Fund Manager News

This recent New York Times op-ed, published 2nd Nov 2019, succinctly summarises Switzerland's economic and social success. The Happy, Healthy Capitalists of Switzerland Forget Scandinavia. Switzerland is richer and yet has a surprisingly equal wealth distribution. Ruchir Sharma - an author, global investor and contributing opinion writer. Like many progressive intellectuals, Bernie Sanders traces his…

December 16th 2019 US equity markets rose last week as the S&P 500 touched an all-time high of 3182 following news that US President Donald Trump had agreed to delay the imposition of new tariffs. The benchmark index ended the week up around 0.7% In New Zealand, the NZX 50 finished flat for the week…

Dec 18th 2019 What a difference a year makes. When we sat down to write down the risks and opportunities for 2019, we were amid a sharp market drawdown. The US earnings season had raised concerns about an earnings recession, the market was worried the Fed was too hawkish and the trade war had injected…

The India Avenue Equity Fund (wholesale) delivered a return of 1.24% for the month of November 2019. Over the last 3 months the fund has delivered 8.45% beating the MSCI India index by 1.94%. In last month’s factsheet, we mentioned that the Government of India (GoI) was likely to disinvest its stake in selected state…

18 December, 2019 - Delano Gallagher - Investment Analyst — Australian Shares Many millennials (and for that matter persons from all age cohorts) may get the feeling they are living their own real life account of the 1990s cult classic, Office Space. In the movie, the computer programmer Peter Gibbons leads a few of his…

18 December, 2019 - David McLeish - Senior Portfolio Manager — Fixed Interest The right investment strategy will depend on a range of factors – many personal to you and your financial objectives.  There are, however, some principles that can help guide you in making this important decision. We explore these below. Consider what you…

18 December, 2019 - Ashley Gardyne -  Senior Portfolio Manager — International Shares The 24-hour news cycle, political controversies and market volatility create dangers for investors. The danger is often not so much the events themselves, but our response to them. Our recent US trip reminded us of these pitfalls and why fundamental research and…

Low-interest rates are challenging. To meet this challenge it is important your investment strategy is match fit for today's environment and that you take a long-term approach. In our view, what we do as an active manager, seeking to beat the market, has become more important than ever. Interest rates are falling and have been…

5th Dec 2019

5th Dec 2019 Strong Global performance Global funds performed strongly in November. Markets were buoyant as investors became more confident about a resolution to the trade war and less concerned about a US recession. We are also seeing signs global growth may be on the rise from depressed levels which has given us the confidence…

5th Dec 2019 Confident consumers In the end, 2019 wasn’t as bad as feared. Markets survived and thrived despite a backdrop of slowing economic growth and political unrest.  Trade wars, a manufacturing slowdown, civil unrest in Hong Kong and the BREXIT fiasco to name just a few.  Why have markets survived regardless? In my opinion there are…

The Fund experienced a solid month in November, with a return of +0.90% after all fees and expenses. In contrast to previous months, where volatile markets saw us add value from both sides of the ledger, general strength in November saw a headwind from our shorts but this was more than offset by several of…