Market & Portfolio Update - July 2021
Global share markets had another good month, with the US market performing well. July saw many US companies report their latest financial results, with around 85% of companies beating the market’s expectations. Investments in overseas shares also benefitted from the NZ dollar falling over the month. This added approximately 2% to the portion of your overseas investments where the currency is ‘unhedged’ and free to move with foreign exchange rates.
The global share managers which we employ to manage part of your global share investments both performed well during July. California-based Fisher Investments led the way, supported by their holdings in a number of large US technology companies. The share price of US technology companies have risen strongly over the past month, with the industry reporting 45% growth in earnings compared to last year.
The New Zealand and Australian share markets were relatively flat during July. The latest Covid outbreak has seen many of the Australian states move back into lockdown. As a result, businesses which rely on physical stores have been impacted. Several New Zealand based companies were also impacted by the lockdowns, such as Kathmandu and corporate travel software company, Serko.
KiwiSaver is changing
Budget 2025 has introduced some significant updates to KiwiSaver. These changes are aimed at ensuring the scheme remains sustainable while helping New Zealanders grow their retirement savings. Whether you are just starting out, nearing retirement, or somewhere in between, here's what you need to know and how it might affect your financial plans.
Lifetime Book Club: Four Thousand Weeks by Oliver Burkeman
In a world obsessed with productivity hacks, endless to-do lists and squeezing more out of every day, Burkeman offers something radical: acceptance. Not of defeat – but of reality. Because when you really look at it, four thousand weeks (roughly 80 years) is all we’ve got. And no app or bullet journal is going to give us more.