(Bloomberg) — An investment manager, a Chinese online music entertainment platform and a business travel company were among fund managers’ top stock recommendations at the annual Sohn Australia conference in Adelaide on Friday.
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IFM Investors fund manager Rikki Bannan touted Corporate Travel Management Ltd., Ellerston Capital Ltd.’s Chris Kourtis named fund manager Perpetual Ltd. and JO Hambro Capital Management Ltd.’s Samir Mehta chose Tencent Music Entertainment Group.
Investors have eight minutes to pitch their top ideas to the audience gathered in the South Australian capital. Previous speakers include Ray Dalio, Cathie Wood and Bill Ackman.
Here’s what people are tipping at Sohn Australia:
IFM Investors, Bannan
Corporate Travel’s shares jumped as much as 4.6% in Sydney after IFM Investors’ Bannan named the company as her favored stock pick.
The firm “has in the last 18 months missed expectations on three occasions, shaking the market’s confidence in its outlook,” although the travel services market has stabilized, she said, according to the Australian Financial Review.
Bannan recommended Australian biotech firm Telix Pharmaceuticals Ltd. at the 2023 event. Its shares have more than doubled this year.
JO Hambro Capital Management, Mehta
JO Hambro’s Mehta pitched Tencent Music on its buybacks and earnings growth. Its US-listed stock is up 20% year-to-date.
“Generating cash and buying back stock is not something that you associate with Chinese companies, but there’s been a big change in attitude in many of them,” he said, the AFR reported. China’s music streaming market has huge potential, Mehta added.
Scalar Gauge, Gautam
Scalar Gauge portfolio manager and founder Sumit Gautam touted US-listed accounting software firm BlackLine Inc., as he’s upbeat on the company’s growth outlook as a market leader in the space. BlackLine shares are down 3% this year.
Ellerston Capital, Kourtis
Ellerston Capital’s Chris Kourtis picked Australian fund manager Perpetual, saying it holds the largest position in his portfolio. Kourtis cited new management, a cheap valuation and KKR & Co.’s plan to buy the company’s wealth management and corporate trust units as reasons for his bullishness on the stock. The shares gained as much as 3.7% in Sydney trading.
