Thesis TrackerAfter two failed takeover processes, a Takeovers Panel ruling and a boardroom overhaul, fund managers argue the lender's value has been trapped by governance rather than performance, and that asset sales could release it.
Paradice Investment Management initiated a position in Telstra Group (ASX:TLS) recently, and the holding contributed to performance as the market rewarded the telecommunications company's defensive, dependable earnings. Paradice believes Telstra is executing well and is equipped with a solid balance sheet. The addition sits within a meaningful overweight in Communication Services, which Paradice says reflects opportunities in stocks oversold on AI-related concerns.
Investors Mutual Limited reduced its weighting in Telstra and now rates it a hold. The manager held a large position for many years on the view that mobile margins were unsustainably low, but believes that thesis has played out as Optus has returned to profitability and is approaching its cost of capital. IML expects that once profitability recovers, competitors eventually compete it away. The manager also agrees that while Starlink satellites cannot fully replace mobile networks, they reduce the value consumers place on Telstra's network advantage.
General information only. Thesis Tracker is a database of what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
12,245 comments from 167 managers on 777 companies, snapshot 30 Oct 2026.
After two failed takeover processes, a Takeovers Panel ruling and a boardroom overhaul, fund managers argue the lender's value has been trapped by governance rather than performance, and that asset sales could release it.
Paradice Investment Management initiated a position in Telstra Group (ASX:TLS) recently, and the holding contributed to performance as the market rewarded the telecommunications company's defensive, dependable earnings. Paradice believes Telstra is executing well and is equipped with a solid balance sheet. The addition sits within a meaningful overweight in Communication Services, which Paradice says reflects opportunities in stocks oversold on AI-related concerns.
Investors Mutual Limited reduced its weighting in Telstra and now rates it a hold. The manager held a large position for many years on the view that mobile margins were unsustainably low, but believes that thesis has played out as Optus has returned to profitability and is approaching its cost of capital. IML expects that once profitability recovers, competitors eventually compete it away. The manager also agrees that while Starlink satellites cannot fully replace mobile networks, they reduce the value consumers place on Telstra's network advantage.
General information only. Thesis Tracker is a database of what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
12,245 comments from 167 managers on 777 companies, snapshot 30 Oct 2026.
