It’s a brave call given the recent market sell-off, but the ASX’s ‘milestone’ moment represents a structural change.
If you step back from the Australian sharemarket’s daily/weekly/monthly ups and downs, the ASX has changed before investors’ eyes.
There’s a lot more growth, a lot more offshore exposure and a lot of up-and-comers still sometimes thought of as small caps but which are meaningful contributors to the ASX.
Whether you agree with their valuations or not, the likes of Pro Medicus, WiseTech, REA, CAR Group, HUB24 and Telix Pharmaceuticals are the new generation of trendy, capital-light businesses which have outgrown the small-cap ranks and raced into large-cap portfolios.
Source: https://www.afr.com/chanticleer/the-asx-tipping-point-that-most-investors-missed-20250314-p5ljou