The 2025 calendar year marked a decisive breakout for Australian small caps – can this momentum extend into 2026? Market earnings growth forecasts favour small caps over large caps across FY26–FY27. The recovery cycle also appears to have further room to run, with historical trough-to-peak comparisons pointing to additional upside in both duration and magnitude. Adding to this strength is an emerging resources renaissance at the smaller end of the market, where companies offer diversity of commodity and greater exposure to both gold and high-growth emerging thematics, including electrification and the energy transition.

Portfolio Manager Andrew Maple-Brown joins Dean McLelland, CFA, to share why we’re optimistic about the outlook for global listed infrastructure. Supportive macro conditions—marked by ongoing growth risks and persistent inflation—create an environment where infrastructure assets can thrive. Mega themes like decarbonisation and digitalisation are driving sector growth, while valuations remain attractive compared to broader equities and private markets. Our focus is on high-quality assets with strong strategic positions and barriers to entry, including electric utilities, water utilities and communication infrastructure.

Portfolio Manager Phillip Hudak, CFA, joins Dean McLelland, CFA, to share why he believes the recent resurgence in Australian small caps could extend into 2026. While some domestic tailwinds may ease, Phillip sees a broadening recovery in earnings growth and expects small companies to outperform large caps, reinforcing their investor appeal. Compared to previous cycles, he anticipates compelling upside—not just in the magnitude of returns, but in the duration of this recovery. Improving earnings momentum, stronger market breadth and selective valuation opportunities all point to a favourable environment for active stock pickers.

After a turbulent 2025, value stocks staged a strong rebound in the second half of the year. What drove this shift—and can it last into 2026? In his latest video, Dougal Maple-Brown joins Dean McLelland, CFA, to explore why stretched valuations snapped back, how market favourites like CBA, Wesfarmers and CSL have repriced, and the influence interest rates may have on returns in the year ahead. His outlook for FY2026? It won’t be all smooth sailing – but there are opportunities for those ready to position strategically.

Water infrastructure is a sector the Maple-Brown Abbott Global Listed Infrastructure team view as offering a compelling mix of defensive qualities, essential service delivery, and long-term growth potential. Water utilities typically operate as regulated monopolies, generating stable and predictable cash flows with attractive returns on equity. These companies are benefiting from the strong infrastructure investment tailwinds, driven by aging systems, climate adaptation needs, and tightening environmental standards. In this video, Justin Lannen (Co-Founder and Portfolio Manager) and Zoe Brenner (Associate Analyst) explore the investment opportunities and highlight the scale of investment required to modernize global water systems.

US electric utilities are poised for unprecedented expansion driven by soaring demand from data centers, manufacturing and electrification. The Edison Electric Institute projects $1.1 trillion in capital investment over the next five years – nearly matching the past decade’s total spend. Against this backdrop, we visited key industry players across the US – from utility companies and regulators to renewable developers and data center leaders – to understand the momentum firsthand.

Matt Griffin, Co-Portfolio Manager – Australian Small Companies joins Anna Dadic at Livewire Markets and Luke Laretive from Seneca to discuss where they’re spotting value in today’s small-cap landscape – share how they’re navigating a dynamic small-cap market full of hidden gems and hopefuls and discuss sector-level trends and the traits that separate a potential winner from a flop, and unpack some of the market’s lesser-known winners and a couple of names they think are best avoided for now.

As artificial intelligence rapidly transforms the business landscape, it’s crucial to look beyond the hype and consider the broader implications. While AI promises gains in productivity, speed, and cost efficiency, this piece highlights the often-overlooked risks –such as worker displacement, reputational damage, and regulatory scrutiny – that can arise from poorly governed implementation. It advocates for a governance-led approach to AI adoption, ensuring that companies not only harness its benefits but also safeguard their people, reputation, and long-term value.

There’s been a lot of noise around CBA’s valuation — at its peak, it traded at over 30x forward earnings and made up 12% of the Australian equity market. Media and brokers called it “unprecedented.” But was it really? Dougal Maple-Brown reflects on his 25 years at Maple-Brown Abbott, charting the market weight of Australia’s biggest stocks at their peaks vs. today.