Fund Manager News

September 2018 - Monthly Review "the architecture of the world is changing before our very eyes" Donald Tusk, President of the European Council The world is changing, with trade wars, divisive politics and Brexit. These stem from powerful undercurrents including shifting global power (USto China), inequitable wealth distribution and global immigration. Add in an economic environment…

October 2018 Trade wars, the U.S. Federal Reserve (the Fed), China stimulus and the direction of the U.S. dollar dominate our near-term outlook. At this juncture, U.S. recession risks appear low. European growth can improve over the next couple of quarters. We view emerging markets as oversold, but see a bounce dependent on the next…

3rd October 2018 WHAT TO KNOW ABOUT THE REVAMPED NAFTA DEAL The negotiations for the new NAFTA deal ended last week and Canada joined the deal struck between US and Mexico at the 11th hour. Here are key takeaways about this trade deal: A new name: the USMCA (US-Mexico-Canada Agreement); Car industry: 75% of car parts…

September 2018 Paul Glass: Why business confidence has fallen New Zealand business confidence has fallen to levels last seen during the Global Financial Crisis. While the magnitude of the decline is hard to explain, as economic conditions are clearly far better than during the GFC period, the direction is far easier to understand. Some commentators have…

5th October 2018 Key developments In September we saw a continuation of the theme of low local interest rates in New Zealand, in a broader global environment where bond yields overseas have crept higher. This provided support for the local fixed interest and equity markets, while the NZ dollar remained at its recent low levels.…

Harbour Asset Management Limited Appoints Chris Di Leva as Multi-Asset Specialist Harbour Asset Management (Harbour) is delighted to announce the appointment of Chris Di Leva CFA® to a new role as Multi-Asset Specialist based in our Wellington office from 10 October 2018. Chris joins Harbour from Mercer (NZ) Limited where he has worked since 2011.…

Mint Investor Education Series: How reducing volatility can sharpen returns Fear is back. After years of unnatural calm on global share markets, 2018 began with a sharp reminder that prices can rapidly travel in more than one direction. Indeed, the most-quoted indicator of investor anxiety – the US stock market Volatility Index (VIX) – went…

September 2018 Portfolio review The Fund fell 1.0% in September, trailing global markets for the month (0.4%). Global markets were up 0.3% in USD terms, with a small fall in the Australian dollar providing the difference. Global equities had a mixed month, with fears of Emerging Markets contagion offsetting the positives from stronger US macro…

17th September 2018 The Deal on the Dollar: Divergence Francis A. Scotland  - Director of Global Macro Research Bad things tend to happen when the U.S. dollar rises too much. Unfortunately, there has been a lot of that lately, with most of it playing out in the emerging world, at least so far. The dollar…

September 2018 Market Commentary September saw the New Zealand market hang onto its strong August returns, ending the month up 0.4%. Developed markets outside of Australia (-1.3%), all made positive moves with the US (+0.6%), UK (+1.2%) and Japan (+6.2%) up, while Emerging markets fell 1.1%. Over the month, the US led trade wars continued…

September 2018 FundSource produce independent reports and ratings for funds, to help investors make informed choices. An updated report for the Global Multi-Asset Fund is now available to download and its 'AA' rating has been maintained. The report highlights the flexibility of the two underlying mandates as key feature to achieve its objective of generating…

October 2018 Greg Fleming hosts again this month, he expects ongoing volatility in the short term, particularly with US mid-term elections on the horizon, and explains how this shapes the positioning of AMP Capital’s diversified funds. Hear what Greg has to say here.