BUY HOLD SELL - SIQ
We recently added SmartGroup (SIQ) to our MT Income Portfolio. SIQ is one of Australia’s largest providers of employee benefits and workforce optimisation services for the government, health and corporate sectors.
The novated leasing sector has been bubbling along reasonably well in recent times, with the broad market selloff towards the end of last year making stocks in the space far more attractive from a valuation perspective. We think SIQ is the pick of the bunch but before we explain why, let’s take a closer look at what they do.
SIQ is engaged in outsourced administration, including salary packaging, novated leasing, software, distribution and services, and fleet management services. The Company's segments include Outsourced administration,...Continue Reading