Presenters:
Paul Moore: Chief Investment Officer and Chairman
Paul discusses equity returns in global markets over the last quarter. He provides insights on the ‘noise’ over the quarter, and why this reinforces how important it is to invest based on business fundamentals.
He discusses the mundane Australian environment, due to the uncertainty with commodities and cyclical headwinds, compounded with the decline in the Australian dollar. He also notes his continued bearish view on the Australian market due to the lacklustre growth prospects.
Paul highlights that global markets are back at their highs and patience is required once again, but that the recent volatility has allowed us to move to a fully invested position.
The decline in oil price, Paul sees as a positive due to the increased benefits to consumers, despite some short term issues it may create. Interest rate hikes in the US this year, he warns, should not be too concerning and may provide disruptions, which will allow opportunities to put capital to work.
Paul sees Europe as more of an issue than the US in 2015, yet likens the Eurozone to the US a few years ago; two steps forward, one step back
Thank you for watching.
