Introduction

Quarterly Market Review

International news headlines included the appointment of Xi Jinping to a second five-year term as leader of China’s Communist Party, the ouster of Zimbabwean President Robert Mugabe after 37 years in power and the ongoing investigation into alleged Russian interference in the US presidential election.

Quarterly Market Review

KEY THEMES FOR THE QUARTER

  • Strong Equity Returns from Developed & Emerging Markets
  • Australia among Developed World’s Top Performers
  • Strong Size Premium in Australia & Emerging Markets; Value Mixed
  • Positive Term and Credit Premiums in Fixed Interest
  • AUD down Vs Major Currencies

 GLOBAL MARKET SUMMARY

International news headlines in the quarter included the appointment of Xi Jinping to a second five-year term as leader of China’s Communist Party, the ouster of Zimbabwean President Robert Mugabe after 37 years in power and the ongoing investigation by a special counsel into alleged Russian interference in the US presidential election.

 In Australia, the dominant news story was the parliamentary eligibility crisis involving about a dozen MPs who were confirmed or suspected as dual citizens.  The Turnbull government, bowing to intense pressure, also announced a Royal Commission into misconduct in the banking, superannuation and financial services industry.

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