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Market Updates Archive

Investment Update: Australian Equities - May 2010
Key factors affecting the Australian sharemarket in May were sovereign debt concerns in Europe (and risk of further contagion in the region), the Federal Government’s proposed mining tax, China’s monetary tightening measures and overall risk aversion by global investors.

Investment Update: Fixed Income - May 2010
Despite the announcement of a €750 billion financial rescue package for Greece and other troubled Euro Zone economies, investors continued to doubt whether these measures would succeed and accordingly financial markets were particularly volatile during the month.

Investment Update: Global Property Securities - May 2010
Listed property markets retreated in May as investors became concerned about the longer term impacts of the European sovereign debt crisis on global economic growth. Despite these issues, recent earnings results from listed property companies indicate there is stabilisation to improving property fundamentals.

House View - April 2010
Business confidence in the world’s leading nations has improved to the extent that it is now consistent with above-average economic growth. However, attention has now become focussed on sovereign debt markets.

Investment Update: Australian Equities - April 2010
The Australian sharemarket declined by 1.4% in April. Key themes were concerns about further monetary policy tightening in China and Australia, expectation of a pullback in the resources sector on the back of lower Chinese output and potential tax changes in Australia and lower consumer spending as a result of higher interest rates.

Investment Update: Fixed Income - April 2010
In Australia, tightening of monetary policy has seen an increase in the official cash rate. In overseas markets, Greece and Portugal had their respective sovereign credit ratings downgraded, while the US showed promising economic signals pointing to a steady recovery.

Investment Update: Global Property Securities - April 2010
The listed real estate market continued to deliver positive returns, with the bulk of the return due to a strong month in the Americas and Asian regions. European stocks fell, largely due to concerns regarding the Greek debt crisis.

House View - March 2010
US economic conditions have continued to show improvement, with the corporate sector now willing to spend again. Europe also appears to be stabilising despite the challenge of sovereign stress. In Australia, our economic strength has meant the Reserve Bank of Australia has continued with its aggressive monetary policy  to avoid future inflationary pressures.

Investment Update: Australian Equities - March 2010
The Australian sharemarket posted its largest monthly gain since September last year. Energy and materials stocks were notable outperformers. Market sentiment was characterised by increasing economic optimism. Corporate earnings are anticipated to grow strongly next year.

Investment Update: Global Property Securities - March 2010
Real estate capital values have moved up over the past nine months with cap rates now 6.4% on a weighted average global basis. In terms of expected returns, the overall risk premium has materially decreased due to improving capital values, which in turn has resulted in decreased Internal Rates of Return (IRR) required by investors.