Market & Portfolio Update - February 2024
Markets have started 2024 on the front foot, with global shares up almost 10% in New Zealand dollar terms. The theme of AI integration and its impact on companies continues to play an important role, with technology businesses leading the market.
We also saw an important RBNZ meeting held during the month, with the Reserve Bank holding the Official Cash Rate steady at 5.5%. We gained more clarity on the path to lowering interest rates, with the RBNZ expecting that we may see cuts early in 2025. As a result, we saw banks begin to lower mortgage rates (albeit marginally).
The New Zealand share market saw the latest round of financial reporting, where companies report either their half-year or full-year financial results. Overall, these results fell short of expectations, contributing to the -1.1% return for the New Zealand share market last month. Despite this, there were standout performances, notably from A2 Milk, which surged 20% following robust results. A2 Milk has continued to take market share in a competitive Chinese infant formula market.
How much money do you really need to retire?
“How much do you think you will need to retire?” It’s the kind of question that can spark anything from a shrug to a nervous laugh around the dinner table. After all, most of us are so busy working hard, raising families, and paying the bills that it is easy to put retirement in the “future me will figure it out” basket.
But those dreams, whether it’s more time with the family, travelling, or simply slowing down, all come with a price tag. The real question is: how do you make sure you will have enough to live the retirement you picture?
Lifetime Book Club: Dare to Lead by Brené Brown
“Leaders are not necessarily those with titles, they are the ones who take responsibility for finding potential in people and processes.”
That is the heart of Dare to Lead. This is not your standard leadership guide filled with generic advice and motivational quotes. It is a thoughtful, research-based exploration of what it really takes to lead with courage and authenticity in today’s world.