Author: openjargon

BHP Group Ltd (ASX: BHP) shares have been very strong performers over the past 12 months.

While this is great for shareholders, other investors are now having to pay a premium to buy its shares.

The good news is that according to Bell Potter there is an alternative ASX mining stock to consider buying for exposure to the resources sector.

Which ASX mining stock?

The stock that Bell Potter is bullish on is Develop Global Ltd (ASX: DVP).

The broker highlights that it operates a unique hybrid business model centred on the decarbonisation and energy transition thematic.

This includes high-grade base metal assets such as the Woodlawn Zinc-Copper Mine and the Sulphur Springs and Pioneer Dome DSO Projects. It also has a cash-generative Mining Services division that provides underground development and production for third-party operators.

Bell Potter notes that the ASX mining stock has just given the green light to Sulphur Springs and Pioneer Dome. It was pleased with the news and believes they leave it well-positioned for the future.

Commenting on the final investment decisions, the broker said:

DVP has taken Final Investment Decisions (FIDs) for its Sulphur Springs and Pioneer Dome mining developments, with the latter staged (Stage 1: open-pit mining of 850kt DSO over 1 year). DVP expects to deliver first production at Sulphur Springs by the June 2028 quarter and Pioneer Dome by the December 2026 quarter.

Concurrently, DVP has refinanced its $105m debt facility with Trafigura, entering into an upsized ~$500m senior secured debt facility with Trafigura that will address the financing needs of Sulphur Springs and Pioneer Dome. The terms of the upsized facility are favourable; an 18-month grace period on repayments was secured (including the original Woodlawn debt drawdown in December 2024).

Big potential returns

According to the note, the broker has responded to the news by retaining its buy rating and $7.10 price target on the ASX mining stock.

Based on its current share price of $6.10, this implies potential upside of 16% for investors over the next 12 months.

Commenting on its buy recommendation, Bell Potter said:

DVP’s ability to rapidly bring Pioneer Dome to market presents an opportunity to capitalise on current robust lithium prices, with strong resulting free cash flows to support its balance sheet at a time of heightened capital spend at Sulphur Springs.

EPS changes: Incorporates the Pioneer Dome DSO production scenario outlined in the FID outcome, updated Sulphur Springs economics and non-operational adjustments: nc in FY26; +54% in FY27; and +1% in FY28.

The post Is this ASX mining stock a better buy than BHP shares? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Up 58% in a year, are BHP shares still a good buy today?
• Why Develop Global, IDP Education, JB Hi-Fi, and Wesfarmers shares are pushing higher today
• Do experts rate BHP, Cochlear, and ResMed shares as buys, holds, or sells?
• If you invested $10,000 in BHP shares 10 years ago, here is what they would be worth today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The cost of a comfortable retirement keeps climbing. Inflation may be cooling on paper, but cooling is not the same as falling – prices are still rising, just a little more slowly. That quiet creep matters more than most people realise.

It means the finish line keeps moving.

For Australians turning 50, that is an uncomfortable thought. Retirement is no longer an abstract idea somewhere over the horizon. It is roughly a decade until you can access your super at 60, and around 17 years until the Age Pension kicks in at 67. The window to fix things is still open. It is just narrower than it used to be.

So, where do you actually stand?

The gap hiding in plain sight

The Association of Superannuation Funds of Australia (ASFA) puts the average super balance for a 50 to 54-year-old man at $254,071 and for a woman at $190,175. Useful as a benchmark. Sobering as a starting point.

Because the same body estimates a single homeowner now needs around $630,000 to retire comfortably at 67, while a couple needs $730,000. Those targets rose in February for the first time in three years, driven by exactly the living costs that refuse to sit still.

Line the two numbers up, and the gap is obvious. Many 50-year-olds are sitting on roughly a third of what they will eventually need.

The median tells an even starker story. More than half of Australians in their early 50s hold less than the average, because a handful of large balances drag the average upward. If you feel behind, you are in very good company.

Where the catch-up actually happens

Here is the part that gets missed. Closing the gap is not only about contributing more. It is about what those contributions earn.

A balance growing at 7% a year looks very different over 15 years to one growing at 9%. On a six-figure starting balance, that two-point difference can mean hundreds of thousands of dollars by retirement. Returns are the lever most people leave untouched.

That is why how your super is invested deserves a hard look. Many Australians sit in a default ‘balanced’ option without ever choosing it. A higher-growth allocation – tilted toward shares rather than cash and bonds – carries more short-term volatility, but historically the Australian share market has returned close to 9% a year over the long run, including dividends. Low-cost index exposure, through funds like the Vanguard Australian Shares Index ETF (ASX: VAS) or the iShares S&P 500 ETF (ASX: IVV), is one way some investors build that growth tilt.

Contributions still matter, and the rules are about to get more generous. From 1 July 2026, the concessional contributions cap rises from $30,000 to $32,500. If your total super balance sits under $500,000, carry-forward rules let you mop up unused cap from the previous five years in a single hit – a genuine catch-up mechanism for anyone who has fallen behind. (Higher earners should keep Division 293 in mind, and very large balances Division 296, but neither changes the core opportunity.)

Foolish Takeaway

Turning 50 behind on super is not a verdict. It is a prompt.

The maths is not kind to complacency – markets fall, and the next 15 years will not move in a straight line. However, the same maths rewards action. Slightly higher contributions, a sharper look at how your money is invested, and the simple discipline of aiming for a margin of safety above the bare minimum can reshape what ‘enough’ looks like.

The cost of living will keep rising. The question worth sitting with at 50 is whether your super is built to outrun it.

The post Behind on superannuation at 50? Here’s what to do now appeared first on The Motley Fool Australia.

More reading

• Megaport launches retail entitlement offer after $827 million capital raise
• How big an ASX portfolio earns $50,000 a year in dividends?
• Why this ASX financial stock could deliver a huge return
• Down 52% in 2026, why this ASX All Ords stock now looks ‘incredibly cheap’
• Why WiseTech Global shares could rise 90% in a year

Motley Fool contributor Leigh Gant has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended iShares S&P 500 ETF. The Motley Fool Australia has recommended iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Megaport Ltd (ASX: MP1) share price is in focus today after the company opened its $309 million retail entitlement offer, following a $518 million institutional raise and the announcement of four major AI contracts worth nearly $459 million.

What did Megaport report?

• Retail entitlement offer opened to raise approximately $309 million at $14.30 per new share
• Institutional entitlement offer recently closed, raising around $518 million with 99% take-up
• Combined capital raising seeks to generate $827 million in total proceeds
• Four new AI infrastructure contracts secured with a total contract value of approximately $458.9 million
• FY26 revenue guidance tightened to between $307 million and $315 million
• Pro forma liquidity post-offer estimated at roughly $287.6 million

What else do investors need to know?

Megaport’s retail entitlement offer gives eligible shareholders the chance to purchase 1 new share for every 3.08 shares they already own, at the same price as the institutional component—representing a 13.9% discount to the pre-offer price. Shareholders who take up their full entitlement can also apply for extra shares up to 50% more than their entitlement under a top-up facility, though there’s no guarantee all requests will be filled.

Funds from both raises will help deliver new contracts and seed an on-demand GPU pool to support global AI infrastructure, including major investment in NVIDIA GPUs and additional hardware. The entitlement offer is fully underwritten by Merrill Lynch Equities (Australia) and UBS Securities Australia.

What did Megaport management say?

Chief Executive Officer Michael Reid said:

By combining Megaport’s global footprint of more than 1,100 data centres in 31 countries with Latitude.sh’s platform capabilities, we are building a Globally-Distributed AI Inference Cloud designed to support AI at global scale. The exceptional 99% take-up in the institutional offer reflects the strong support of our institutional shareholders and their confidence in our strategy. We now look forward to our retail shareholders having the same opportunity to participate on a pro rata basis. We’re just getting started. Game on!.

What’s next for Megaport?

The retail entitlement offer closes at 5:00pm (Sydney time) on Monday, 29 June 2026. Megaport will use the proceeds to fund delivery of recent AI contracts, invest in its GPU pool infrastructure, and bolster balance sheet capacity. The company’s guidance for FY26 has been narrowed for revenue, while other targets remain unchanged.

Investors are encouraged to read the full offer booklet and consult their financial adviser before making any decisions. The company expects to provide further operational and financial updates with its full-year results in August 2026.

Megaport share price snapshot

Over the past 12 months, Megaport shares have risen 33%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 1% over the same period.

View Original Announcement

The post Megaport launches retail entitlement offer after $827 million capital raise appeared first on The Motley Fool Australia.

More reading

• Lendlease reaffirms FY26 earnings guidance
• Lendlease Group appoints Nick O’Neil as next CEO and MD
• Super Retail Group outlines 5-year growth strategy and transformation plans
• Atlas Arteria takeover bid extended
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport and Nvidia. The Motley Fool Australia has recommended Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Fifty thousand dollars a year, landing in your account without you lifting a finger. It is the quiet ambition behind a lot of Australian investor portfolios.

Most people size it up the same way. Pick an income target, pick a yield, and divide one by the other.

At a 3% dividend yield, $50,000 a year points to a portfolio of around $1.67 million.

It is a tidy number. It is also wrong.

The simple sum ignores the two forces that shape every income investor’s real result: tax and the franking credits that can soften it. Account for both, and the honest answer stops being a single figure. It becomes a range, and where you land depends almost entirely on your own tax position.

Why assume 3%? Because the broad market currently yields a little above that level. Some quality shares pay more, and you could aim higher. However, planning on a conservative 3% leaves room to be pleasantly surprised rather than disappointed.

Franking credits do heavy lifting

Here is the part the back-of-the-envelope version leaves out.

Fully-franked dividends arrive with a credit attached for the 30% company tax already paid on those profits. You declare the larger grossed-up figure as income, then use the credit to offset your own tax bill. If the credit is bigger than the bill, the difference is refunded.

That one feature pulls the answer in two directions.

Picture someone living mainly off their shares. Fully-franked dividends of around $42,000, once grossed up, sit inside the lower tax brackets. The franking credits more than cover the tax owed, and a refund tops up the rest. After tax, that investor clears roughly $50,000 from a portfolio closer to $1.4 million than $1.67 million.

Now, picture someone still earning a healthy salary. Their dividends stack on top of that income and face a much higher marginal rate. To keep $50,000 after tax, they might need about $57,000 in fully-franked dividends in the 37% bracket, or closer to $66,000 at the very top rate. At 3%, that is a portfolio of roughly $1.9 million to $2.2 million.

Same goal. Same yield. Around $800,000 difference in capital, decided by your tax bracket alone.

The catches worth knowing

A few things can move your number again.

Not every dividend is fully franked. Banks like Commonwealth Bank of Australia Ltd (ASX: CBA) and miners like BHP Group Ltd (ASX: BHP) usually frank in full, but broad funds such as the Vanguard Australian Shares Index ETF (ASX: VAS) pass through only partial franking, and most property trusts pay unfranked distributions. Less franking means less of that valuable offset.

Capital gains tax, meanwhile, is the dog that does not bark. A true income portfolio is one you hold, not one you sell – and CGT is only triggered on a sale. Draw the dividends, leave the shares be, and you sidestep it entirely. That is a quiet part of the appeal.

There is also a structural shortcut. Inside superannuation, earnings are taxed at just 15%, and in the pension phase, that can fall to zero, turning franking credits into a straight cash refund. The same dividends simply travel further.

Foolish Takeaway

So how large does the portfolio need to be? Somewhere between roughly $1.4 million and $2.2 million for $50,000 a year at a 3% yield, with the precise figure set by your tax rate, your franking mix, and whether you invest inside or outside super.

None of it is guaranteed. Yields shift, dividends get cut, and the share market can fall just as you begin drawing on it. But the principle holds. In Australia, the headline yield is only half the story. Franking credits write the other half – and they are why the real number is rarely the one the simple sum hands you.

The post How big an ASX portfolio earns $50,000 a year in dividends? appeared first on The Motley Fool Australia.

More reading

• Behind on superannuation at 50? Here’s what to do now
• Megaport launches retail entitlement offer after $827 million capital raise
• Why this ASX financial stock could deliver a huge return
• Down 52% in 2026, why this ASX All Ords stock now looks ‘incredibly cheap’
• Why WiseTech Global shares could rise 90% in a year

Motley Fool contributor Leigh Gant has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Australian share market has historically delivered a return of around 10% per annum.

While that is a great return, there are some ASX stocks out there with the potential to outperform this.

In fact, Bell Potter has just tipped one ASX financial stock to deliver a return of almost 20% over the next 12 months.

Which ASX financial stock?

The stock that has caught the eye of the broker is Cuscal Ltd (ASX: CCL).

It is an authorised deposit-taking institution that provides B2B payments and regulated data services in Australia.

Bell Potter notes that its offering involves facilitation and connectivity across the value chain, with core capabilities in real-time payments, card issuing and acquiring.

Bell Potter has been looking at recent data and believes the company is positioned to deliver on its guidance in FY 2026. It said:

We expect the February guidance to remain in reach, with 45% of profits expected to be realised in 2H26. Guidance reflects lower net interest income, no cost synergies and high-single-digit volume growth, driving mid-teens earnings growth.

The broker also believes that the ASX financial stock will report double-digit volume growth for the year. It adds:

We expect total volume growth of +11% YOY, enhanced by acquiring +17% YOY and payments +10% YOY. Debit card transactions are undisturbed, with consistent +5% YOY growth from larger card issuers. That is outperformance compared with the pcp. The RBA has also indicated the share of payments made by card has stabilised, with online growing share and mobile wallets gaining. We see this as another angle to guidance and future runway.

Device-not-present debit card transactions are up +10% YOY with mobile wallets growing +60% YOY. Total mobile wallet transactions are up +17% YOY and PayID push payments are still most used for transfers to families and friends, while awareness for PayTo pull payments is low with 5% use from consumers in the past year. We think this will drive volume growth closer to low-double-digits.

Strong potential returns

According to the note, Bell Potter has retained its buy rating and $5.80 price target on the company’s shares.

Based on its current share price of $4.94, this implies potential upside of approximately 17.5% over the next 12 months.

In addition, a fully franked 2% dividend yield is expected over the period, boosting the total potential return to approximately 19.5%.

Speaking about its recommendation, the broker said:

We reiterate our earnings, which are consistent with the February guidance. Our Buy rating and target price are unchanged. CCL is well positioned to benefit from its end-to-end payment capabilities and client portfolio. There is emerging upside with New Zealand land and expand being heavy on in-store transactions. The story of winning clients and cross-selling services would be energised. CCL continues to screen well.

The post Why this ASX financial stock could deliver a huge return appeared first on The Motley Fool Australia.

More reading

• Behind on superannuation at 50? Here’s what to do now
• Megaport launches retail entitlement offer after $827 million capital raise
• How big an ASX portfolio earns $50,000 a year in dividends?
• Down 52% in 2026, why this ASX All Ords stock now looks ‘incredibly cheap’
• Why WiseTech Global shares could rise 90% in a year

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The All Ordinaries Index (ASX: XAO) has dropped 2.2% in 2026, but this ASX All Ords stock has had a much harder time of it.

The struggling company in question is Peter Warren Automotive Holdings Limited (ASX: PWR).

Shares in the automotive dealership group were down 2.2% on Wednesday, trading for 88 cents apiece.

This puts the ASX All Ords stock down a sharp 51.9% year to date. Losses that will only be modestly eased by Peter Warren’s fully franked 8.0% trailing dividend yield.

We’ll look at why Ben Rundle, a partner at Hayborough Investment Partners, believes Peter Warren shares are now selling for a steep bargain below.

But first…

What’s been pressuring the ASX All Ords stock?

We need look no further than Peter Warren’s 1 June trading update to see what’s put the share price under heavy selling pressure.

Citing significant deterioration in trading conditions over recent weeks, the company substantially downgraded its FY 2026 underlying profit before tax guidance to $12 million to $15 million.

Shares in the ASX All Ords stock closed down 25.4% on the day.

“Trading conditions in recent weeks have been unprecedented,” Peter Warren CEO Andrew Doyle said.

“Customer preferences are changing rapidly, accelerated by increased fuel prices and cost of living pressures,” he added, pointing to the three RBA interest rate hikes this year and the ongoing conflict in the Middle East.

Looking ahead, Doyle added:

We have been increasing the pace of change in the company, continuing to add new brands to our portfolio. Our overall order intake is up significantly, with exceptional growth in our recently added Chinese brands. We are well placed as new and attractive models continue to come to market.

We are focussed on strengthening revenue and cost efficiency within areas of the business that we can control.

Why this fundie is snapping up Peter Warren shares

When asked which stock his fund holds that is most undervalued by the market, Hayborough Investment Partners’ Rundle pointed to Peter Warren (courtesy of The Australian Financial Review).

“The recent fall in the share price of Peter Warren Automotive has allowed us to take a position in the company at what we think is an incredibly cheap valuation,” he said.

“Car sales in Australia have declined rapidly, which has caused their earnings to fall. The current share price is trading well below the value of just the land they own,” Rundle added.

Summarising his bullish longer-term outlook on the beaten-down ASX All Ords stock, Rundle concluded:

It essentially means we are getting the business of selling cars for free. The company has been operating for over 65 years, has been through many cycles and has three of Australia’s most experienced car retailing families as shareholders.

The bottom of the cycle may not be in yet, but for a patient investor, today’s share price looks attractive.

The post Down 52% in 2026, why this ASX All Ords stock now looks ‘incredibly cheap’ appeared first on The Motley Fool Australia.

More reading

• Behind on superannuation at 50? Here’s what to do now
• Megaport launches retail entitlement offer after $827 million capital raise
• How big an ASX portfolio earns $50,000 a year in dividends?
• Why this ASX financial stock could deliver a huge return
• Why WiseTech Global shares could rise 90% in a year

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PWR Holdings. The Motley Fool Australia has positions in and has recommended PWR Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It has been a difficult 12 months for WiseTech Global Ltd (ASX: WTC) shares.

During this time, the logistics solutions technology company’s shares have lost 65% of their value.

Is this a buying opportunity for investors? Bell Potter thinks it is.

Bell Potter on WiseTech shares

The broker has been looking at the company’s progress in getting large customers over to its CargoWise Value Packs.

It suspects that this is proving harder to accomplish than first expected. Bell Potter explains:

WiseTech CEO Zubin Appoo said at the 1HFY26 result in February he was “confident and hopeful” that the company would migrate some of the remaining 5% of customers – representing c.30% of CargoWise revenue – across to CargoWise Value Packs (CVP) this financial year. As of yet, however, there has been no announcement or indication that one or more of these customers have moved across so we suspect it is proving more difficult or at least more time consuming to achieve this outcome.

In light of this, the broker has trimmed its revenue forecasts. It adds:

As a result we are modestly reducing our CargoWise revenue forecasts in the short to medium term given we expect this transition to provide a boost to revenue with the shift to transaction-based pricing. We also see some risk that WiseTech may have to provide greater incentives for these customers to shift – such as transitional price protection (TPP) or additional training – which would also have a negative impact.

Bell Potter remains bullish on WiseTech shares

According to the note, Bell Potter has retained its buy rating on WiseTech shares with a trimmed price target of $71.75 (from $78.75).

Based on its current share price of $38.05, this implies potential upside of almost 90% for investors over the next 12 months.

Commenting on its recommendation, Bell Potter said:

We have reduced the multiples we apply in our PE ratio and EV/EBITDA valuations from 55x and 30x to 50x and 27.5x and also increased the WACC we apply in the DCF from 8.6% to 8.8% given the lack of apparent progress in shifting large customers to CVP and the resulting downgrades in our forecasts.

These changes combined with the downgrades have resulted in a 9% decrease in our TP to $71.75 which is still, however, a significant premium to the share price so we maintain our BUY recommendation. That is, we believe the lack of progress is already reflected in the share price as well as the risk of a revenue result at the low end of guidance.

The post Why WiseTech Global shares could rise 90% in a year appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Are these the 3 best value ASX 200 shares right now?
• Here’s what brokers tip for WiseTech shares over the next 12 months
• 5 things to watch on the ASX 200 on Wednesday
• Why are ASX 200 tech stocks like WiseTech, Life360 and Xero shares getting hammered on Tuesday?

Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Lendlease Group (ASX: LLP) share price is in focus after the company reaffirmed FY26 earnings per security guidance for its core Investments, Development and Construction (IDC) business at 28–34 cents, while updating investors on the progress of its capital recycling program.

What did Lendlease report?

• FY26 earnings per security guidance (IDC segment): 28–34 cents, subject to targeted completions
• Underlying group gearing at FY26 expected in the mid-30% range
• New work secured for Construction in FY26 expected to be ~$6.5 billion
• Backlog Construction revenue at 30 June 2026 forecast at ~$8 billion
• Over $2.9 billion in Capital Release Unit (CRU) transactions announced or completed since May 2024

What else do investors need to know?

Lendlease continues to work through its asset recycling strategy, with several major transactions close to completion. These include the TRX Retail and Office divestment in Malaysia (~$400 million) and multiple UK development projects in a joint venture with The Crown Estate (~$300 million), both anticipated to settle over FY26 and FY27 depending on conditions.

Underlying group gearing is now expected to be in the mid-30% range at June 2026, reflecting the timing of asset sales and more challenging market conditions. Management highlighted that most large, complex capital recycling transactions are either complete or nearing finalisation, which should assist in reducing net debt and simplifying the business.

What’s next for Lendlease?

Lendlease plans to continue simplifying the business while prioritising capital efficiency and debt reduction. With a significant pipeline of capital recycling transactions in progress and major development commitments winding down, the company expects improved cash flow in FY27. Management is also focused on a more streamlined approach to capital recycling and a capital-light partnering model for major projects.

The company’s investment grade credit rating was reiterated in May 2026, supporting future plans. As FY27 approaches, further asset sales and settlements are expected to drive lower capital outflows, while Construction and Investments divisions aim to generate positive cash flow independently.

Lendlease share price snapshot

Over the past 12 months, Lendlease shares have declined 55%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 1% over the same period.

View Original Announcement

The post Lendlease reaffirms FY26 earnings guidance appeared first on The Motley Fool Australia.

More reading

• Megaport launches retail entitlement offer after $827 million capital raise
• Lendlease Group appoints Nick O’Neil as next CEO and MD
• Super Retail Group outlines 5-year growth strategy and transformation plans
• Atlas Arteria takeover bid extended
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Of all the exchange-traded funds (ETFs) on the ASX, it is the Vanguard Australian Shares Index ETF (ASX: VAS) that routinely tops the list as our local favourite. For years now, this index fund has commanded more funds under management than any other. Each month, that total seems to climb higher, too.

At the time of writing, Vanguard tells us that VAS has just over $24.3 billion in funds under management. That’s almost $10 billion more than its closest rival, which happens to be another Vanguard ETF – the Vanguard MSCI Index International Shares ETF (ASX: VGS).

So there are more than a few Australian investors who have a stake in the Vanguard Australian Shares ETF.

However, these investors may or may not know exactly what they are buying when they purchase VAS units. Index funds change over time, and most investors who invest in them in the first place do so because they prefer passive, hands-off investing.

Additionally, the S&P/ASX 300 Index (ASX: XKO), which VAS tracks, has undergone some significant changes in recent months. So let’s dive into what you are really buying with this ASX ETF today.

Diving into the Vanguard Australian Shares ETF

As you may gather from its index, the Vanguard Australian Shares ETF offers investors exposure to the 300 largest publicly listed companies in Australia.

However, an investment isn’t just split 300 ways. Like most index funds, Vanguard allocates more capital to larger companies than to smaller ones. So while in theory, VAS allows investors to put money into stocks ranging from Harvey Norman Holdings Ltd (ASX: HVN) and JB Hi-Fi Ltd (ASX: JBH) to Ampol Ltd (ASX: ALD) and Myer Holdings Ltd (ASX: MYR), in practice, the lion’s share of most invested cash ends up with just a handful of stocks.

The ASX has long had a reputation for being heavy with bank and mining stocks. That was always true. However, it has become even more so of late. Investors can thank CSL Ltd (ASX: CSL) for that. For years, healthcare giant CSL was one of the largest companies in Australia, at times ranking third and even second in the ASX 300 Index.

However, CSL has lost a lot of goodwill with investors over the past few years, with its shares dropping from over $270 last August to $90 earlier this month. At the time of writing, they are trading at just over $102 each. At this price, CSL is now the 12th largest ASX 300 share.

Buying VAS on the ASX: What are you really getting?

This void has, naturally, been filled by bank shares and mining stocks. Check out the current (as of 30 April) largest holdings in the Vanguard Australian Shares ETF below to see for yourself:

1. Commonwealth Bank of Australia (ASX: CBA) at 10.68% of VAS’ portfolio
2. BHP Group Ltd (ASX: BHP) at 10.03%
3. Westpac Banking Corp (ASX: WBC) at 4.84%
4. National Australia Bank Ltd (ASX: NAB) at 4.50%
5. ANZ Group Holdings Ltd (ASX: ANZ) at 4.06%
6. Macquarie Group Ltd (ASX: MQG) at 3.06%
7. Wesfarmers Ltd (ASX: WES) at 3.04%
8. Woodside Energy Group Ltd (ASX: WDS) at 2.34%
9. Rio Tinto Ltd (ASX: RIO) at 2.29%
10. Goodman Group (ASX: GMG) at 2.22%

As you can see, you have to get to VAS’ seventh-largest holding to find a stock that isn’t a bank or a miner. In fact, only two stocks on this top-ten list aren’t banks or miners (Woodside is technically an energy stock, but the point still arguably stands).

As you may have also gathered, $10 of every $100 invested in the Vanguard Australian Shares ETF goes into CBA alone, and another $10 or so heads to BHP. Of that $100, more than $25 finds its way to one bank stock or another.

Of course, many investors won’t mind this. Banks tend to be phenomenal dividend payers and have been relatively stable investments over decades. But some might. Perhaps even investors who already own VAS units in their portfolios. Keep these facts in mind if that’s you, or if you are eyeing off this popular ASX ETF in 2026.

The post Buying the Vanguard Australian Shares ETF (VAS)? There’s a big change you should know about appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in CSL, Vanguard Australian Shares Index ETF, and Wesfarmers. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goodman Group, Macquarie Group, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Harvey Norman and Macquarie Group. The Motley Fool Australia has recommended BHP Group, CSL, Goodman Group, Myer, Vanguard Msci Index International Shares ETF, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Lendlease Group (ASX: LLC) share price is in focus after the company announced Nick O’Neil will become its new Chief Executive Officer and Managing Director from 10 September 2026, following a period of leadership transition.

What did Lendlease Group report?

• Nick O’Neil appointed as incoming Chief Executive Officer and Managing Director
• Transition period with Joint Interim CEOs Andrew Nieland (CFO) and Penny Ransom (CIO) from 30 June 2026
• Outgoing CEO Tony Lombardo to step down by 30 June 2026 or earlier
• Nick O’Neil’s remuneration includes $1.8 million fixed pay plus incentive awards and a $4.5 million sign-on grant in Lendlease securities
• No earnings results were included in this announcement

What else do investors need to know?

Lendlease says Nick O’Neil brings over 25 years of global experience across real assets, markets, and investment strategy, including leadership roles at AustralianSuper and Macquarie Group. Lendlease’s board described the appointment as marking the next phase following a strategy reset and significant business simplification.

During the transition, the CEO’s office will be jointly led by CFO Andrew Nieland and CIO Penny Ransom, who are tasked with ensuring continuity until Mr O’Neil officially steps in. Outgoing CEO Tony Lombardo departs after nearly two decades with the company, having led major strategic shifts and asset divestments.

What’s next for Lendlease Group?

Lendlease says it is entering a new phase aimed at revitalising and strengthening the business, following its strategy reset and portfolio simplification. With Nick O’Neil’s focus on real asset management and global investment, investors can expect leadership continuity and a strategic push towards growth and long-term value creation for shareholders.

The group’s immediate priority will be a smooth CEO transition while delivering ongoing projects. Investors will be watching for further strategy updates as O’Neil takes the helm later in 2026.

Lendlease Group share price snapshot

Over the past 12 months, Lendlease shares have declined 55%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 1% over the same period.

View Original Announcement

The post Lendlease Group appoints Nick O’Neil as next CEO and MD appeared first on The Motley Fool Australia.

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