Market & Portfolio Update - July 2021
Global share markets had another good month, with the US market performing well. July saw many US companies report their latest financial results, with around 85% of companies beating the market’s expectations. Investments in overseas shares also benefitted from the NZ dollar falling over the month. This added approximately 2% to the portion of your overseas investments where the currency is ‘unhedged’ and free to move with foreign exchange rates.
The global share managers which we employ to manage part of your global share investments both performed well during July. California-based Fisher Investments led the way, supported by their holdings in a number of large US technology companies. The share price of US technology companies have risen strongly over the past month, with the industry reporting 45% growth in earnings compared to last year.
The New Zealand and Australian share markets were relatively flat during July. The latest Covid outbreak has seen many of the Australian states move back into lockdown. As a result, businesses which rely on physical stores have been impacted. Several New Zealand based companies were also impacted by the lockdowns, such as Kathmandu and corporate travel software company, Serko.
Reflecting on 2021
Kiwis won’t forget 2021, the year of sudden change to the way we live in New Zealand following the outbreak of Covid and the lengthy lockdowns that followed for some, but not others.
Top tips to stay social when distant, this festive season.
This is the time of year for family, friends and food - but what can you do to feel close and connect to your loved ones when they’re overseas, locked down or isolating? Here’s a few tips on staying social when distant.