Market & Portfolio Update - November 2020
Global markets performed very strongly during November. The first catalyst markets liked was the result of the US election. Although we haven’t seen the ‘blue wave’ result the polls were suggesting, it is looking like the US presidency and Senate will be divided. A divided government means it is less likely there will be significant change to regulations, giving more certainty to companies and investors.
The second major catalyst was the positive news from the phase three trials for Covid-19 vaccines. Banks, energy, and travel stocks all performed strongly as a result. The Australian share market in particular, performed well on this news. The Australian market has a larger allocation to these sectors than other global markets, resulting in it being up almost 10% in local currency terms.
Booster have recently increased the holdings in Australian companies that operate in the sectors that are likely to benefit the most from the global economy reopening and reduced the holdings in more defensive style companies. Although it is still likely it will take some time to get back to pre-Covid normality, investment markets tend to look forward so some are positioning funds in expectation of this.
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.