21/01/2026 09:41

Portfolio Amendments – Active Income Portfolio

We are reducing equity exposure in the Income Portfolio

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28/08/2025 18:06

Smartgroup (SIQ) $8.08

SIQ +0.5%: A decent 1H25 result with their earnings number showing they are on track to meet full-year estimates, though the revenue line was a bit soft – all things considered a good outcome given the shares were down ~7% in early trade; the rebound showing a strong appetite for quality income stocks in this market.

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21/05/2025 09:46

Active Income Portfolio – Amendment

We are buying back into Smart Group (SIQ) following a pullback in the share price over the past week. We see good risk/reward here, with lower interest rates and continuing EV adoption driving volumes.

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07/05/2025 09:21

SmartGroup Corp (SIQ) $8.14

We sold out of the salary packaging and novated leasing company ahead of their FY24 results released in February, due to concerns about the prospect of sluggish new vehicle sales (our rationale here).

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26/02/2025 17:52

Smart Group (SIQ) $8.45

SIQ +7.37%: A very good result from SIQ with revenue and earnings ahead of expectations and an ordinary dividend mildly above forecast, plus a special dividend that was expected.

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19/02/2025 10:02

Active Income Portfolio – Amendment

We are cutting a position in the Income Portfolio this morning.

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12/02/2025 09:26

SmartGroup Corp Ltd (SIQ) $7.77

It’s been a disappointing year for car leasing and salary packaging operative Smart Group (SIQ), with shares down 17% over the past 12-months in a rising market. Dividends have helped, with the stock paying out 49.5c fully franked including a special dividend in March. 

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28/08/2024 09:30

Smart Group (SIQ) $7.55

1H24 results today for the salary packaging and novated leasing company, and there was clearly some concern in the market yesterday with a big drop in the shares following weaker results from two competitors, McMillan Shakespeare (MMS) and SG Fleet (SGF). This morning, SIQ’s 1H result was solid, and inline with expectations, and while no specific guidance was provided for the FY, yesterdays sell-off looks a big overreaction.

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05/06/2024 09:22

Smart Group (SIQ) $7.98

We bought salary packaging and novated leasing business Smart Group (SIQ) only a month ago, and straight off the bat, we’re down 10% - not a great outcome to date. We had been patient with this purchase, buying in post an ~18% pullback in the share price, but it has subsequently fallen more. This prompts the logical question: should we hold, fold, or even add?

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08/05/2024 16:47

Smartgroup Corp (SIQ) $8.74

SIQ -2.89%; Held their AGM today and provided a trading update that read well, however, the 1Q run rate implies they’re tracking 1-2% below consensus. It was pleasing to see demand for novated leasing remaining strong even with January included (typically slow) they were +7% for the quarter and more like 10% on the latter part.

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