The recent political crisis in Italy has come and gone, but trade wars appear here to stay. U.S. growth leadership will fade in our view as Europe and Japan improve. China is resilient and the U.S. dollar rally is running out of steam.

June 2018

The June fact sheets are now available for Salt Enhanced Property Fund and Salt NZ Dividend Appreciation Fund.

The Elevation Capital Value Fund monthly update for June 2018 is available here.

There is also a feature available here on the fund’s ownership of APN Outdoor, and a takeover offer for that business.

9th July 2018

Key developments
In recent months we have highlighted how economies and markets seem at a crossroads. In June, there was further evidence of an upcoming moderation in domestic economic activity whilst cost pressures appear to be rising. Looking forward, this is a theme that remains near the top of our list of what to watch most closely on the horizon.

Looking back over June, while some macroeconomic data in Europe and Asia disappointed, economic activity in the US remained robust, with […]

6th July 2018

Watch a recording of the July 2018 Market Watch update from Bevan Graham, NZ Chief Economist AMP Capital (click the image below)

Bevan Graham, NZ Chief Economist AMP Capital

6th July 2018

Continued weakness in business confidence is posing downside risks to the growth outlook. From an RBNZ perspective it’s not as simple as lower growth meaning lower interest rates. Lower growth can still be consistent with higher inflation in a capacity-constrained economy. Our base case remains that the next move is a hike, but it’s a long way off. And it’s certainly the case that if the RBNZ feels the need to do anything soon, it’s more likely to […]

In June, James Mitchell (Russell Investments Senior Portfolio Manager, Global Fixed Income) visited New Zealand presenting his outlook for Global Fixed Income.  Russell Investments have put together a record of the main topics that James covered during his presentations.

Read the full Q&A here.

If you missed the webinar hosted by Greg Fleming (AMP Capital, Head of Investment Strategy NZ) on their Income Generator Fund, or would like to take another listen at what was covered, here is a link to a recording of Greg presentation.

Australia’s Time to Shine?

At Devon we focus a significant amount of time and energy on the Australian stock market and we have a heavy investment weighting to it across many of our funds. In recent months our Australian exposure has performed well and has helped drive the good returns we have achieved, however over the past five years the Australian market has notably underperformed the New Zealand market.  As we look to the future we are of the view that valuations […]