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.
Financial Planning: Mapping Out Your Financial Goals
When was the last time you sat down and not only set some goals, but mapped out the best way to ensure they are achieved? Goal modelling is more than just financial planning - it’s a roadmap to achieving what truly matters to you. It’s getting answers on what you could be achieving in life, and the best way to get there.
At Lifetime, we go beyond just the numbers to understand your life stages, your aspirations and your personal values.
Staying Cyber Smart
At Lifetime, looking after your financial wellbeing includes helping you stay safe online. Lately, we’ve seen an increase in online scam attempts across the financial sector here in New Zealand, so we thought this was a good time to share a few friendly reminders on how you can stay protected.