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.
Airlie Funds Management increased its rating on BlueScope Steel to a Buy, pointing to a roughly 10% dividend yield and the potential for a 15% total return over eighteen months. The manager believes the company's non-US operations are under-earning even as its North American business over-earns, a view supported by a strong balance sheet and capable management, while a prior takeover approach pitched above the current share price is seen as limiting further downside.
Investors Mutual Limited reduced their position in BlueScope Steel Ltd during the September 2026 quarter as the steelmaker's share price appreciated. The manager notes that it used daily market fluctuations to write additional option premium over its BlueScope Steel holding, generating incremental income. The decision to trim reflects the manager's disciplined approach of taking profits on holdings that have risen in value, while continuing to use options strategies around the remaining position.
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.
Airlie Funds Management increased its rating on BlueScope Steel to a Buy, pointing to a roughly 10% dividend yield and the potential for a 15% total return over eighteen months. The manager believes the company's non-US operations are under-earning even as its North American business over-earns, a view supported by a strong balance sheet and capable management, while a prior takeover approach pitched above the current share price is seen as limiting further downside.
Investors Mutual Limited reduced their position in BlueScope Steel Ltd during the September 2026 quarter as the steelmaker's share price appreciated. The manager notes that it used daily market fluctuations to write additional option premium over its BlueScope Steel holding, generating incremental income. The decision to trim reflects the manager's disciplined approach of taking profits on holdings that have risen in value, while continuing to use options strategies around the remaining position.
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.
