What smart money is saying about IDP Education
IEL.AX
No fund has written a full thesis on IDP Education in our archive, but 2 fund letters report a position in it — most recently Forager Australian Shares Fund in August 2026.
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2
Reported positions
1
Bought
0
Sold
2
Letters
Position history
Between Q2 2026 and Q3 2026, 2 fund letters reported a position in IDP Education — 1 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q2 2026 | 1 | 1 | 0 | 0 |
Fund activity · 2 positions · 1 move
- August 2026
“Last year’s fellow problem child, IDP Education (ASX:IEL), is doing a better job of managing a difficult environment. Its 2026 results and cash generation were impressive.”
IDP Education - June 2026
“IDP Education – Leading international student placement agency and high stakes English testing service provider IDP Education was a detractor for the quarter. The company upgraded its FY26 guidance for cost reduction, reaffirmed EBIT in the target range and announced a meaningful share buyback plan driven by strong cash conversion, an improving leverage ratio and an attractive valuation. Despite this, the stock underperformed for two key reasons. First, policy headwinds have worsened in recent months in IDP’s key destination markets of Australia and the UK. Second, IDP was removed from the ASX 200 index leading to technical selling by funds tracking the index. In an uncertain policy environment when universities are subject to much stricter compliance standards, they need high quality students (whose primary aim is education, rather than immigration) and hence rely even more on high-quality agencies like IDP. We expect IDP to gain share and emerge stronger from this slowdown. IDP has multiple levers it can pull including increased pricing, further cost reduction and China English testing market entry to offset some of the impact of reduced volumes. We added to our investment in the quarter as the stock price pulled back to highly attractive levels.”
IDP Education
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