Investor reactions and the quality in global equity
In this episode, Mansoor Narker, Senior Investment Analyst, is joined by Andrew Headley, Portfolio Manager of the Nedgroup Investments Global Equity Fund, to unpack what markets have dubbed the “Saaspocalypse.” As investor enthusiasm around artificial intelligence has intensified, many software and data businesses have been sold off indiscriminately. But is all software equally vulnerable to disruption? Andrew explains why a long-term, real-return lens still matters, what investors mean when they talk about “systems of record”, and why deeply embedded software businesses with high switching costs and governance requirements may be more resilient than headlines suggest. The conversation also explores a recent portfolio decision to sell Alphabet, and how the team is thinking about software exposure more broadly. Tune in to this discussion on quality, valuation discipline and why nuance matters in a market dominated by a single AI narrative.
| 11 min listen
