InvestNow News – 29th May – India Avenue – India Avenue Update – April 2020

Fund and Market Commentary: April 2020

The India Avenue Equity Fund (wholesale) rose 6.4% (net) for the month of April 2020, as global markets rebounded from a tumultuous March. Foreign investor outflows slowed down drastically from US$8.4b in March to US$0.03b in April. The Healthcare, Automobile and Non-Bank Financial Companies were the best performing industries.

Whilst the fall of the AUD during March helped reduced the drawdown, the opposite was […]

InvestNow News – 29th May – Legg Mason – The Dollar is King… Or is it?

Richard Lawrence, Senior Vice President, Portfolio Management – 19 May 2020

The indiscriminate selloff that battered financial markets during March left no stone unturned. For globally focused managers such as ourselves that meant currency markets were a source of significant volatility during the month. While the news from China in early 2020 gave us some concern, there was little foreshadowing of the carnage to come as January and early February […]

InvestNow News – 29th May – AMP Capital – Inching towards greater fiscal integration in Europe

28th May – Bevan Graham – Managing Director and Chief Economist,

The European sovereign debt crisis that reached its zenith over the period 2010-12 exposed a key structural weakness in the construct of the Eurozone common currency – the lack of a cohesive region-wide fiscal strategy. The Eurozone muddled through, though not without some tense moments, but fiscally-speaking ended up wasting the ‘best’ crisis since the Euro […]

InvestNow News – 29th May – ANZ Investments – The Month Ahead – June 2020

Global equity markets stabilised in May, albeit with periods of volatility, as the fallout from the COVID-19 (coronavirus) pandemic – both economic and societal – became a little clearer. The declining number of cases, or ‘flattening of the curve’, in Europe and the US provided some optimism, which saw a number of equity markets make modest gains through the first few weeks of May.

As we head into June, […]

InvestNow News – 22nd May – AMP Capital – Budget 2020

Bevan Graham – Managing Director and Chief Economist, AMP Capital

The Government is throwing the kitchen sink at its response to the COVID-19 crisis. Of course it is only able to do this because of the fiscal restraint shown in the prior decade as the fiscal buffers were rebuilt following the Global Financial Crisis and the Christchurch earthquakes.

There have been repeated calls over the last few years for […]

InvestNow News – 22nd May – Pie Funds – Investor update: Is active management the place to be?

This week we were joined by Australasian analyst Mike Ross and we covered off these questions:

1. What has been happening in markets over the past week?
2. How has the Dividend Fund been positioned?
3. Has the team been adding to investments in any companies that are struggling?
4. How is the active vs passive debate looking at the moment?

InvestNow News – 22nd May – Harbour – Large Fiscal Spending Promises

Hamish Pepper – May 15, 2020

Key Points

• Budget 2020 revealed larger-than-expected potential spending in response to COVID-19
• However, detail was lacking on many spending priorities
• The accompanying larger bond issuance programme may prove difficult for the market to digest, placing upward pressure on government bond yields

As part of its Budget 2020, the Government announced an additional $15.9bn of fiscal stimulus today; taking the total COVID-19 response so far to around $42bn, […]

InvestNow News – 22nd May – Milford – Milford’s view on the Recovery Budget

14th May

Portfolio Manager Mark Riggall and Senior Analyst Frances Sweetman offer insights into the Recovery Budget and what it could mean for the economy and investors.

InvestNow News – 22nd May – Antipodes – Outlook for Oil

8th May – Chris Connolly & Graham Hay

Who would have thought an oil price contract could go negative? This is in fact a reality that has unfolded over the past few weeks.

To understand the dynamic behind ‘negative oil’ we must look at the backdrop in which this had unfolded. The fight against COVID-19 has seen entire economies and communities shutdown, causing an unprecedented decline in oil demand. During the second quarter of […]

InvestNow News – 22nd May – AMP Capital – Negative interest rates in New Zealand?

18th May – Carrick Lucas – Portfolio Manager

There has been increasing speculation that the RBNZ may need to cut its Official Cash Rate (OCR) into negative territory at some point in the future – to provide further support to the economy.

In this new paper, AMP Capital’s Fixed Income team look at the offshore experience of negative rates, their likely efficacy in a New Zealand context, and what […]