31 Oct 2025Sterling Managed InvestmentsCSLHeldThe fund manager continues to hold CSL, which fell 10% in October after an AGM trading update lowered FY26 revenue and profit growth expectations. Cutting FY26 guidance only two months after the August result has shaken market confidence, including their own. They reduced their CSL holding in July to fund another healthcare purchase, though in hindsight not enough. With the share price now ~40% below 12 months ago despite broadly unchanged earnings, the market appears to be pricing current earnings as unsustainable. They disagree with this view and therefore retain their position.
31 Oct 2025Sterling Managed InvestmentsBRGInitiatedThe fund manager initiated a position in Breville because they are attracted to its capital-light business model, dominant position in premium coffee appliances and consistent track record of double-digit revenue growth. While FY26 will be a transition year due to US tariffs and manufacturing changes, they believe these pressures are temporary. The long-term outlook remains strong, supported by a structural growth market of rising global demand for at-home specialty coffee, continued product innovation and international expansion. BRG's strong balance sheet reinforces confidence in its ability to manage near-term pressures and sustain long-term growth.
Sterling Managed Investments is a boutique Australian investment and portfolio management business offering managed investment services, likely spanning equities, fixed income or multi-asset strategies for private and wholesale clients. Firms of this type typically provide tailored portfolio construction and ongoing management based on individual client objectives and risk tolerance, rather than running a single widely distributed retail fund. As a smaller, specialist manager, Sterling Managed Investments maintains a lower public profile, with detailed, independently verifiable information on its specific investment approach and track record limited in public sources.
General information only. Thesis Tracker reports 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.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.
31 Oct 2025Sterling Managed InvestmentsCSLHeldThe fund manager continues to hold CSL, which fell 10% in October after an AGM trading update lowered FY26 revenue and profit growth expectations. Cutting FY26 guidance only two months after the August result has shaken market confidence, including their own. They reduced their CSL holding in July to fund another healthcare purchase, though in hindsight not enough. With the share price now ~40% below 12 months ago despite broadly unchanged earnings, the market appears to be pricing current earnings as unsustainable. They disagree with this view and therefore retain their position.
31 Oct 2025Sterling Managed InvestmentsBRGInitiatedThe fund manager initiated a position in Breville because they are attracted to its capital-light business model, dominant position in premium coffee appliances and consistent track record of double-digit revenue growth. While FY26 will be a transition year due to US tariffs and manufacturing changes, they believe these pressures are temporary. The long-term outlook remains strong, supported by a structural growth market of rising global demand for at-home specialty coffee, continued product innovation and international expansion. BRG's strong balance sheet reinforces confidence in its ability to manage near-term pressures and sustain long-term growth.
Thesis Tracker