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Equities

Proprietary investment research drives our stock selection

Overview

We focus on fundamental, bottom up stock selection and a belief that earnings drive share prices. We seek to uncover insights into earnings that market consensus has not factored into prices to help us assess a stock’s value.

Our investment process places an emphasis on face-to-face contact with companies, which includes one-on-one meetings, site inspections and operational visits. The team averages in excess of 600 one-on-one company meetings each year.

There is a clear linkage between research and portfolio construction as we seek to identify and hold positions in companies:

  • which are undervalued relative to the market
  • provide adequate diversification of risk
  • where we have a proprietary research view that is differentiated from the market
  • where earnings are likely to surprise on the upside

 

Why consider AMP Capital for equities?

Consistent process

Our investment process is underpinned by proprietary research and analysis, combining both macroeconomic and company specific research insights.

ESG leader

We are recognised as an industry leader in environmental, social and governance (ESG) research. The views of our in-house ESG research team are an important input into our overall assessment of a company and the industry in which it operates. AMP Capital’s credentials in this area are widely recognised and represent a source of differentiation for our fundamental equities process.

Collaboration

Our clients benefit from expertise and collaboration across AMP Capital’s investment teams in infrastructure, real estate, fixed income, equities, multi-asset investing and economics and investment strategy.

Philosophy and process

We believe equity markets are, by nature, inefficient. The combination of future uncertainty and the multitude of influences on capital markets often result in stocks frequently diverging from their fundamental value. This is where true opportunities can be found.

Earnings drive share prices

It is our belief that earnings drive share prices. Proprietary research and analysis of a company’s future earnings potential is critical, as this can often be different to the market.

Bottom up stock selection

We employ a high-conviction, research-based approach to stock selection. This is supported by a range of macroeconomic, quantitative and company-specific analyses to uncover future earnings potential that is not reflected in the share price.

Portfolio construction and risk management

Our clients benefit through investing in portfolios that are managed by highly experienced investment professionals with several years’ experience in investing through different market environments. Portfolios are constructed to reflect the combined insights from the broader team, with a specific focus on managing risks. Our rigorous risk management processes are designed to ensure risks at multiple levels are understood and managed accordingly.

Meet the manager

Our people and experience set us apart. We combine our in-depth investment expertise, specialist capabilities and extensive global network to deliver outstanding investment outcome for our clients.

Michael is Head of Fundamental Australian Equities and is responsible for the management of sustainable share and income-focused strategies.

 

Michael Price
AMP Capital

Important note: The information contained in this document has been prepared by AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) (AMP Capital) for providing general information only. It is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest in any particular investment fund or investment capability. Readers should not treat the Information as advice on legal, tax or investment matters and should make their own inquiries and consult professional advisers as to applicable laws, regulations and requirements in any particular jurisdiction (including, where the Information is received) and the consequences arising from any failure to comply. While every care has been taken in the preparation of this document, neither AMP Capital, nor any member of the AMP Limited Group makes any representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Certain information in this document identified by footnotes has been obtained from sources that we consider to be reliable and is based on present circumstances, market conditions and beliefs. Other than information sourced from AMP Capital, we have not independently verified this information and cannot assure you that it is accurate or complete. Past performance is not a reliable indicator of future performance. This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investments decisions, consider the appropriateness of the information in this document, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. The Information may not be reproduced or redistributed (in whole or in part) or otherwise made available to any other person in any format without the express written consent of AMP Capital.