ASX:MAQ
Macquarie Technology Group Ltd
Investment Summary
The fund managers believe that Macquarie Technology Group Ltd has significant upside potential following a recent equity raise that facilitated a 12.9% increase in performance. In their opinion, this equity raise will reduce the company's cost of capital over time, which is critical for data centre operators. Furthermore, they highlight that Macquarie's ownership of its land and buildings positions it well to capitalize on future investment opportunities, particularly in its data centre business. The managers express confidence in the medium-term growth profile, driven by megatrends such as digitalization and AI, which they believe will continue to fuel demand.
Commentary From The Managers
Milford Asset Management
30 June 2024
$91.29
- Performance led by Macquarie Technology (+12.9%) following equity raise.
- Equity raise reduces Macquarie’s cost of capital over time.
- Benefits typical for data centre operators owning land and buildings.
- No shortage of investment opportunities in data centre business to support growth.
- Megatrends like digitisation and AI bolster medium-term growth profile.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.