Are we seeing a change at the top of the ASX? - William Curtayne | Milford

Banks, miners and franking credits. Australian investors summed up in five words.But as the first 6 months of 2025 come to an end, the top of the ASX during this time has been characterised by a struggling resources sector and a strong rotation into banks. Is this the start of a longer term shift? Or is it just a blip?In this episode, we're joined by Will Curtayne, Portfolio Manager of the Milford Australian Absolute Growth Funds and the Milford Dynamic Funds, to unpack these movementsWe discuss:The forces behind CBA’s record PE multiple.Whether the miners’ recent rally is a genuine opportunity or “a move to fade”.How super and passive flows are distorting price discovery at the top of the ASX.Where the next leadership might come from (e.g. healthcare, industrials, small-caps, and a long-term structural case for gold)———-CPD Points: This episode is accredited for CPD points by the Financial Advice Association of Australia (FAAA). Complete the quiz here to claim your points.———-Thank you to Milford for sponsoring this episode of Basis Points, and helping us keep all of our content free.If you want to learn more about Milford's range of funds, visit their website.Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Milford Australian Absolute Growth Fund and Milford Dynamic Small Companies Fund.  Before you invest, be sure to read the Milford Funds Product Disclosure Statements, Target Market Determinations and full Disclaimer at milfordasset.com.au———-Want more Basis Points?Sign up to the Basis Points emailJoin the conversation on LinkedInWatch all episodes in full and our favourite clips on YouTube———-In the spirit of reconciliation, Equity Mates Media and the hosts of Basis Points acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. ———-Basis Points is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697. Hosted on Acast. See acast.com/privacy for more information.

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