An extra dose of uncertainty has been woven into this reporting season, with a wide swathe of stocks, particularly Software as a Service (SaaS) sold off on concerns that AI will disrupt their businesses. In this podcast IML large cap portfolio manager, Daniel Moore, discusses the stocks where he thinks the falls are fair, versus those where he sees value on offer.

Daniel also covers:

• What big Aussie companies are telling him on AI disruption and white-collar redundancies
• Where investors are turning, and why, as they sell off SaaS
• How exposed IML’s large cap portfolios are to technology stocks
• Which resources stocks he likes and what he thinks of gold’s recent run

Recorded on 23 February 2026 DR 77479

According to Sara Cassidy, Head of Portfolio Management for AEW’s North American Business, it is potentially the best entry point for US core real estate in years. Sara says that property valuations have absorbed higher interest rates and declined materially and today valuations are beginning to grow again with total returns expected to be higher.

Listen to the full podcast where Sara talks to Louise Watson about:

• Why US core real estate looks “really attractive” right now
• The opportunity in seniors housing
• The risks and opportunities in data centres
• The role warehouses and industrial play in US core real estate
• How politics and ESG are currently impacting US real estate investing.

This podcast was recorded on Friday, 13 February 2026. DR 77362.

The ASX Small Ordinaries delivered an impressive return of 25% in 2025, comfortably outperforming large caps. Of that 25% return, an amazing 20% came from the materials sector, most of that gold, but what happened in the rest of the market?

In this podcast IML Portfolio Manager Marc Whittaker digs into the performance of Australian small caps last year, as well as giving an update on the performance of IML’s small-mid cap funds and a look ahead to what 2026 might bring.