Changing interest rate tides threaten growth stocks

The June 2022 Quarterly Report and video update below provides the latest information on the performance of PM Capital's portfolios, investment activity and market outlook.

In this video Paul Moore, Chief Investment Officer and Portfolio Manager, discusses:

  • The inflection of interest rates and inflation and the narrative surrounding this
  • The de-rating of valuation multiples and the opportunities this can present
  • PM Capital’s continued and unchanged focus on a long term framework

“…our investment process at PM Capital is focused on what we believe to be genuine long term valuation anomalies. Buy bottom quartile valuation and sell top quartile valuation. It is the same philosophy and process that we have followed for 20+ years.”


June 2022 Quarterly Report


This Insight is issued by PM Capital Limited ABN 69 083 644 731 AFSL 230222 as responsible entity for the PM Capital Global Companies Fund (ARSN 092 434 618) and the PM Capital Australian Companies Fund (ARSN 092 434 467), the "Funds". It contains summary information only to provide an insight into how we make our investment decisions. This information does not constitute advice or a recommendation, and is subject to change without notice. It does not take into account the objectives, financial situation or needs of any investor which should be considered before investing. Investors should consider the Target Market Determinations and the current Product Disclosure Statement (which are available from us), and obtain their own financial advice, prior to making an investment. The PDS explains how the Funds' Net Asset Value are calculated. Past performance is not a reliable guide to future performance and the capital and income of any investment may go down as well as up.