“’Price is what you pay. Value is what you get’.” Warren Buffett
The market determines value and its institutional participants have assessed the ASX200 CFOs and those that delivered the best value in the first half of 2022 have been calculated. 115 of Australia’s leading super funds, investment managers and equities analysts scored the stocks they cover on MarketMeter’s investor sentiment platform. The scoring process mirrored their own stock selection and portfolio construction procedures and was undertaken as the economy was emerging from covid isolation but wrestling with continuing supply chain issues, global inflation and the impacts of the Ukraine / Russian war. Online / IT companies have been favoured since covid commenced and were prominent, but other sectors represented were real estate, health care and consumer companies.
ASX 100 – TOP 10 CFOs
|1||REA||REA GROUP LTD|
|4||MQG||MACQUARIE GROUP LIMITED|
|9||ALL||ARISTOCRAT LEISURE LIMITED|
At the smaller end of the ASX 200 finance bosses from Technology, Media and Telecommunications (TMT) companies took out three of the top five rankings, albeit the highest ranking was a consumer staples stock. Another notable sector was materials, with companies involved in the battery supply chain featuring in the league table as sustainable investments continue to be sought.
ASX 101-200 – TOP 10 CFOs
|4||DHG||DOMAIN HOLDINGS AUSTRALIA LIMITED|
|6||FLT||FLIGHT CENTRE TRAVEL GROUP LIMITED|
|7||AVZ||AVZ MINERALS LIMITED|
|8||LTR||LIONTOWN RESOURCES LIMITED|
Now the companies led by these top CFOs don’t necessarily correlate with the companies that delivered the best total shareholder return for the first half of 2022, so just how were these scores and rankings determined? MarketMeter’s interactive market insights platform captures quantitative and qualitative data from domestic and offshore institutional investors via its stock scoring site. Portfolio managers and investment analysts score companies out of 10 across Management, Strategy, Financial, ESG and Shareholder Engagement categories and have the option to provide qualitative feedback to the companies they are rating.
When it comes to scoring a company on the effectiveness of its CFO, investors are asked to consider the credibility, integrity, and ability of the CFO in managing the finances of the company including the performance of the CFO in capital management initiatives.
Approximately 90,000 data points were captured on MarketMeter’s platform in the first half of 2022. The quality and depth of the data pool is underpinned by MarketMeter’s partnerships with Australia’s leading super funds whose investment managers provide stock scores as part of their responsible investment reporting processes. Corporate subscribers also contribute to the data sample with their key shareholders providing performance feedback to board and management teams. For the investors doing the scoring, MarketMeter’s interactive analytics platform is a barometer for relative peer group sentiment – a stock screening tool not available elsewhere.
In addition to being used by Australia’s super fund industry, MarketMeter’s data is used by the Australasian Investor Relations Association (AIRA) to determine its annual Investor Relations Best Practice Awards, as well as by the Australian Shareholders’ Association (ASA) for their annual awards. The league tables for the investor relations industry are published on the AIRA website.
MarketMeter is the interactive market insights platform that measures and benchmarks investor perceptions of Australian and New Zealand listed companies. It is a powerful performance and risk management tool for boards, management and investor relations teams. Corporate subscribers have the power to interrogate this data for meaningful and actionable insights. https://www.marketmeter.com.au/contact-us.html
MarketMeter’s purpose is to provide listed companies with aggregated, anonymised investment market views in order to highlight areas of risk and promote corporate best practice. MarketMeter shares anonymised data with the Australasian Investor Relations Association (AIRA) to determine its annual IR Best Practice Awards, as well as with APRA-regulated super funds for their internal valuation frameworks and The Behavioural Insights Team to explore ESG themes.
Institutional investors and brokers can contribute their stock scores post-reporting season every year: https://stockscores.marketmeter.com.au/signup
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