Major bank reporting season gets underway this week. We see FY21 results as being more about stock-specific issues rather than being driven by macro factors that have dominated recent results. We unpack the four key themes of reporting season.

The gaming industry, which has traditionally delivered GDP-like growth rates across many decades, is now facing a period of digitisation and profound structural change. We unpack the drivers behind the reorganisation of a number of global companies and identify where we believe opportunities are currently mispriced.

Investors in recent weeks have become more circumspect of just how meaningful reopening could be, with a number of reopening beneficiaries underperforming the market. We believe investors should not lose faith in the reopening, highlighting several reopening opportunities across the S&P/ASX 300 – a shopping list for investors looking for exposure to the reopening theme.

The final quarter of 2021 is likely to be dominated by several competing cross-currents that have the potential to reshape the investment outlook. We preview four themes likely to dominate 4Q21 and the impact of each on members of the Wilsons Australian Equity Focus List.

There is no doubting the importance of the global energy transition as the world moves toward its net zero 2050 target. However, recent events in respect of both renewable and legacy energy supply disruptions across the globe have driven sharp rises in oil, gas and coal prices. Here we explore the impact of the energy sustainability pivot on the Australian energy sector.

The recent global macro concerns centered around China property developers have coincided with a seasonally weak period for equity markets. This creates an opportunity to add a high growth exposure to the Focus List. In response, we are adding further structural growth exposure to Wilsons Australian Equity Focus List with the addition of SEEK (SEK) following the removal of Sydney Airports (SYD). 

Healthcare A-REITs have two powerful themes behind them. Firstly, the mega trend of growing healthcare expenditure, which is expected to grow at close to double GDP into the foreseeable future. Secondly, the institutional ownership of healthcare property remains low in Australia by global standards. With healthcare exposed A-REITs largely undiscovered in Australia, we share our view on the compelling growth story within A-REITs and why we have HealthCo Healthcare and Wellness REIT (HCW) to the Wilsons Australian Equity Focus List.

As Australia continues to edge closer to vaccination targets of +70% and +80% the prospect of a sharp rebound in activity levels for many service-oriented businesses improves. With the reopening theme likely to dominate into the end of 2021, we have increased the exposure within the Wilsons Australian Equity Focus List to the domestic reopening theme.