January Newsletter from Loomis Financial

Welcome to 2021. What a year 2020 was, and what a year 2021 is set out to be.

This year, we at Loomis Financial look forward to continuing to engage with you and help you work towards achieving your needs and objectives. As changes to our industry and licensee continue to unfold and come together during this year, Loomis Financial will aim to meet your service needs and expectations smoothly. We would like to thank you for your cooperation and support last year, as we moved through the challenges and changes that 2020 presented, and appreciate your continued cooperation as we move into the new year.

Most of you have now transitioned from our ongoing service agreement to a fixed term advice arrangement of 12 months. While there are no changes to the service offering we are providing, we would like to take this opportunity to kindly remind you of the importance of meeting at least once this year to ensure our strategies and recommendations align with your goals and objectives, as well as contacting us to review your portfolio in the event of a significant change. Your fixed term advice arrangement outlines our service fee, please refer to this document for more details. Should you not be able to locate your fixed term advice arrangement, please do not hesitate to request a copy from our office. Our office will contact you as your appointment is due to schedule a time to go over your portfolios and discuss any changes.

Our advice and recommendations are based on our understanding of your circumstances, as addressed in your Statement of Advice (plan). Overtime, this Statement of Advice can become dated. This could be a result of a significant change occurring (additional investment, change of product and/or lifestyle events (marriage, divorce, children etc)) or even a result of minor amendments over the years, that now result in your plan not reflecting your current circumstances. To provide you with advice, we are required to ensure your Statement of Advice accurately reflects your needs and objectives and provides a clear picture of your circumstances. Should we find that your plan needs to be updated, we will address this with you at your review (as per your fixed term advice arrangement, this plan is an additional cost to your ongoing service fee).

We wish you a healthy and prosperous 2021, and look forward to continuing to work with you to meet your goals and objectives.

Tim, Emily and the Loomis Financial Team

Market Update - December 2020

Highlights:

Joe Biden is the projected winner of the US presidential election, with the passing of the ‘safe harbour’ deadline making it hard for legal challenges to change the outcome.
Globally there were over 60 million confirmed Covid-19 cases at the start of December and numbers continue to rise in the US, South America and Europe.
The UK has begun rolling out the Pfizer-BioNTech vaccine, while Australia and the US are preparing to do the same once the vaccine is approved.
China has ramped up its trade conflict with Australia, putting tariffs of up to 200% on Australian wine and suspending the importation of Australian beef, barley and timber.
The Reserve Bank of Australia left the cash rate unchanged at a record low 0.10% and the board expects rates will not increase for at least three years.

Global economies

The global recovery is underway and is looking sufficiently V-shaped, but recent economic news has been mixed. Infection rates have risen in the US and Europe, causing a loss of momentum, but news of successful vaccine trials have boosted confidence. Central bank policy remains extremely accommodative and fiscal spending is supporting jobs and income

As coronavirus case numbers continue to rise, additional fiscal stimulus is firmly back on the agenda. A bipartisan group of senators will propose a fresh US$908 billion package, including US$288 billion in small business aid and US$180 billion in unemployment benefits.

Europe

Europe’s recovery has set in, even as the region battles resurgent coronavirus numbers and national governments implement new post-lockdown restrictions ahead of the festive season.

China

China is preparing for a large-scale rollout of its own domestically developed coronavirus vaccines.

Asia Region

Japan’s GDP rebounded by an annualised 21.4% in the September quarter (surpassing expectations of 18.9%) following a revised 28.8% contraction in the prior quarter.

Australia

Australia’s economic recovery has found solid footing, underpinned by low Covid-19 case numbers nationwide and news of successful vaccine trials.

If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly on 02 6562 2295

Read the full December 2020 market update report >>

The information in this Market Update is current as at 12/12/2020 and is prepared by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445 on behalf of National Australia Bank and its subsidiaries. Any advice in this Market Update has been prepared without taking account of your objectives, financial situation or needs. Before making any decisions based on the content of this document, the reader must consider whether it is personally appropriate in light of his or her financial circumstances or should seek independent financial advice on its appropriateness. Past performance is not a reliable indicator of future performance. Before acquiring a financial product, you should obtain and read the corresponding Product Disclosure Statement (PDS) and consider the contents of the PDS before making a decision about whether to acquire the product.