Overview
Jack McManus is a portfolio manager at Canopy Investors, a Sydney-based global equities boutique. He previously spent a decade working at Magellan Funds Management.
Which stock in the fund is being most undervalued by the market?
Auto Trader Group is the UK’s dominant online car marketplace with 10 times more user engagement than its nearest competitor. The company has historically delivered consistent mid- to high-single-digit sales growth with 70 per cent operating margins, underpinned by strong network effects and pricing power.
Source: https://www.afr.com/markets/equity-markets/fundie-says-market-has-missed-a-trick-on-this-online-business-20251215-p5nnwc