Market & Portfolio Update - June 2021
Returns on overseas investments were supported by the New Zealand dollar falling against most major currencies during the month. The US dollar strengthened by 4% in June after the Federal Reserve brought forward their expectation for hikes in the Fed Funds Rate from 2024 to 2023. Given the strength of the economic data so far this year, there is a possibility this could be brought forward again.
Global share markets were up over 2% for the month in their home currency terms, and almost 6% in NZD terms (due to the weaker NZ dollar). Pleasingly, both our active global share managers delivered significantly higher returns, with California-based Fisher investments, benefiting from their exposure to the technology sector.
The New Zealand and Australian share markets also produced solid returns for the month, although were both relatively quiet on the news front. Many of the higher growth companies were back in favour during June, with their valuations being supported by longer-term interest rates falling back a little after rising in the first part of the year.
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.