PM Capital Podcast - John Whelan - Siemens

Co-Portfolio Manager - Equities, John Whelan and Business Development Manager John Palmer discuss a key portfolio holding in our latest podcast.

In this episode, we discuss Siemens, a global conglomerate. We first initiated a position in 2019 and had the opportunity to increase our position during the pandemic in 2020. Some of questions discussed include:

  • Siemens can be thought of as four main business units, what are these and what benefits does each business unit provide?
  • Seeing as Siemens is considered a world class business, where was the opportunity for PM Capital to buy, and increase, its position?
  • Do you believe that Siemens will spin out any of the four business units in order to simplify?
  • Are there other opportunities currently presenting themselves in this sector?

This insight is issued by PM Capital Limited (ABN 69 083 644 731 AFSL No. 230222) as the responsible entity for the PM Capital Global Companies Fund (ARSN 092 434 618), the ‘Fund’.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 Fund's 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.