Context and status
The Griffith Student Managed Investment Fund is a live $600,000 portfolio run by students with oversight from academics and industry practitioners. As an analyst I was allocated one ASX-listed healthcare company, CSL Limited, to research and bring to the investment committee with a recommendation.
This is academic, student-fund work and it is ongoing. The research report below is complete and submitted. The committee's decision and any assessment mark are not back yet, so they are not reported here.
My contribution
The report and models are my own work for the fund. The committee makes the final allocation decision.
- Ran the full research cycle on CSL: business overview, industry structure, competitive positioning, financial forecasting, risks and ESG.
- Built the DCF and relative-valuation models, including the sensitivity and scenario analysis.
- Wrote the investment thesis and prepared a buy, hold or sell call for the investment committee.
Methods and tools
I worked the way a practising analyst would: pulling filings and consensus estimates, building a three-statement forecast, and stress-testing the assumptions before presenting them.
- LSEG Refinitiv Workspace and Morningstar for filings, estimates and market data.
- Excel for the three-statement model, DCF, relative valuation and sensitivity tables.
Work sample
Work sample
Equity research report — CSL Limited (CSL:ASX)
My equity research report for the fund. It covers the business, industry and competitive positioning, financial analysis, risks, and a Hold recommendation with a target price.
Results
The deliverable is the research report and valuation linked above, with a Hold recommendation supported by the analysis in the document. The committee's decision and any mark are still outstanding; I will add them here once they are returned rather than estimate them now.
Limitations and next steps
The recommendation rests on my forecast assumptions, so the call is only as strong as those inputs. A materially different view on plasma-collection economics or the Vifor and Seqirus outlook would change it. Next steps: incorporate committee feedback, keep the model updated against reported results, and revisit the recommendation if the thesis breaks.