Fund managers including Cooper Investors, Oracle Advisory Group, Equity Trustees Asset Management, Maple-Brown Abbott, Pendal Group, Yarra Capital Management, Clime Investment Management, Alliance Bernstein, SG Hiscock & Company, Wilson Asset Management, Flagship Investments, Blackwattle Investment Partners, Milford Asset Management, Ten Cap, Infinity Asset Management, Tyndall Asset Management, Seneca Financial Solutions, Hyperion Asset Management, Elston Asset Management, ECP Asset Management, Airlie Funds Management, Selector Funds Management, Sage Capital, Prime Value Asset Management, Perpetual Asset Management, Sterling Managed Investments, Atlas Funds Management, Perennial Partners, ELM Responsible Investments, Platypus Asset Management, Pengana Capital Group, ClearBridge Investments, Investors Mutual Limited, Allan Gray, Ausbil Investment Management, Greencape Capital, Ellerston Capital, Antares Capital, Katana Asset Management, Paradice Investment Management, Quest Asset Partners, Alvia Asset Partners, PM Capital, Cadence Capital, Collins St Asset Management, Endeavor Asset Management, Vertium Asset Management, First Samuel, WaveStone Capital, Solaris Investment Management, Merlon Capital Partners, Centennial Asset Management, Ralton Asset Management, Alphinity Investment Management and Auscap Asset Management have invested in CSL Ltd (ASX:CSL).

WaveStone Capital highlights cost reduction and better commercial decision-making under new management, high single-digit EPS growth and scope for further re-rating from around 19 times earnings. Maple-Brown Abbott noted CSL bottomed near $90, about 10 times forward earnings and far below its historical peak multiple, while ClearBridge and Merlon argue low expectations created a favourable setup for upside surprises.

Fund managers' commentary suggests the recovery has been driven largely by results beating a very low bar rather than a dramatic change in the business, according to ClearBridge and Merlon. After a rapid re-rating, the share price now depends on new management delivering sustained earnings growth and cost savings.

CSL Ltd. is a global biopharmaceutical company headquartered in Melbourne, Australia, founded in 1961. The firm develops, manufactures, and distributes biopharmaceutical products across three primary business segments: CSL Behring, focusing on plasma-derived therapies, gene therapies, and recombinants; CSL Seqirus, specializing in influenza vaccines and government pandemic services; and CSL Vifor, targeting therapeutic areas including iron deficiency and nephrology. CSL operates as a key player in the healthcare sector, integrating research and development with global commercial distribution to deliver specialized medical treatments.