The Active Investor w/SGH

In this episode of The Active Investor with SGH, Steve Hiscock and Rob Hogg break down October’s market moves — from the U.S. government shutdown and Fed rate cuts to gold’s volatility and Australia’s inflation surprise. They discuss whether the recent surge in U.S. tech signals a bubble, why they don’t think we’re there yet, and where investors can still find opportunities amid high valuations.

Recorded on 05 November 2025.

https://sghiscock.com.au/

Follow us on LinkedIn: https://www.linkedin.com/company/sg-hiscock-company/⁠

The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here: https://sghiscock.com.au/podcast-disclosures-and-disclaimers/

Episode #16 | September 2025: Sticky inflation - tricky situation!

In this episode of The Active Investor, SG Hiscock & Company’s Executive Chair Steve Hiscock and CIO Rob Hogg unpack:

🔹 Small caps revived - relative valuation gap vs large caps began to narrow

🔹Gold on a tear - how this is boosting resources-linked small caps.

🔹Rates & inflation - despite markets still pricing multiple cuts sticky inflation remains a key risk to that path.

🔹Housing & jobs (AU)

🔹AI theme - questions remain about capex scale and ROI (echoes of dot-com timing vs ultimate transformation).

💡 Timely insights from active managers navigating shifting markets.

✅ Subscribe to The Active Investor with SGH: stay informed, stay active.

Recorded on 01 October 2025.

https://sghiscock.com.au/

Follow us on LinkedIn: https://www.linkedin.com/company/sg-hiscock-company/⁠

The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here: https://sghiscock.com.au/podcast-disclosures-and-disclaimers/

Record volatility. Small caps soar. Gold shines.

But the standout story? A once-in-a-generation reporting season.

In this episode of The Active Investor, SG Hiscock & Company’s Executive Chair Steve Hiscock and Head of Australian Equities Hamish Tadgell unpack:

🔹 Why the September 2025 reporting season saw record stock price moves

🔹 The outperformance of small caps led by resources, consumer discretionary and REITs

🔹 How domestic “safe haven” franchises diverged from global cyclicals

🔹 CSL’s shock result and what it signals for large-cap healthcare

🔹 NEXTDC, Chorus and other standout stock stories

🔹 Banks as perceived safe havens, energy transition optimism, and the gold rally

🔹 What muted earnings growth and elevated valuations mean for investors

💡 Timely insights from active managers navigating a volatile market.

✅ Subscribe to The Active Investor with SGH: stay informed, stay active.

Recorded on 04 September 2025.

https://sghiscock.com.au/

Follow us on LinkedIn: ⁠https://www.linkedin.com/company/sg-hiscock-company/⁠

*The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here: https://sghiscock.com.au/podcast-disclosures-and-disclaimers/.

Powell surprised. Bonds steepened. Small caps surged.But the headline act? US housing feeling the strain.In this episode of The Active Investor, SG Hiscock & Company's Executive Chair Steve Hiscock and CIO Rob Hogg unpack:🔹 Powell's dovish turn at Jackson Hole and its impact on rate expectations🔹 Why US housing is under renewed pressure as 30-year yields rise🔹 The global bond market steepening and what it signals for investors🔹 Key takeaways from Australia's reporting season – volatility at the top end🔹 The AI hype cycle and whether returns are living up to the narrative🔹 Valuations at the high end and the case for investor caution💡 Timely insights from active managers navigating shifting markets.✅ Subscribe to The Active Investor with SGH: stay informed, stay active.Recorded on 01 September 2025.https://sghiscock.com.au/Follow us on LinkedIn: https://www.linkedin.com/company/sg-hiscock-company/⁠The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here: https://sghiscock.com.au/podcast-disclosures-and-disclaimers/

Episode #13 | July 2025: No panic, no cuts – just GENIUS

Equities stayed strong. Central banks held steady. Inflation remained contained.

But the headline act? The GENIUS Act.

In this episode of The Active Investor, SG Hiscock & Company's Executive Chair Steve Hiscock and CIO Rob Hogg unpack:

🔹 What the passing of the GENIUS Act means for stablecoins and digital finance

🔹 Why markets remained calm despite trimmed rate cut expectations

🔹 Resilience in economic data and what it signals for the outlook

🔹 Investor positioning in an environment of rising valuations

🔹 Whether complacency is setting in as risks get repriced

🔹 Global central bank dynamics and the steady hand approach

💡 Timely insights from active managers navigating a resilient yet cautious market.

✅ Subscribe to The Active Investor with SGH: stay informed, stay active.

Recorded on 06 August 2025.

https://sghiscock.com.au/

Follow us on LinkedIn: https://www.linkedin.com/company/sg-hiscock-company/

*The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here: https://sghiscock.com.au/podcast-disclosures-and-disclaimers/.

Equities held firm. Volatility stayed low. Risks? Quietly re-priced.

But the biggest talking point? The Big Beautiful Bill.

In this episode of The Active Investor, SG Hiscock & Company's Executive Chair Steve Hiscock and CIO Rob Hogg explore:

🔹 The implications of the Big Beautiful Bill on earnings and sentiment

🔹 Why markets shrugged off rising geopolitical tension

🔹 Shifting global flows and the evolving safe-haven role of the US dollar

🔹 Strong economic data and the market's growing optimism

🔹 Whether investor complacency is starting to creep in

🔹 The Reserve Bank of Australia's June pivot and its ripple effects

💡 Timely insights from active managers navigating a complex, resilient market.

✅ Subscribe to The Active Investor: stay informed, stay active.

Recorded on 02 July 2025.

Website: ⁠https://sghiscock.com.au/⁠

LinkedIn: ⁠https://www.linkedin.com/company/sg-hiscock-company/⁠

*The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here: https://sghiscock.com.au/podcast-disclosures-and-disclaimers/.

Markets rallied in May, but uncertainty still looms.

In this month's update, SGH Executive Chair Steve Hiscock is joined by Chief Investment Officer Rob Hogg to unpack the equity market surge, surprising economic resilience, and the emergence of "TACO" – Trump Always Chickens Out.

They cover:

• Why global equities jumped despite lingering risks

• The significance of tariff rollbacks and Trump's negotiation tactics

• Japan's bond market moves and what it signals

• Australia's rate cut path and softer economic data

• What TACO means for volatility and investor sentiment

✅ Subscribe to The Active Investor: stay informed, stay active.

Recorded on 4 June 2025.

Website: ⁠https://sghiscock.com.au/⁠

LinkedIn: ⁠https://www.linkedin.com/company/sg-hiscock-company/⁠

*The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here:

https://sghiscock.com.au/podcast-disclosures-and-disclaimers/.

Markets were rattled in April, and uncertainty remains high.

In this month's update, SGH Executive Chair Steve Hiscock is joined by Chief Investment Officer Rob Hogg to unpack the sharp market swings sparked by Trump's tariff announcements, bond market stress, and shifting investor sentiment.

They cover:

• What triggered the bond market's dramatic mid-month spike

• The role of foreign investors and policy uncertainty

• Why the US dollar is losing some of its shine

• Australia's standout performance - and what's driving it

• What to watch for in the global economy and markets

✅ Subscribe to The Active Investor: stay informed, stay active.

Recorded on 6 May 2025.

Website: ⁠https://sghiscock.com.au/⁠

LinkedIn: ⁠https://www.linkedin.com/company/sg-hiscock-company/⁠

*The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here: https://sghiscock.com.au/podcast-disclosures-and-disclaimers/

Markets are in turmoil, and investors are looking for clarity.

In this mid-month update, SGH Executive Chair Steve Hiscock is joined by Chief Investment Officer Rob Hogg to unpack the sharp shift in sentiment, extreme bond market volatility, and what Trump's tariff backflip means for inflation, equities, and Australia.

They cover:

• Plunging consumer and corporate sentiment

• The bond market's warning shot to policymakers

• Global reweighting away from the US

• Why Australia may be in better shape than most

• What to watch in the weeks ahead

✅ Subscribe to The Active Investor: stay informed, stay active.

Recorded on 15 April 2025.

Website: ⁠https://sghiscock.com.au/⁠

LinkedIn: ⁠https://www.linkedin.com/company/sg-hiscock-company/⁠

*The podcast does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives, financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Neither SGH nor any of its related parties provide any warranty of accuracy. Returns are not guaranteed. More information available here: https://sghiscock.com.au/podcast-disclosures-and-disclaimers/.

Is your portfolio built to adapt?

In this episode of The Active Investor w/SGH, host Alastair McKibbin is joined by Travis Prentice, CIO of IMC and portfolio manager for the IMC Global Small Companies Fund, for a deep dive into one of the most underutilised but compelling forces in investing: momentum.

From its academic origins to real-world execution, Travis unpacks how momentum — described by Fama and French as the "premier market anomaly" — can be harnessed through IMC's systematic Informed Momentum process. You'll hear how combining price signals with business fundamentals provides a powerful lens to identify companies that not only perform well but are also likely to continue doing so, even as market regimes shift.

The discussion also explores how momentum complements other factors, such as value and quality, and why it behaves differently during various phases of the cycle.

A standout segment is the case for global small caps as the ideal playground for this strategy. With thousands of under-researched companies and frequent leadership changes across sectors and regions, the asset class provides fertile ground for momentum to thrive. It's one of the few areas where active management has a genuine edge, particularly for investors seeking differentiated returns beyond benchmark-heavy portfolios.

🎧 Whether you're reassessing your asset allocation or exploring new ways to build resilience into your strategy — this episode offers fresh insights backed by decades of research and practice.

Recorded: 20 March 2025

Host: Alastair McKibbin, SGH Head of Research &Consultant Relations

Guest: Travis Prentice, IMC CIO and portfolio manager for the IMC Global Small Companies Fund

Learn more:

Website: ⁠https://sghiscock.com.au/⁠

LinkedIn: ⁠https://www.linkedin.com/company/sg-hiscock-company/

🔗 Disclaimer: This podcast is produced by SG Hiscock and Company. It does not constitute financial advice and assumes a certain level of knowledge. It is general information only and does not take into account the investment objectives. Financial situation or needs of any person and should not be considered a recommendation. The views in this podcast are those of the contributors at the time of recording. Returns are not guaranteed.

Equity Trustees is the responsible entity for the fund mentioned in the podcast. Neither SGH, Equity Trustees nor any of its related parties provide any warranty of accuracy. You should obtain a copy of the Product Disclosure Statement before making a decision about whether to invest in this product.

Please refer to the podcast description for full disclosures- https://sghiscock.com.au/podcast-disclosures-and-disclaimers/.