CPD: Global equities- Reflation, duration and salvation

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Reflation In the last quarter of 2021, inflation was definitely the topic du jour; however, inflation is only one third of the reflation story. Reflation is important, because it will likely result from interest rates moving upward and as illustrated in figure one, rates have hit an inflection point. There are three key factors that

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Reserve Bank of Australia board meeting commentary

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The RBA Board meeting on Tuesday is unlikely to elicit much by way of policy announcements or even changes to the policy roadmap. That will come at the next meeting in February when a decision on quantitative easing (QE) will need to be made.  However, unlike most other developed countries, Australia has not had an

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Omicron more a ‘tactical’ than ‘strategic’ consideration

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Powell pivot sees “taper tantrum” or is it “rate rise reflux”? Omicron more a “tactical” than “strategic” consideration at this point. This year the big themes in markets when it comes to central bank policy have been continuing waves of the COVID-19 virus versus price pressures that have morphed into stubbornly persistent inflation. That appears

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CPD: The investment case for climate

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While the world has been preoccupied with the COVID-19 pandemic, another epidemic has emerged alongside it: the accelerating rush among nations and corporations to announce carbon reduction targets to address climate change. This article from GSFM discusses the investment opportunity presented by addressing climate change. While the advent of the internet has been life changing

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GSFM appoints new product manager

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Multi affiliate fund manager GSFM has appointed Natasja Liddell to the newly created position of product manager, to help meet the growing investor demand for GSFM’s stable of funds and to assist in the development of new investment options. Ms Liddell will be based in Sydney and report to chief operating officer, Peter Nichols. Ms Liddell’s career

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CPD: China’s ‘Common Prosperity’ regime – What does it mean for investors?

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This summer China launched a new policy regime, which escalates government steerage of the economy and features two critical initiatives. This article, from one of GSFM’s manager partners Epoch Investment Partners, discusses these policies in detail and outlines what it might mean for investors. There are two initiatives introduced by China earlier this year. First,

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Stephen Miller on the Fed, the RBA and the BoE

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FOMC announces taper Fed Chair “patient” on policy rate increase but will act if necessary. Inflation still “largely” seen as transitory but the FOMC Statement indicates less certainty on that. As was widely anticipated the Federal Reserve’s FOMC announced that the Fed would begin winding down its monthly bond purchases at a pace of $15

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CPD: The tide is turning for dividend investors

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The most recent reporting season affirmed how the global COVID-19 pandemic impacted businesses and sectors in different ways and as expected, announcements of dividend payments for the next 12 months will likely be back in line, or ahead of, those that paid pre-COVID. Max Cappetta, CEO of GSFM investment partner Redpoint Investment Management discusses the

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What does the RBA do when the economic facts change?

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There is a quote that is popularly attributed to John Maynard Keynes that goes “when the facts change, I change my mind. What do you do sir?”. Regardless of whether Keynes stated the above or not (some attribute it to that other quote magnet, Winston Churchill), it may well be a sentiment that the RBA

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RBA Board maintains settings

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There were no real surprises from the RBA Board meeting today with the Governor’s Statement reaffirming that the Board is sticking with the settings outlined in September. Today’s statement preserves the RBA’s cautious approach to the withdrawal of historically high levels of monetary stimulus despite some the cautious optimism attaching to the ability of the

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