In August, the ASX200 index fell 0.7% and most global share markets were down 2-3%. Markets were rattled by increasing US 10 year bond yields, and deteriorating economic indicators out of China. August was full year reporting season in Australia, and overall, consumers appear to be withstanding the tougher economic conditions reasonably well, although forward guidance was relatively soft.
The Affluence Investment Fund recorded a positive return for the month. The Affluence LIC Fund was flat, while the Affluence Small Company Fund was slightly negative. You can access the latest Fund reports from the links below.
Each quarter we provide an update on our market view, and how we’re positioned in each of our fund portfolios. This quarter’s presentation is titled “patience is a virtue”. The key theme is that we are finding a significant number of attractively priced opportunities to buy, and we expect that will continue to be the case. A link to the latest presentation is below.
Should you wish to invest this month, applications for the Affluence Investment Fund and Affluence Small Company Fund close on Monday 25 September. Applications for the Affluence LIC Fund close Friday 29 September. Go to our website and click “Invest Now” to apply online or access application and other forms for any of our funds.
If you have any questions or feedback, reply to this email or give us a call.
Daryl, Greg and the Affluence Team.