Market Commentary
June 2011
Over the past year your portfolio has been changed to have exposure to investments which we believe will assist with recovery of value over the next few years.
The June quarter has seen much of the hard work eroded as a consequence of the continued volatility and debt issues from Europe and uncertainty due to the Federal Government rushing to lead the world with the introduction of the Carbon tax.
The Gillard Government was not successful with the implementation of a mining resource tax, but is using the carbon tax as a back door approach to fill the black hole in their budget.
Market Commentary
March 2011
The quarter has been one of two distinct periods with the Australian sharemarket making a high of 5032 on 17 February 2011 and within four weeks making a low of 4560 on 17 March 2011.
During the quarter the volatility maybe attributed directly to outside events, namely the earthquakes and the tsunami in Japan, that crippled the nuclear power station, and the revolutions and unrest in the Middle East and North Africa.
Market Commentary
December 2010
The ASX All Ordinaries Index is continuing on its recovery path. The index has increased by about 4.5% for the period.
The performance is encouraging but still the Australian Share Market continues to underperform the S&P 500 and the major European markets.
The themes outlined in the October commentary and are not disappearing, briefly, those themes were European debt, the aggressive monetary policy in the United States and China where it is anticipated that growth levels may decline due to raising interest rates and central government interventionist policy.
Market Commentary
June 2010
It's been a long, albeit, slow recovery with the ASX All Ordinaries October quarter closing up 6% at 4852. While it's definitely a step in the right direction, the recovery isn't matching the levels experienced back in March this year.
Six months ago Australia was in a strong trade position. Exports were healthy and our growth was looking good compared to the rest of the world which was suffering the GFC.
Fast forward six months and how things have changed...
