Welcome to the July edition of the Loomis Financial Newsletter

With the close of the 2016 financial year, it’s time to review what’s happened in investment markets this year and look ahead

Highlights:

• After strong rises in equity prices off the lows in February, developed market equities were weaker in June, following the decision by voters in the UK to elect to leave the European Union (“Brexit”).

• Gold prices rose 9% in June and crude oil prices were a little lower during the month.

• China economic data showed further softness in the manufacturing side of the economy, but other areas such as the housing and services industries were stronger in June.

• US economic data was fairly good, apart from the non-farm payrolls figures, which were the weakest since 2011.

• Economic data in Europe was fairly good – particularly in the UK, Germany and France.  Eurozone inflation continues to tick up and unemployment is gradually heading lower.

• Australia’s economy is in reasonably good shape with consumers and businesses finding conditions reasonably good. Property prices have been rising strongly, helped by the RBA’s rate cut in May.

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

Read full report >>

In this update, Bob Cunneen, Senior Economist and Porfolio Specialist, reviews events in markets during June.

He discusses:

• how Britain’s decision to leave the European Union generated considerable turbulence in markets as well as European politics

• some share markets recovering their balance in the final week of June following soothing comments from Britain’s central bank and the recognition that UK’s exit may take some time, and

• how Australia’s strong growth in consumer spending, housing construction and exports managed to offset the downturn in mining investment.

Find out more:

It seems paradoxical. The self-employed are among the most enthusiastic supporters of self-managed super yet the majority of the self-employed have little or no super.