Aegis Equities Research

Welcome

Aegis is one of Australia’s leading research firms, providing incisive and rigorous securities analysis to investment advisers throughout Australia and New Zealand.

Established in 1999, Aegis was founded to provide unbiased and objective fundamental equities research to the Australasian market. Aegis has fulfilled its founding philosophy and is now a market leader in providing research solutions to the investment community. On 1 April 2010, Aegis was acquired by Morningstar Australasia Pty Ltd ABN 95 090 665 544; Australian Financial Services Licence no. 240892 (“Morningstar”) a leading provider of independent investment research in Australia.

We pride ourselves on the quality and independence of our analysis, underpinned by high calibre staff and a transparent research methodology.

What is different about Aegis?

• Our independence
• Performance
• Extensive Coverage
• Quality Analysts
• Informed Opinion
• Dedicated Stock Coverage
• Freedom from corporate bias
• Freedom from trading bias

Investment Philosophy

We believe that fundamental research into a company’s operations and management is necessary to determine the value of a stock.

We look at three main factors:

1. Is it a good business (i.e. strong or rapidly improving return on equity)?
2. Has it got good management?
3. Is the valuation attractive?

This requires full time coverage of stocks by experienced analysts from the "bottom up" combined with a strategic "top down" view, taking into account the entire industry sector the company operates in.

Stock Coverage

Our flagship product is the Aegis 200, providing fundamental analysis on over 200 stocks listed on the ASX complete with Buy/Hold/Sell recommendation.

We also have basic company profiles on the majority of stocks listed on the ASX

Corporate Research

Aegis can be commissioned to write research reports about industry sectors/sub-sectors, including research on individual companies and their operations.

With all commissioned research, the following strict guidelines are in place to ensure our independence and the quality of the information produced:

• The reports do not contain a BUY, ADD, NEUTRAL, REDUCE or SELL recommendation.
• The research is done on a 'fixed fee' basis so that there is no financial incentive to write a favourable report for any individual company.
• The reports are clearly marked as 'commissioned research'.