Fund Manager News

June 12 - William Curtayne - Portfolio Manager The US major equity indices were off over 5% today in largest daily fall since March. The question on everyone minds is whether we are heading back to the lows or if this is a chance to buy. Why has the market sold off? News agencies and market…

Ethical Investing in Focus During the month, The Australian Centre for Corporate Responsibility (ACCR) released a report that found that eight members of the Investor Group on Climate Change supported less than 50% of climate related proposals between 2017 and 2019. A number of funds also don’t release their voting records. As both an active…

The Indian market remains in a state of flux as the Government announced several fiscal measures and a total relief package of AU$400bn. However, most of it pertains to liquidity injections, loans and credit guarantees, while direct fiscal stimulus is quite limited compared to other nations. In our discussions with contacts on the ground however,…

Equity markets retreated from their recent highs last week, with US and European stock markets ending the week lower. The decline was highlighted by Thursday’s deep sell-off that saw the Dow Jones Industrial Average fall nearly 7%, its biggest daily decline since mid-March. For the week, the Dow and the S&P 500 fell around 5%,…

17 June 2020 - Jacob Mitchell, Chief Investment Officer and Lead Portfolio Manager We’ve witnessed dramatic fiscal and monetary responses to the COVID-19 pandemic by governments across the world. Now we must look at how that stimulus is likely to evolve and consider the longer-term outlook for stock markets in this context. From an investment perspective,…

2nd June - Andrew Hunt International Economist In many countries around the World, workers are now being at least partially paid by the state and government guaranteed loans are being provided to companies that the credit markets would otherwise not lend to, given the credit risks involved and low yields on offer. Admittedly, the system is…

We noted last month that across all financial markets there had been a surge in returns as markets priced in the upsides from the world moving out of the COVID-19 lockdowns (both physical and economic). This momentum continued throughout May, and albeit at lesser levels than April, investors still enjoyed strong returns for the month.…

We are pleased to invite you to the latest investment update from Devon Funds. In this webinar, Devon Portfolio Manager's Slade Robertson and Mark Brown will discuss what's been happening in local and global markets and economies and the implications for local equities, and provide an update on Devon's Australasian equity strategies including the Alpha…

Today we were joined by Mark Devcich and we covered off these questions: Why is the stock market not the economy? Are we continuing the active stock picking approach? Are the funds continuing to favour tech stocks? What excites us about the share market going forward? INVESTOR UPDATE 19 JUNE 2020 from Pie Funds on…

We are pleased to invite you to the rescheduled Russell Investments Forum 2020. The way forward – Investment strategy in a changed world will cover a range of topics that we hope will help you to address the fundamental investment questions of the day. The event will feature a wide range of engaging speakers including representatives from…

The Fund experienced another solid month in May with a return of +1.80%. This performance came despite sizeable levels of hedging via our high beta, highly-priced short book and several of our key longs being relatively moribund. We are sceptical of the sharp market rally in recent weeks given it appears to be dependent on…

Market overview Ongoing fiscal and monetary stimulus around the world, and easing of lockdown measures helped global markets rally further in May. The Japanese Nikkei led the way +8.3%, with strong performances across the USA and Europe as well. The MSCI World index rose 4.8%. The NZX50 rose 3.3% and the ASX200 4.4%. Commodity prices…