Market & Portfolio Update - August 2021
Global share markets were up over 3% in local currency terms for the month, but with the NZ dollar strengthening against most major currencies, this performance was slightly offset for NZ based investors. The US markets led global markets again, with the insurance sector being one of the best performing sectors. The Booster portfolios have been overweight US insurers since February.
The US market was also supported by the US central bank indicating they are likely to be more patient with raising interest rates than what the market was expecting. Although they did suggest reducing the size of their quantitative easing program later this year, provided the economy continues to make substantial further progress.
The New Zealand share market saw the latest round of financial reporting where companies report either their half year or full year financial results. Overall, the results were strong, with the majority of companies coming in ahead of the market’s expectations, reiterating the strength of New Zealand’s economic recovery.
Lifetime Book Club: The Almanack of Naval Ravikant by Eric Jorgenson
In a world that often confuses busyness with success and income with wealth, this book offers a different perspective. One that suggests true wealth is freedom. Freedom over your time. Freedom over your decisions. Freedom to live life on your own terms.
Maximise Your Miles: Financial Tips for Frequent Flyers
Whether you’re a young Kiwi planning your OE (overseas experience), a family about to embark on that long-awaited trip to Disneyland, or a seasoned business traveller hopping between meetings in Singapore and Sydney, the excitement of travel is unbeatable. But with every adventure comes a bit of financial planning to ensure your holiday memories aren’t clouded by an unexpected hit to the wallet.