Munro Partners held a live Zoom webinar Q&A with our Chief Investment Officer, Nick Griffin on Wednesday, 1 March 2023 at 12:00pm (AEST).
The Q&A webinar was hosted by GSFM and its Head of Retail Distribution, Stephen Fletcher.
SF (00:00:00): Introduction
SF (00:01:24): Munro have recently bolstered the investment team with 2 new hires, would you like to take the listeners on the call through these exciting additions to the team?
SF (00:03:38): What are your thoughts on the start of 2023?
SF (00:10:56): What will you need to see before you feel like you can get the cash back to work and get your net exposure back in the 90's or 100%?
SF (00:14:42): Capital protection plays an important role within MGGF. Our listeners are always keen to understand how you're protecting the portfolio today... can you talk more about this?SF (00:19:24): AI is a structural theme that you've been talking about for many years - specifically driven by Moore's Law and I'm sure everyone on the call today remembers this from your previous presentations over the years. Then over the summer break we were all introduced to ChatGPT and we're now starting to read about and slowly understand the power of what AI could bring to the world. Can you take us through how you see AI impacting the planet...and as a growth equity investor, how do you believe investors can monetise this structural theme?
SF (00:26:36): Nick let's move onto the other key theme's / AOI's in your portfolio. Which of these are you adding to right now and why do you think they will work over the next few years?SF (00:28:56): What's not on this slide that the team is working on today and what's stopping you from investing today?
SF (00:31:30): Last question we are getting from a lot of clients is 'Do growth stocks still work in a 5% interest rate environment?' or have things changed for the asset class and we are all better off buying bonds?Q&A
SF (00:34:28): Do you see the potential for the market PE multiple to expand even while earnings are being revised lower, meaning share prices hold up okay despite EPS being revised lower?
SF (00:36:12): The Formula One Grand Prix is here in Melbourne in about a months time. You've talked about the stock before, would you look to buy it at some point?SF (00:38:09): What about short opportunities at the moment, can you talk about those?SF (00:40:35): A question on NVIDIA, do you have any comments on the recent earnings result?
SF (00:43:08): Do you want to talk about your view on TESLA right now, and how you're handling that?
SF (00:45:47): Conclusion and takeaways
Disclaimer: The information provided by Munro Partners is general information and is for educational purposes only.The video is not intended to include, or constitute as, financial product advice. The views held by Munro Partners are current at the time of recording and are subject to change. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Market conditions may change which may impact the information contained in this document. All charts and illustrations in this video are for illustrative purposes only. They are not intended to predict or project investment results. This information has been prepared without taking account of the objectives, financial situation or needs of individuals. You should obtain independent advice from a licenced professional adviser before making any investment decision. Information about the Munro funds, including the product disclosure statements (PDS) for the Munro Funds is available at www.munropartners.com.au. Munro Partners is a corporate authorised representative of Munro Asset Management Limited, AFSL 480509. GSFM Responsible Entity Services Limited ABN 48 129 256 104 AFSL 321517 (GSFM Responsible Entity Services) is the responsible entity of the Munro Global Growth Fund ARSN 612 854 547 APIR MUA0002AU (MGGF), and is the issuer of this information.GSFM Responsible Entity Services is the issuer for the Funds, the MGGF PDS dated 30 September 2022, the MCGGF PDS dated 30 September 2022 and the Additional Information to the PDS, and the MCCLF PDS dated 28 October 2021 and the Additional Information to the PDS all of which may be obtained from www.gsfm.com.au, www.munropartners.com.au or by calling 1300 133 451. You should consider the PDS and Additional Information to the PDS in its entirety before making a decision to acquire or continue to hold an interest in the Funds. GSFM Responsible Entity Services has produced a Target Market Determination (TMD) in relation to the Funds. This document, presentation and video was issued on 1 March 2023.
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