Market & Portfolio Update - August 2018
Market & Portfolio Update - August 2018
August was a relatively quiet month for share markets, but with currency movements boosting fund returns. The New Zealand dollar fell 5% against the major currencies and this helped the performance of New Zealand investors with investments off shore, reinforcing the importance of global diversification.
Emerging markets (e.g. China, Brazil, Russia) were the standout share markets during August. The fortunes of these markets are typically tied to the performance of commodities as they are some of the largest producers and consumers of a number of different commodities.
We made some changes to funds’ global share investments, to improve their overall return prospects relative to risks. We sold shares in oil rig owner National Oilwell Varco, switching to the more diversified, larger oil services firm Schlumberger. We also sold shares in American Express, whose shares are up strongly over the past year, reinvesting in Visa. These changes are covered in more detail over the page.
Disclaimer: This article has been prepared for the purpose of providing general information, without taking into consideration any particular investor’s objectives, financial situation or needs. Any opinions contained in it are held as at the report date and are subject to change without notice.
Market & Portfolio Update: July 2026
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Lifetime Book Club: Paradox of Choice by Barry Schwartz
In The Paradox of Choice, psychologist Barry Schwartz explores a curious feature of modern life: while freedom and choice are undoubtedly valuable, there can come a point where having more options makes decisions harder, increases our expectations and leaves us questioning whether we made the right choice at all.
From what to buy and where to eat to decisions about careers, relationships and money, Schwartz looks at the hidden mental cost of constantly comparing our options – and makes the case that sometimes, simplifying our choices can leave us better off.