Investments

Market Indicators – 31 March 2024

In March, investors who remained optimistic were rewarded as stock markets continued to rise despite an increase in US inflation for the second consecutive month and a slowdown in consumer spending.

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Market Indicators – 29 February 2024

February was a remarkable month, with strong economic data and positive earnings reports leading to the Standard and Poor’s 500 (a stock market index that tracks the performance of 500 large-cap U.S)

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Market update–Quarter ending 31 Dec 2023

Global equity markets[1] rebounded from the previous quarter and returned 9.8% over the December quarter.

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Market Indicators – 31 January 2024

In 2024, the share market had a strong start, with equities (shares) continuing to rise in value. However, fixed income assets (such as bonds) struggled to keep up.

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Market Indicators – 31 December 2023

In 2023, global stocks and bonds had a strong end to the year, with prices rising throughout the final month.

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Market Indicators – 30 November 2023

In November, both stocks and bonds had a strong recovery after a period of uncertainty. This was mainly due to the US Federal Reserve’s decision to keep interest rates unchanged.

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Market Indicators – 31 October 2023

US interest rates are likely to remain higher for a longer period owing to stronger than predicted US GDP and employment growth.

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Market update - 30 September 2023

Most global equity markets gave up some of the year-to-date gains with a return of -2.6% over the September quarter.

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Market Indicators – 30 September 2023

An investor labelled “September Effect” was possibly a cause for the negative share market performance during the month, as stock returns fell back further and bond yields rose once again.

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Market Indicators – 31 August 2023

As we’ve seen in the past, when China experiences economic turmoil, the rest of the world is likely to feel its effects.

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Market Indicators – 31 July 2023

With the often discussed ‘soft-landing’ scenario becoming more of a possibility, investors may have found themselves in an unlikely bull market.

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Market Indicators – 30 June 2023

In June, global share markets showed strength with returns largely driven by players in ‘big tech’ alongside consumer discretionary, industrials and the materials sector.

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Market update – 31 May 2023

Markets got off to a strong start in January as investors became more optimistic about the prospects of slowing inflation.

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Market Indicators - 31 May 2023

Global share markets experienced a negative performance this month as investor sentiment was dampened by concerns over US debt ceiling negotiations.

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Market Indicators - 30 April 2023

Despite concerns about a possible recession, investor sentiment remained largely positive in April. Investors were initially spooked as minutes from the US Federal Reserve’s (‘Fed’) March meeting.

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Market Indicators – 31 March 2023

Global share markets were positive despite the turmoil that engulfed the banking industry.

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Market Indicators – 28 February 2023

Investor skepticism over intentions to fight inflation, led to a month of mostly declines in global share markets.

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Market update – 31 December 2022

While the volatility remained elevated in financial markets over the December quarter, bonds and equities delivered positive returns, recouping some of the losses experienced earlier in the year.

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Market Indicators – 31 January 2023

Global share markets started the New Year with a bang, showcasing a strong rally off the back of a weak December.

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Market Indicators – 31 December 2022

December saw global share markets retreat from advances made in November, continuing their recent ‘see-sawing’ pattern. Fears of a recession and earnings risks remained.

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Market Indicators – 30 November 2022

Global share markets continued to deliver positive returns in November, which was a result of better than expected Consumer Price Index (‘CPI’) readings in the US.

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Market Indicators – 31 October 2022

October was a positive month for investors, as we saw share markets recovering.

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Market update - 30 September 2022

The key story for the September quarter was the pronounced tightening of financial conditions driven by expectations for a more aggressive global rate hike cycle.

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Market Indicators - 30 September 2022

Global share markets continued their decline in September, with the S&P 500 index suffering its worst one-day sell-off since June 2020.

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Market Indicators – 31 August 2022

After a rebound in July, which continued into early August, global share markets saw a broad-based sell-off following US Federal Reserve (‘Fed’) Chair Jerome Powell’s remarks at the Jackson Hole.

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Market Indicators - 31 July 2022

Global share markets experienced a significant rebound in July, after the June lows.

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Market volatility in Q2 2022

Both for the June quarter and year-to-date, what has been most challenging for investors has been the positive correlation between risk assets (equities) and normally defensive bonds.

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What’s happening in the markets?

The June quarter was characterised by sharp declines and intense volatility across both bonds and equities, with cash the only asset class to deliver a positive return.

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Shares and Bonds performance

The Defensive, Moderate Balanced, Growth and High Growth funds in the Scheme have exposure to bonds and shares.

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Share-Bond returns correlation

Since the turn of the century, stocks and bonds have maintained a persistently negative correlation.

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Market Indicators – 30 June 2022

Global share markets suffered another negative month as a slight rebound experienced at the end of May faded.

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Market Indicators – 31 May 2022

Global share markets experienced another difficult month, as markets continued to digest a fast changing economic environment. With weaker than expected global activity in April.

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Market Indicators - 30 April 2022

Global equity markets had their most difficult month since March 2020 as the confluence of global central banks tightening monetary policy, economic growth momentum fading and a challenging corporate.

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Market Indicators - 31 March 2022

We saw ‘lift-off’ in March as the Federal Reserve (the Fed) raised the federal funds rate (the target rate that banks pay to borrow from each other on an overnight basis).

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Market Indicators - 28 February 2022

“There is no purgatory for war criminals - they go straight to hell”, Ukraine’s UN Ambassador Sergiy Kyslytsya said to his Russian counterpart at a United Nations Security Council meeting.

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Market Indicators - 31 January 2022

The start of 2022 was a volatile month for equities. Inflation remained at multi decade highs as a competitive labour market and soaring oil prices sustained pressures.

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Market update – 31 Dec 2021

Risk asset returns were generally positive in the fourth quarter of 2021, although with some divergence at the regional level.

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Market Indicators - 31 December 2021

Financial markets finished the year and the month of December on a strong note despite being disrupted by COVID-19.

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Market Indicators - 30 November 2021

Financial markets ended the month of November on tumultuous footing as rising hospitalizations in Europe due to the Coronavirus alongside the new Omicron variant of the Coronavirus.

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Market Indicators - October 2021

Global equity markets rebounded in October after last month’s rout. Inflation, monetary policy tightening and supply chain woes continued to weigh on economic activity.

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Market update – 30 Sept 2021

While the world grapples with the COVID-19 delta variant, there have been signs of life returning to some form of normal.

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Market Indicators - September 2021

September proved to be a difficult month for Global Equity markets as a slowing global economy, worsening supply chain and the potential Evergrande bankruptcy in China dented investor sentiment.

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Market Indicators - 31 August 2021

In August, the global reopening continued, with a number of countries further lifting pandemic restrictions. This is despite the Delta variant continuing to spread and daily cases picking up across

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Market Indicators - 31 July 2021

The global economic recovery remained strong in July as the Coronavirus vaccination roll-out continued. This was somewhat tempered by the spread of the Delta variant of the virus.

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Market Indicators - 30 June 2021

Global Equities finished the month in positive territory after what was one of the strongest starts to the year since the Dot Com bubble in 2000

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Market Indicators - 31 May 2021

Global equities continued their upward trajectory in May as many developed economies continued to reopen, leveraging off surprisingly efficient vaccine rollouts.

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Market Indicators - 30 April 2021

After a positive March, global share markets continued to perform strongly in April with all major markets (with the exception of Japan) showing positive returns.

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Market Indicator - 31 March 2021

Global equities remained strong through March with the global vaccine rollout giving investors confidence in the year ahead, with the MSCI World Index returning 7.3% in unhedged NZD

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Rays of hope for markets

As we say goodbye to a difficult 2020, there are some positive signs for the global economy.

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Investment Market Commentary

The December quarter was the third consecutive quarter where equity markets rallied from their March correction and significantly outperformed fixed income.

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Market Indicators - 31 Jan 2021

Global share markets finished the last calendar month of 2020 on a positive note!

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Market Indicators - 30 Nov 2020

November was another positive month for developed equity markets, encouraged by reported progress on trade negotiations between the US and China.

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Negative interest rates

Interest rates in New Zealand and around the world are exceptionally low, and have just recently gone lower.

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Market Indicators - 31 Oct 2020

Equity markets failed to find their footing following the turbulence of September, with most major indices experiencing outflows throughout October.

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Investment market performance

The September quarter turned out to be a resilient quarter for risk assets.

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Market Indicators - 30 Sep 2020

Equity markets lost ground in September, bucking their widespread positive trajectory off their pandemic-induced lows.

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Market Indicators - 31 Aug 2020

Equity markets pushed higher in August, supported by continued improvements in global manufacturing data and an indication of persistently dovish central bank policies.

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Market Indicators - 31 July 2020

Global equity markets continued their strong performance in July, with a better-than-expected earnings season in the US and continued fiscal support for households and businesses.

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Market Indicators - 30 June 2020

Global equity markets extended their remarkable quarterly gains throughout June, with the NASDAQ touching record highs

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Market Indicators - 31 May 2020

Global equities climbed and government bond yields rose as the recovery in investment markets continued throughout May.

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Investment market performance - June

Following a strong start to the new decade, share markets around the world fell sharply from mid-February as COVID-19 spread across the globe

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Market Indicators - 30 April 2020

Despite the ongoing global pandemic, markets delivered sharply positive returns in April.

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Market Indicators - 31 March 2020

Despite the ongoing global pandemic, markets delivered sharply positive returns in April.

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Market Indicators - 29 Feb 2020

After touching new highs earlier in the year, global equities and other risk assets sold off sharply in February over concerns about the spread of coronavirus.

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Market volatility & In-Tandem investment

It’s a fact that investment markets are volatile. This is having an impact on In-Tandem and you may have noticed your balance going up and down.

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Market Indicators - 31 Jan 2020

January proved to be an eventful month; after a strong start, culminating in the signing of the phase one deal between the US and China

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Market Indicators - 31 Dec 2019

Progress towards achieving a Phase One trade deal between the US and China fuelled the rise,

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Market Indicators - 30 Nov 2019

November was another positive month for developed equity markets, encouraged by reported progress on trade negotiations between the US and China.

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Market Indicators - 31 Oct 2019

October delivered another positive month for global markets, with global equities rising and bond yields inching higher.

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Market Indicators - 30 Sep 2019

Global markets were once again able to slip into a “goldilocks” phase of accommodative monetary policy and easing trade conflict over September

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Market Indicators - 31 Aug 2019

August was a month marked by volatility, with equity markets struggling as investor risk appetite retreated amid fears of a global recession.

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Market Indicators - 31 June 2019

July served up more positive returns for investors despite signs of increasing market strain and a weakening global economic outlook.

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Market Indicators - 30 June 2019

June was a good one for investors with all major asset classes delivering positive returns and equities recovering from the falls suffered in May.

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Market Indicators - 31 May 2019

May dished up a rocky month for investors, reminiscent of the equity correction seen in December last year.

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Market Indicators - 30 April 2019

April continued the positive start to 2019 for investors, with equity markets maintaining their positive momentum.

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Market Indicators - 31 March 2019

March brought more good news for investors, with most asset classes again posting positive returns.

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Market Indicators - 28 Feb 2019

February delivered more good news to investors with most asset classes posting positive returns for the second consecutive month.

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Market Indicators - 31 Jan 2019

Global markets rebounded in January with all developed markets posting positive returns.

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Quarterly Asset Class Commentary

The three months to March 2018 saw a big change in market dynamics relative to the prior year, and mixed returns across the major asset classes.

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Cash Fund outperform Defensive?

Generally, people invest in bonds because they tend to be defensive assets that support portfolio returns and cash flow requirements when risky assets lose value.

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