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Financial Review Extract

Why this fundie has loaded up on ASX tech stocks

Chris Haynes has revealed which stock he believes people are sleeping on, and why he sees a lot of future upside in the health sector.

Updated Jun 27, 2025 – 12.44pm,

Chris Haynes, head of equities at Equity Trustees Asset Management, says Telix Pharmaceuticals has flown under the radar of Australian investors.
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Chris Haynes is head of Australian equities at Equity Trustees Asset Management, which manages more than $4 Billion that's $4 billion.

What would you say is key in investing in stocks?

At Equity Trustees, we seek quality businesses at reasonable prices, with the intention of holding them for the medium to long term. We aim to look through short-term volatility, such as what we’re currently experiencing. It’s rare to find quality businesses that are cheap. But occasionally, they are. For us, quality is defined by strong management, a favourable industry structure, and a sustainable competitive advantage.

Which stock in your fund(s) has the most upside?

We currently see the healthcare sector as most promising. Uncertainty around “most favoured nation” drug pricing and tariffs in the US has caused the sector to trade at levels not seen in quite some time, both locally and globally.

Once there’s more clarity on these issues, we expect some company shares to begin recovering. Businesses like CSL, among others, are trading at attractive prices relative to the broader market and historical valuations. This sector currently offers many quality businesses at reasonable prices.

What’s a stock you like and own that most people haven’t heard of?

Telix Pharmaceuticals is not widely known, despite having an $8 billion market capitalisation. It’s a commercial-stage biopharmaceutical company focused on developing and commercialising therapeutic and diagnostic radiopharmaceuticals.

Many existing cancer and rare disease therapies are non-selective, affecting healthy tissue and vital organs. Telix’s radiopharmaceuticals are designed to deliver targeted doses of radiation via injection, regardless of where the disease is located in the body. The company generates significant revenue in the prostate cancer diagnostics space, with strong growth forecasted.

What’s particularly exciting is Telix’s therapy pipeline for prostate cancer and its potential expansion into other indications, such as kidney and brain cancer.

Telix is a leader in the radiopharmaceutical field, and more people should know about it.