Australian equity markets remained volatile through the June quarter, with valuations and stock dispersion staying near historic extremes. Momentum, rather than fundamentals, was the dominant factor globally — while fundamentally-driven strategies broadly lagged.
We believe the market remains both expensive and distorted relative to long-term valuation norms. In our view, maintaining a disciplined focus on sustainable business models and valuation is key to identifying companies capable of delivering sustainable returns.
Read the full paper for our detailed sector positioning and the three broad themes shaping our portfolios.
![Lazard Australian Equity Strategies Q1 2026 [Video]](/content/dam/lazard-asset-management/finished-assets/marketing-resources/videos/wf1253900/AE-Q1-2026-article-thumbnail.jpg "Lazard Australian Equity Strategies Q1 2026 [Video]")
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