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ASX Top 200 Stocks Down Under 18 January 2021: Pendal Group, Adbri, Perpetual
Pendal Group: Improved performance, and new products hold solid potential
In today’s edition of ASX Top 200 Stocks Down Under, based in Sydney, Pendal Group is a global fund management firm that was known as BT Investment Management prior to 2018. Its strong line-up of Australia-based funds hold good upside potential as the domestic economy continues to recover amid support from fiscal stimulus and low interest rates. We also like the strength of the company’s international and global funds and see this growth persisting. The group’s recent investment performance has been strong, marked by many outperforming funds that drove improved fund flows in the most recent quarter. Meanwhile, a wave of new product launches tailored to client needs, including new Impact fund offerings, bode well for future growth. The share is trading at 17x earnings and comes with a generous 5.6% dividend yield.
Also in today’s edition, a look at materials supplier Adbri (ASX: ABC) and funds management group Perpetual (ASX: PPT).
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Click here to read the previous edition of ASX Top 200 Stocks Down Under published 11 January 2021