Market & Portfolio Update - June 2018
June was a fairly quiet month for world share markets, with most investment funds relatively flat – although this capped off a solid overall first half of the year. Our own NZ share market was the stand-out, helping to offset the effect of a further 3% rise in the NZ Dollar on the value of overseas share investments.
The NZ Dollar’s rise was in tandem with higher long-term market interest rates, as European Central Bank President Mario Draghi acknowledged that the European economy has been growing well – this was seen as hinting at official interest rate hikes moving closer.
More generally, a number of risk factors facing markets have not turned out as badly as initially feared over the past two years. Together with good economic fundamentals, this has supported funds slightly increasing their global share investments during June.
We also added shares in Swiss company Givaudan, a well-entrenched provider of fragrances and food products around the world. The change was funded by selling some shares in Louis Vuitton Moet Hennessy, locking in strong gains over the past year.
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.
KiwiSaver is changing
Budget 2025 has introduced some significant updates to KiwiSaver. These changes are aimed at ensuring the scheme remains sustainable while helping New Zealanders grow their retirement savings. Whether you are just starting out, nearing retirement, or somewhere in between, here's what you need to know and how it might affect your financial plans.
Lifetime Book Club: Four Thousand Weeks by Oliver Burkeman
In a world obsessed with productivity hacks, endless to-do lists and squeezing more out of every day, Burkeman offers something radical: acceptance. Not of defeat – but of reality. Because when you really look at it, four thousand weeks (roughly 80 years) is all we’ve got. And no app or bullet journal is going to give us more.