Institutional investors say offshore acquisitions deserve to be treated with a strong dose of scepticism, given the recent performance of local companies expanding internationally.
"The issue is not growth or no growth. The issue is, is it profitable or non-profitable growth. My concern is that many companies have an ambition to grow for the sake of growing," Andrew Macken, a portfolio manager at Montgomery Global Investment, said.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
Matthew Smith writes on personal finance specialising in companies, managed funds and investing themes from our Sydney newsroom. Connect with Matthew on Twitter.
