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11 July 2026
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In this interview, Matthew Haupt from Wilson Asset Management discusses his outlook for the ASX, sectors such as REITs that he likes, and his firm's launch of a new income-oriented listed investment company.
Many property trust results are better than expected, with the A-REIT sector on a dividend yield of 4.8%. But there's a wide variation by sector and the ability of tenants to pay the rent.
Many investors are tempted by high yields on shares, but when they are not sustainable, and in weak businesses, the outcome is disappointing compared with better quality and lower yields.
SMSFs are continuing to use the ASX20 as a bargain buy, but are also diversifying into mid caps and international shares via direct investments, ETFs and LICs.
As interest rates remain low and foreign buyers come looking for assets, listed property has performed well, but asset allocators can move in and out of the sector based on other factors.
The property market is far from homogeneous, and investors should consider different impacts on residential, office and retail sectors. Is Myer a bellwether for retail changes?
Institutional investors have little interest in investing in residential property due to the low yields and favourable taxation concessions offered to owner occupiers and retail investors.
There is more to listed property than the top eight in the A-REIT Index with many strong performing smaller trusts outside the top 80% of the index, and other A-REITs not even included in the index.
Proposed Budget changes to taxation are casting new uncertainty over testamentary trusts, prompting closer scrutiny of estate planning structures and the real implications of reforms still taking shape.
Inheritance tax implications in Australia may surprise some, as poor estate planning without proper wills or trusts can lead to costly tax bills and delays for beneficiaries.
New CGT rules could tip the scales in the super vs non-super debate. For those facing the Division 296 tax, the case for withdrawing has gotten more complex. A "comparison rate" tool may help assess decisions.
Beneath the dominance of the ASX's largest stocks, much of the market has been left behind. High-quality companies are now trading at levels rarely seen, offering opportunities for investors willing to look deeper.
The 30% minimum tax on capital gains sits at the heart of the budget's proposed reforms. Yet the mechanics reveal anomalies that introduce unexpected distortions that raise questions about its design.
The downfall of the giant and three lessons for investors.