Auscap CIO Tim Carleton argues that in volatile markets, long‑term returns are ultimately driven by earnings growth and dividend yield, not short‑term noise. Despite a strong market in early 2026, many mid‑cap stocks sold off sharply even as earnings expectations improved, creating valuation disconnects unrelated to fundamentals. Carleton says this environment underpins Auscap’s conviction‑led approach — leaning into high‑quality companies when market dislocation puts them “on sale” and sentiment diverges from long‑term value.

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Tim Carleton

Tim Carleton founded Auscap Asset Management in 2012. He has over 20 years’ experience in the financial services industry. From 2007 to 2011 he was an Executive Director at Goldman Sachs where he was responsible for managing an Australian equities portfolio using proprietary funds. Prior to 2007 he worked at Macquarie Bank within the Investment Banking Group. Tim has a Bachelor of Laws (Hons) and a Bachelor of Commerce from the University of Sydney and is a CFA charterholder, a CMT charterholder, a Senior Associate of FINSIA and a Graduate of the Australian Institute of Company Directors (GAICD). 

Information provided is general information and is for educational purposes only, and does not include, or constitute as, financial product advice.