Earlier this week Peak Asset Management executive director Niv Dagan sat down with Proactive’s Tylah Tully to discuss Peak’s outlook on market trends and upcoming opportunities.
The founder and director highlighted the company’s role in sourcing exclusive investment deals and providing access to high-growth opportunities for its network of high-net-worth clients.
Dagan noted key market themes, including pressure on commodities such as gold, nickel and lithium due to a strengthening US dollar and inflation expectations. However, uranium remains a standout sector, alongside artificial intelligence, blockchain and biotech, which are drawing strong inflows from investors.
He also provided updates on three companies: a blockchain-focused business backed by industry leaders which is preparing for a US listing; a biotech company leveraging artificial intelligence and machine learning with promising applications in clinical trials, which is eyeing a global IPO and Patagonia Lithiumwhich is set to release a mineral resource estimate that could significantly re-rate its valuation.
Looking ahead, Dagan expressed optimism for 2025, citing potential Chinese stimulus and lower interest rates as catalysts for a strong equity market performance.
Client focus
Tylah Tully (TT): Today I'm joined by the founder and executive director of Peak Asset Management, Niv Dagan. This will be a regular catch-up segment where we'll pick Niv’s brain about all things markets and trends. Niv, thanks for joining us today. How are you?
Niv Dagan (ND): Alright. How are you?
TT: I'm good. To start, can you talk to us about Peak and what you do?
ND: Yeah. Look, we're a boutique investment management and corporate advisory business. We're Melbourne-based. Having said that, I spent two years in Canada, which has opened up the North American market for us.
In everything we do, we invest our own capital. As investors, our job is to find curated deals that clients traditionally can't access themselves.
We do the due diligence, meet management teams and conduct thorough assessments. Once everything checks out, we go live with the deal to our investor base.
We have around 5,000 accredited professional investors and about 1,300 active clients whose stocks we manage. We're always on the lookout for great deals — capital raises, pre-IPOs — anything that can make our clients money.
TT: Can you tell us more about your clients? Who are they?
ND: Essentially, they're high-net-worth investors. However, we also work with family offices, institutions and small-cap funds.
When a company approaches us, we undertake due diligence and organise a roadshow. This typically involves meetings with brokers, lunches with CEOs and connecting them with funds and institutions.
We’ve also hosted several initiatives in the past year. For example, we ran a conference at the Ritz-Carlton in Perth, where Proactive was part of it.
Recently, we held a biotech event featuring companies like Mesoblast, which drew about 250 investors. Coming up in March, we’re hosting an event in Hong Kong.
Our role is to help companies get more visibility, increase market support and grow their investor base.
Market trends
TT: Clearly, you're in the know with markets. What are some trends you're seeing right now?
ND: The Trump trade has been interesting. A lot of money has come out of commodities — not because of fundamental changes but due to expectations of higher interest rates and inflationary pressures from Trump’s policies. This has pushed the 10-year and five-year bond rates higher globally.
As the US dollar strengthens, commodities, which are inversely related, have come under pressure. We've seen declines in gold, copper, zinc, nickel and lithium.
However, uranium is seeing a strong run, and we’re very bullish on it. Artificial intelligence, blockchain, cryptocurrencies and biotech are also key themes drawing significant investor interest.
TT: And in terms of Australia, where is the market now, and where do you see it heading?
ND: The All Ordinaries Index is near all-time highs, surpassing the 8,000 level. But on the ground, businesses and consumers are finding it tough due to cost-of-living pressures and high interest rates. The market, however, is forward-looking and reflects expectations nine months down the line.
There’s speculation about further Chinese stimulus, especially with the ongoing US-China trade tensions. Cheaper money and additional stimulus could make 2025 a strong year for equity markets.
TT: Before we wrap up, is there anything interesting in global or Australian markets you want to highlight?
Who to watch
ND: We’re closely watching three companies.
Firstly, Novak, whose stock ticker is NVK. It recently announced backing from prominent figures like Tony Guerra, chairman of Solana Ventures, and Lake Travis, formerly of Binance.
Novak is preparing for a US listing, which is exciting given the large addressable market for blockchain and cryptocurrencies there.
Secondly, we’re following an AI-driven company preparing for a global IPO. It’s using machine learning for clinical trials and has a small market cap but significant potential.
Thirdly, Patagonia Lithium is releasing its mineral resource estimate soon. A family office in Argentina has recently taken a 19.9% stake and we anticipate a significant re-rating of its stock when the estimate is published.
TT: Thanks so much for your time and insights. We look forward to speaking with you next month.
ND: Thanks, Tylah. Thanks for having me.
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