Fund Manager News

Update written by Roger Clayton, Salt Funds Management - 13th January 2021 In New Zealand, the S&P/NZX50 Gross rose +11.4% in the quarter lifting the 2020 return to +13.9%. The performance in Q4 was led by Pacific Edge Biotechnology (+94%) on favourable research reports from two brokers, Fletcher Building (+53%) and Mainfreight (+52%) on positive earnings…

We’re staying Rio Tinto and Meridian have today announced an extension to the Tiwai contract through to December 2024. The government has not as yet needed to provide any support We would expect further announcements on project development with Contact progressing the Tauhara geothermal plant and Meridian developing their Harapaki wind farm. Former Wallabies Half-back,…

The Harbour Investment Outlook summarises recent market developments, what we are monitoring closely and our key views on the outlook for fixed interest, credit and equity markets. COVID-19 hospitalisations continued to increase globally with new strict lockdowns in the UK. However, countries have moved to fast-track vaccines to manage the pandemic. At the time of…

Chief Investment Officer Mark Devcich discusses how interest rates impact valuations. December again was a strong month for markets following on from the record month of November. This surprised me, given the background of rising interest rates. Key themes during the month were US dollar weakness, strength of technology stocks with the Nasdaq market being…

This month CEO and Founder Mike Taylor discusses the crypto craze, and what's in store for 2021. The crypto craze Bitcoin reached its all-time high of over US$40,000 earlier this month, piquing the interest of many. I wanted to touch on Bitcoin briefly because I haven’t talked about it in this newsletter since the last…

India’s fundamental tailwinds of a SIGNIFICANT (1.4 billion), YOUTHFUL (average age 28) and ENTREPRENEURIAL (over 6,000 listed companies and 30% of GDP contributed by MSME’s) population, are expected to propel it to the third largest economy in the world by the end of 2030. The growth in GDP is expected to be driven by the…

At first glance, the performance of financial markets during November was exactly what you may expect when there’s an announcement of a successful vaccine during a global pandemic – namely, that equity markets soared, bond returns were anaemic, the price of gold fell whilst oil prices lifted and “risk-on” currencies (such as the NZ dollar)…

When building a portfolio it is important to invest in a range of businesses that perform differently in a range of different scenarios. Diversification across sectors and between both cyclical and defensive businesses helps reduce portfolio volatility and exposure to any one unexpected scenario (like COVID-19). In constructing our portfolio, we are consistently accessing how…

The summer holidays can be a great time to plough through a few books. The investment team have pulled together a short list of books they have read during the year and would recommend to those interested in the world of business and investment. These may also make good last minute Christmas gifts! 1. The…

Harbour’s internal Macro Research Day is a chance to hear from external research providers, challenge assumptions and anchor our medium-term view. Highly effective COVID-19 vaccines and early rollout are allowing investors to look past the current acceleration in northern hemisphere cases. The New Zealand tourism industry is likely to miss international visitors over summer, however…

Update by Elevation Capital - November 2020 MASTERCARD SUMMARY REPORT INVEST FULL FACTSHEET

The COVID-19 pandemic has produced the most pronounced economic shock in nearly a century. In 2020, recessions around the world were sharp and deep, with significant supply-chain disruptions at times. That said, perhaps more than in previous recessions, policymakers were aggressive in supporting financial markets and their economies. While the global economy continues to recover…