Market & Portfolio Update - August 2018
Market & Portfolio Update - August 2018
August was a relatively quiet month for share markets, but with currency movements boosting fund returns. The New Zealand dollar fell 5% against the major currencies and this helped the performance of New Zealand investors with investments off shore, reinforcing the importance of global diversification.
Emerging markets (e.g. China, Brazil, Russia) were the standout share markets during August. The fortunes of these markets are typically tied to the performance of commodities as they are some of the largest producers and consumers of a number of different commodities.
We made some changes to funds’ global share investments, to improve their overall return prospects relative to risks. We sold shares in oil rig owner National Oilwell Varco, switching to the more diversified, larger oil services firm Schlumberger. We also sold shares in American Express, whose shares are up strongly over the past year, reinvesting in Visa. These changes are covered in more detail over the page.
Disclaimer: This article has been prepared for the purpose of providing general information, without taking into consideration any particular investor’s objectives, financial situation or needs. Any opinions contained in it are held as at the report date and are subject to change without notice.
The Summer Reset
Summer has a way of easing the pressure. The days feel longer, the calendar softens, and life slows just enough to remind us that not everything needs to be urgent, solved, or optimised right now. It’s a subtle shift, but a powerful one. And it’s what we like to think of as the summer reset.
Lifetime Book Club: Ikigai by Héctor García & Francesc Miralles
“The happiest people are not the ones who achieve the most. They are the ones who spend their lives doing what they love, with purpose.”
That is the central idea of Ikigai.
This is not a hustle manual or a step-by-step guide to success. It is a gentle, thoughtful exploration of what gives life meaning, and how small, intentional choices can lead to a longer, happier, more fulfilled life.