{"id":15702,"date":"2026-03-17T10:37:22","date_gmt":"2026-03-16T23:37:22","guid":{"rendered":"https:\/\/staging.paradice.com\/au\/?p=15702"},"modified":"2026-03-17T11:24:34","modified_gmt":"2026-03-17T00:24:34","slug":"paradice-australian-equities-fund-february-2026-commentary","status":"publish","type":"post","link":"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/","title":{"rendered":"Paradice Australian Equities Fund February 2026 Commentary"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"15702\" class=\"elementor elementor-15702\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1789c5ff elementor-section-content-middle elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1789c5ff\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-4fe43daa\" data-id=\"4fe43daa\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9a78ce0 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"9a78ce0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u00a0February, 2026<\/p><h1><strong>Monthly Commentary<\/strong><\/h1><p><strong>Paradice Australian Equities Team<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-30d854db\" data-id=\"30d854db\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6921b7d8 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"6921b7d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/paradice.com\/au\/australian-equities\/\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"200\" height=\"200\" src=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/Australian-Equities-1-200x200.png\" class=\"attachment-featured size-featured wp-image-13513\" alt=\"\" srcset=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/Australian-Equities-1-200x200.png 200w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/Australian-Equities-1-300x300.png 300w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/Australian-Equities-1-150x150.png 150w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/Australian-Equities-1.png 313w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d1b532b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d1b532b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-1b787e8c\" data-id=\"1b787e8c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a73ab5 elementor-widget elementor-widget-image\" data-id=\"5a73ab5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/paradice.com\/au\/wp-content\/uploads\/PALY-Commentary-February-2026-Final.pdf\" target=\"_blank\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1500\" height=\"600\" src=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Monthly-Commentary-Website-Image-5-1.png\" class=\"attachment-full size-full wp-image-15703\" alt=\"\" srcset=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Monthly-Commentary-Website-Image-5-1.png 1500w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Monthly-Commentary-Website-Image-5-1-300x120.png 300w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Monthly-Commentary-Website-Image-5-1-1024x410.png 1024w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Monthly-Commentary-Website-Image-5-1-768x307.png 768w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d70c68f elementor-widget elementor-widget-text-editor\" data-id=\"1d70c68f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"spacing--xs ng-star-inserted\"><div class=\"row ng-star-inserted\"><div class=\"col\"><div class=\"ck-editor ng-star-inserted\"><p><strong>Paradice Australian Equities Fund February 2026 Commentary<\/strong><\/p><p><strong>Performance<\/strong><\/p><p>The portfolio returned 216bps, and underperformed the S&amp;P\/ASX200 Total Return Index (ASX 200) by 195bps over the month net of fees<sup>1<\/sup>.<\/p><p><strong>Key Contributors\/Detractors<\/strong><\/p><p>Positives<\/p><ul><li><strong>BHP (Overweight)<\/strong> \u2013 outperformed following strong dividend expectations<\/li><li><strong>CSL (Underweight)<\/strong> \u2013 underperformed following CEO departure and weaker than anticipated topline trends<\/li><li><strong>Lynas Rare Earths (Overweight)<\/strong> \u2013 outperformed on stronger commodity prices<\/li><\/ul><p>Negatives<\/p><ul><li><strong>Commonwealth Bank (Underweight)<\/strong> \u2013 outperformed following strong credit growth and lower bad and doubtful provisions<\/li><li><strong>Seek (Overweight)<\/strong> \u2013 underperformed amid fears around AI disruption<\/li><li><strong>IAG (Overweight) \u2013 <\/strong>underperformed despite solid results<\/li><\/ul><p><strong>Market Review <\/strong><\/p><p>The US S&amp;P 500 Total Return Index was down 0.8% (in USD) in February. The US Fed held rates at 3.75% as economic data continued to show resilience. Core CPI rose 0.3% month-on-month in January. Non-farm payrolls increased $130k in January and the unemployment rate dropped from 4.4% to 4.3%. The ISM Manufacturing Index rose sharply from 47.9 to 52.6 in January. A dominant theme of the month was concerns around AI disruption impacts on Software as a Service (SaaS).<\/p><p>The ASX 200 was up 4.1% (AUD) driven by a solid earnings season and performance from the heavyweights Materials and Banks. Performance was increasingly two-speed as AI disruption concerns weighed on Technology (9.1%%), whilst Materials benefited from broad based commodity strength and flow into heavy assets and Financials (+9.2%) rose on a strong Banks earnings season. Healthcare (-13.3%) lagged the most, weighed by CSL.<\/p><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69618daa elementor-widget elementor-widget-image\" data-id=\"69618daa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"540\" height=\"316\" src=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-1.png\" class=\"attachment-large size-large wp-image-15706\" alt=\"\" srcset=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-1.png 681w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-1-300x175.png 300w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-378451e4 elementor-widget elementor-widget-text-editor\" data-id=\"378451e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Large outperformed Small Cap indices by 7.3%, almost 2.5 standard deviations above historical averages<sup>2<\/sup>. It was also another reporting season accompanied with record volatility with a third of the ASX200 moving by +\/- 3 standard deviations on result day<sup>3<\/sup>. In aggregate, earnings season surprised to the upside with average EPS modestly up, above expectations, and consensus earnings growth expectations for FY26 now at +13.6% and +9.0% in FY27<sup>4<\/sup>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4963cb4 elementor-widget elementor-widget-image\" data-id=\"4963cb4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"540\" height=\"343\" src=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-2.png\" class=\"attachment-large size-large wp-image-15707\" alt=\"\" srcset=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-2.png 646w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-2-300x190.png 300w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4663257c elementor-widget elementor-widget-text-editor\" data-id=\"4663257c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Outlook\u00a0 <\/strong><\/p><p>We remain moderately cautious in the short term, given an elevated geopolitical conflict backdrop, concerns around private credit markets, ongoing debates about AI investment vs returns and what sectors will be disrupted, and the market\u2019s high starting point. That said, the major economies continue to exhibit resilience through solid employment and earnings growth. The portfolio\u2019s ex-ante beta is 0.94(<span style=\"font-size: 13.3333px;\">5)<\/span>.<\/p><p>In short, we think the level of sell-off in Software as a Service (SaaS) due to fears around AI disruption is overdone. While we cannot know the future of AI, from what we can gather, 1) coding alone has not been the chief success driver of SaaS to date; customers need domain experts, accuracy and reliability and trust; 2) a higher level of collaboration between AI and SaaS is more likely and prevalent to date; 3) AI potentially accelerates product velocity, enables a more intuitive customer experience and potentially increases revenue and margins for those companies investing in the ever advancing capabilities.<\/p><p><strong>Portfolio Positioning <\/strong><\/p><p>We have reduced our Materials exposures as, in our opinion, valuations appear elevated.\u00a0 We have narrowed our Banks underweight following what is, in our view, solid evidence of credit growth across the board. IAG and QBE were added on positive growth outlook and capital management and compelling valuation relative to Banks. We have taken the opportunity to increase positioning amongst select Technology names post the pronounced sell-off.<\/p><p>The portfolio\u2019s active positioning by sector as of 28 February is as follows.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-533a0e8 elementor-widget elementor-widget-image\" data-id=\"533a0e8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"540\" height=\"363\" src=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-3.png\" class=\"attachment-large size-large wp-image-15708\" alt=\"\" srcset=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-3.png 624w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Feb-26-pic-3-300x201.png 300w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-750aaa8e elementor-widget elementor-widget-text-editor\" data-id=\"750aaa8e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>For any other questions in relation to the portfolio, please contact <a href=\"mailto:distribution@paradice.com\">distribution@paradice.com<\/a>.<\/p><p>For further details on fund positioning please refer to the\u00a0Paradice Australian Equities Quarterly <a href=\"https:\/\/paradice.com\/au\/wp-content\/uploads\/PALY_February_2026_Factsheet_Final.pdf\" target=\"_blank\" rel=\"noopener\">Fact Sheet<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72f22b2d elementor-widget elementor-widget-text-editor\" data-id=\"72f22b2d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><sup>1 <\/sup>All indices are Total Return Indices unless otherwise stated.<\/p><p><sup>2<\/sup>S&amp;P\/ASX 100 VS S&amp;P\/ASX Small Ordinaries. Source: Morgan Stanley Research, 2 March 2026<\/p><p><span style=\"font-size: 13.3333px;\">3 <\/span>Source: JP Morgan, Asia Pacific Equity Research, 2 March 2026<\/p><p><span style=\"font-size: 13.3333px;\">4<\/span>Source: Morgan Stanley Research, 2 March 2026<\/p><p><span style=\"font-size: 13.3333px;\">5 <\/span>Source: Bloomberg, 13\/03\/2026<\/p><p style=\"text-align: left;\"><em>Disclaimer:<\/em><\/p><p><em>This material is prepared by Paradice Investment Management Pty Ltd (ABN 64 090 148 619 AFSL No 224158) (Paradice, we or us) to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.<\/em><\/p><p><em>This material is not intended to constitute advertising or advice (including investment advice or security, market or sector recommendations) of any kind. In addition, this material represents only the views of the Paradice Australian Equities team as at the time of release and is not intended, and may not, represent the views of Paradice or any of the other investment teams at Paradice.<\/em><\/p><p><em>Equity Trustees Limited (ABN 46 004 031 298, AFSL No. 240975) (Equity Trustees) is the responsible entity of, and issuer of units in, the Paradice Australian Equities Fund (Fund). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX:EQT).\u00a0<\/em><\/p><p><em>It may contain certain forward looking statements, opinions and projections that are based on the assumptions and judgments of Paradice with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Paradice. Because of the significant uncertainties inherent in these assumptions, opinions and judgments, you should not place undue reliance on these forward looking statements. For the avoidance of doubt, any such forward looking statements, opinions, assumptions and\/or judgments made by Paradice may not prove to be accurate or correct.\u00a0You should perform your own research and due diligence, consult your own financial, legal, and tax advisors before making any investment decision with respect to transacting in any securities covered herein. Specific securities identified herein are not representative of all securities purchased, sold, or recommended by the Fund previously or in the future. Following publication of this material, the investment teams at Paradice may transact or continue to transact in any of the securities covered herein, and may be positive, negative or neutral at any time hereafter regardless of our initial conclusions, or opinions.<\/em><\/p><p><em>The content of this publication is current as at the date of its publication and is subject to change at any time. It does not reflect any events or changes in circumstances occurring after the date of publication.\u00a0<\/em><\/p><p><em>You should consider your own needs and objectives and consult with a licensed financial adviser when deciding whether the Fund is suitable for you. Past performance should not be taken as an indicator of future performance. You should also read the current Product Disclosure Statement before making a decision about whether to invest in this product and the Target Market Determination available at <\/em><a href=\"http:\/\/www.paradice.com\/\"><em>www.paradice.com<\/em><\/a><em> . A Target Market Determination is a document which describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. This material is not to be copied, reproduced or published at any time without the prior written consent of Paradice. Neither Paradice, Equity Trustees, nor any of their respective related parties, directors or employees, make any representation or warranty as to the accuracy, completeness, reasonableness or reliability of the information contained in this publication or accept liability or responsibility for any losses, whether direct, indirect or consequential, relating to, or arising from, the use or reliance on any part of this material.\u00a0 <\/em><\/p><p><em>The information and opinions contained herein, including information obtained from third party sources which are considered to be reliable, are not necessarily all-inclusive and, as such, no representation or warranty, express or implied, is made as to the accuracy, completeness or reasonableness of any assumption contained herein and no responsibility arising for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Paradice, its officers, employees or agents.<\/em><\/p><p><em>Copyright\u00a9 2026 Paradice<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-3181f367\" data-id=\"3181f367\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-22a95bf5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"22a95bf5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-35fcf769\" data-id=\"35fcf769\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-17e56316 elementor-widget elementor-widget-image\" data-id=\"17e56316\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/paradice.com\/au\/team\/\" target=\"_blank\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"540\" height=\"540\" src=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/2022\/08\/Julia-Weng-Paradice-Investment.jpg\" class=\"attachment-large size-large wp-image-5644\" alt=\"\" srcset=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/2022\/08\/Julia-Weng-Paradice-Investment.jpg 1000w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/2022\/08\/Julia-Weng-Paradice-Investment-300x300.jpg 300w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/2022\/08\/Julia-Weng-Paradice-Investment-150x150.jpg 150w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/2022\/08\/Julia-Weng-Paradice-Investment-768x768.jpg 768w, https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/2022\/08\/Julia-Weng-Paradice-Investment-200x200.jpg 200w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5013e531\" data-id=\"5013e531\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1c1564ae elementor-widget elementor-widget-text-editor\" data-id=\"1c1564ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Contributors:<\/strong><\/p><p><strong>Julia Weng<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-4db207fb elementor-widget elementor-widget-spacer\" data-id=\"4db207fb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4abe0795 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4abe0795\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-78741aa7\" data-id=\"78741aa7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b4c96bb elementor-widget elementor-widget-heading\" data-id=\"7b4c96bb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Further Information<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4ebbff elementor-widget elementor-widget-text-editor\" data-id=\"a4ebbff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/paradice.com\/au\/wp-content\/uploads\/PALY-Commentary-February-2026-Final.pdf\" target=\"_blank\" rel=\"noopener\">Download this report as a PDF here<\/a><\/span><\/p><p><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/paradice.com\/au\/team\/\" target=\"_blank\" rel=\"noopener\">Meet Our Investment Teams<\/a><\/span><\/p><p><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/paradice.com\/au\/investor-centre\/\" target=\"_blank\" rel=\"noopener\">Investor Centre<\/a><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>\u00a0February, 2026 Monthly Commentary Paradice Australian Equities Team Paradice Australian Equities Fund February 2026 Commentary Performance The portfolio returned 216bps, and underperformed the S&amp;P\/ASX200 Total Return Index (ASX 200) by 195bps over the month net of fees1. Key Contributors\/Detractors Positives BHP (Overweight) \u2013 outperformed following <span class=\"ellipsis\">&hellip;<\/span> <span class=\"more-link-wrap\"><a href=\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/\" class=\"more-link\"><span>Read More<\/span><\/a><\/span><\/p>\n","protected":false},"author":5,"featured_media":15703,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"_mo_disable_npp":"","footnotes":""},"categories":[76],"tags":[],"class_list":["post-15702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-perspectives"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Paradice Australian Equities Fund February 2026 Commentary - Paradice Investment Management AU<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paradice Australian Equities Fund February 2026 Commentary - Paradice Investment Management AU\" \/>\n<meta property=\"og:description\" content=\"\u00a0February, 2026 Monthly Commentary Paradice Australian Equities Team Paradice Australian Equities Fund February 2026 Commentary Performance The portfolio returned 216bps, and underperformed the S&amp;P\/ASX200 Total Return Index (ASX 200) by 195bps over the month net of fees1. Key Contributors\/Detractors Positives BHP (Overweight) \u2013 outperformed following &hellip; Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/\" \/>\n<meta property=\"og:site_name\" content=\"Paradice Investment Management AU\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-16T23:37:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-17T00:24:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Monthly-Commentary-Website-Image-5-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kathryn Wenborn\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kathryn Wenborn\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/\"},\"author\":{\"name\":\"Kathryn Wenborn\",\"@id\":\"https:\/\/staging.paradice.com\/au\/#\/schema\/person\/32358b2b3fa9f1f683a457fcc69a8425\"},\"headline\":\"Paradice Australian Equities Fund February 2026 Commentary\",\"datePublished\":\"2026-03-16T23:37:22+00:00\",\"dateModified\":\"2026-03-17T00:24:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/\"},\"wordCount\":1287,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/staging.paradice.com\/au\/#organization\"},\"image\":{\"@id\":\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/staging.paradice.com\/au\/wp-content\/uploads\/PALY-Monthly-Commentary-Website-Image-5-1.png\",\"articleSection\":[\"Perspectives\"],\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/\",\"url\":\"https:\/\/staging.paradice.com\/au\/paradice-australian-equities-fund-february-2026-commentary\/\",\"name\":\"Paradice Australian Equities Fund February 2026 Commentary - 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