Share markets fell for the third month in a row in October, though as we write, much of this has been recovered already in November. The debate over a soft landing versus a recession rages on, with data available to support both arguments. In October, it looked like recession was more likely. More recently, slightly worse economic data and a 0.1% lower than expected US inflation figure have produced a strong market rally.
You can access the latest reports for all Affluence funds from the links below.
Last month we shared a quote from Howard Marks explaining why the fixed income sector offers extremely attractive returns at the moment from what is in most cases a relatively low risk asset class. This month, Greg has expanded more on the topic, including taking a look at the types of fixed income investments we hold in the Affluence Investment Fund. You can read the article here or via the story link below. The Reserve Bank increased interest rates by another 0.25% on Melbourne Cup day, making the sector even more attractive. We’re working on an opportunity for investors to be able to take advantage of the attractive returns available in this asset class, so stay tuned.
Should you wish to invest with us this month, applications for the Affluence Investment Fund and Affluence Small Company Fund close on Friday 24 November. Applications for the Affluence LIC Fund close Wednesday 30 November. 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.