The Third Scenario: the end of Goldilocks
While the RBNZ expects to keep the OCR on hold through 2019 and into 2020, in their past two Monetary Policy Statements they have outlined two alternative scenarios: one with stronger inflation pressures; and another with softer economic growth. In our view, the market is currently underestimating the chances of a third scenario, which is a combination of both stronger inflation pressures and softer economic growth.
One of the […]
We have recently conducted a manager review of our AMP Capital Responsible Investment Leaders (RIL) NZ Shares Fund, which is managed in accordance with the AMP Capital Responsible Investment Charter.
The manager review focused on the integration of environmental, social and governance (ESG) factors into the investment process and engagement aspects required under the Charter. As a result of this review, the incumbent manager, Salt Funds Management, is to […]
Why did we attend the Outdoor Retailer Winter Market?
Congress divided – implications for tax, spending and trade policy
A divided US Government is more often the norm than the situation we have experienced in the first two years of Donald Trump’s presidency whereby the Republicans have held the White House and both chambers of Congress (the House of Representatives and […]
The Fund fell 5.4% last month, outperforming global markets which fell 7.6% in USD terms, experiencing the largest monthly fall in more than six years. The October sell-off was broad with all regions falling at least 7.0%.
As at the 8th of November, the Fund is up 0.5% month-to-date, outperforming its benchmark by 0.2% …
The October 2018 Fund Factsheets for the Salt funds are available here:
Market Commentary
October saw an overdue sell-off across global share markets, the sharpest monthly drop since 2010 –ironically, coinciding with an earnings season in the USA producing the best growth since 2010. The sell-off was sparked by higher bond yields – the US 10 year bond rose sharply above 3.2% early in the month. This, coupled with ongoing trade […]
The AMP Capital Responsible Investing Update provides quarterly fund commentary and performance for our Responsible Investment Leaders (RIL) Funds. It also provides an update on key responsible investment engagement themes.
For the latest insights, read the Responsible Investing Update for the third quarter of 2018.
