As skilful market participants are keenly aware, management teams can be the be-all and end-all of a company. And that simple fact is no less important when it comes to S&P/ASX 200 Index (ASX: XJO) shares.
Great management teams keep their eye on the ball to make the most of every opportunity, whether obvious or not.
They also navigate rough seas – or tricky market movements – with seeming ease, doing all they can to protect shareholder wealth.
So, which ASX 200 shares can boast remarkable management teams?
That question was recently posed to Perpetual portfolio manager James Rutledge and WaveStone Capital principal and portfolio manager Raaz Bhuyan.
Here are three ASX 200 shares the fundies told Livewire are among the best run on the market.
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3 remarkably well managed ASX 200 shares
Carsales.com Ltd (ASX: CAR)
Carsales' management team succeeded in a notoriously tricky exercise and has continued to lead the flourishing business since, said Rutledge.
The company's founder and former CEO, Greg Roebuck – who led the company through its major growth phase – stepped back from Carsales in 2017.
That could have been devastating for the tech company. But, fortunately, it has continued to grow under its strong management team, led by managing director and CEO Cameron McIntyre.
"[Carsales has] invested offshore very well, especially in Korea, and they have a business model that isn't one size fits all in terms of those markets," Rutledge told Livewire.
"They have a good cost discipline, so that's a team that really stands out in the space."
Xero Limited (ASX: XRO)
Bhuyan agreed that Carsales' management team is a good one. However, he said, "the only true technology business we think is good in Australia is Xero."
That tremendous claim is built on the ASX-listed Kiwi company's successful expansion into Australia and New Zealand, the United Kingdom and, most recently, North America.
Xero is led by CEO Steve Vamos. Vamos has been in the technology and digital media industry for more than 30 years, working with Apple, IBM, and Microsoft.
Macquarie Group Ltd (ASX: MQG)
Finally, another well-managed ASX 200 – or make that, S&P/ASX 20 Index (ASX: XTL) – share that's exceptionally well run is Macquarie.
The banking, financial advisory, and investment management services provider is led by Australia's highest-paid CEO, Shemara Wikramanayake.
Bhuyan believes the company's focus on infrastructure and the energy transition will bode well for it. He told Livewire:
We think Macquarie's going to have a cracker result because of what's happened to gas prices in Europe and the US at their March year-end.
Bhuyan is also impressed by the "broader depth of the business, the tenure of the key executives there." He also said Macquarie has positioned itself brilliantly for the coming decade.
"[T]hey've become the biggest fund manager in alternative assets in the world," concluded Bhuyan.
