Welcome to Magellan Minutes, a new investment insights initiative in which senior members of our investment team dissect the markets and take a deeper look into the sectors and stocks in our global portfolios, particularly during covid-19. This series is designed to provide you with concise, relevant and digestible talking points on global markets, each in around 10 minutes.
Arvid Streimann, CFA
Head of Macro
(Updated June 2020) In this episode of 'Magellan Minutes' we discuss Magellan’s current economic outlook, and look at how the economy has changed shape as a result of covid-19. We drill down on different regions and discuss a range of different scenarios. Finally, we reflect on the relationship between higher PEs and a protracted interest rate environment and discuss whether this thematic should hold true in a post-covid world.
Quick Service Restaurants
Rosie Malcolm, CFA
Head of Franchises
In this episode of 'Magellan Minutes' we look at the effects of covid-19 on the Quick Service Restaurant industry including companies in our portfolios Starbucks, McDonalds and YUM! Brands. We look at how these companies are surviving as well as opportunities and challenges they face as we move into the new post-covid world.
In this episode of 'Magellan Minutes' we discuss two of the biggest enterprise software companies in the world, Microsoft and SAP, and how they have fared during the covid-19 pandemic. We look at how spending on IT has been affected and share our views on the strength of these companies.
Vihari Ross, Head of Research
In this episode of ‘Magellan Minutes' we take a look at two luxury companies, LVMH and Estée Lauder, and discuss the outlook for these businesses and whether the China growth story still exists.
Internet and e-Commerce
Ryan Joyce, CFA
Co-Head of Technology, Communications and Media
In this episode of 'Magellan Minutes' we discuss our exposure to the internet and e-commerce platforms through Alphabet, Facebook, Alibaba and Tencent. We take a look at how these businesses have performed of late, their current risks and opportunities and how they are placed for the post-covid world.
Dom Giuliano, Deputy CIO and Portfolio Manager
In this episode of 'Magellan Minutes' we discuss our exposure to the payment networks, MasterCard and Visa. We take a look at what changes are happening with consumer behaviour that directly affects the bottom line for these companies and discuss our long-term outlook.
Head of Financials
In this episode of 'Magellan Minutes' we discuss why we have reduced our exposure to the banks last year to virtually zero and take a look at the banking sector, explaining why it has been hit so hard with the pandemic and what this means going forward.
Head of Healthcare
In this episode of 'Magellan Minutes' we discuss how defensive the healthcare sector has proven to be during the pandemic. We review Magellan’s two key healthcare holdings: HCA and Novartis. Finally we look at valuation as well as risks and opportunities around these stocks.