Oct
27
Goldman Fund Buying Aussie Banks in Bullish Bet on Dividends
By
Houses in a suburb of Sydney, Australia.
Photographer: Brendon Thorne/Bloomberg
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Goldman Sachs Asset Management buys during capital raisings
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Bank dividends, earnings are sustainable, Katie Hudson says
Goldman Sachs Asset Management is even more bullish on Australian bank shares after a slew of capital raisings by the nation’s largest lenders dragged stock prices lower.
The money manager, which oversees about A$6 billion ($4.3 billion) in Australian equities, increased holdings in banks amid expectations higher mortgage rates and credit growth can sustain an expansion in earnings and dividends, said Katie Hudson, who is part of the firm’s investment team in Melbourne. Stock-price declines among the so-called big four lenders around the time of the capital raisings were overdone, she said…
Goldman Fund Buying Aussie Banks in Bullish Bet on Dividends
