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Wednesday, 2 December 2020
Recently trending Welcome to Firstlinks Edition 383Five ways the Retirement Review points to new policiesGraeme Shaw on why investing is at a pivotal momentRetirement Review gives strong views on hoarding of super11 key findings on retirement dreams during the pandemic
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(Written prior to the US election) Perpetual’s Multi Asset team share their perspectives on the most recent developments of the continuously-evolving Coronavirus situation and the related implications on financial markets, the global economy and policy responses.
Over the long term it doesn’t matter who is the President as the US has thrived under different presidencies and parties. At least as important for Australia is the deterioration of our China relationship.
For a view of the US election result and the effect on the stock markets and the economies of the US and Australia, we’re talking with three of Perpetual's investment specialists and researchers.
While most long-term investors accept that market corrections and fluctuations occur over time, severe downturns lead many to question: How to best structure a portfolio to withstand extreme market stress?
Many investors are familiar with the concept of diversification, spreading investments across different asset classes. Most diversified portfolios include growth assets, such as shares and property, as well as defensive assets, such as fixed income and cash.
A fixed income investment is a simple interest only loan. It may be made to a government, semigovernment authority or company; as such, fixed income investments are often referred to as ‘debt’ investments.
The Retirement Income Review goes much further than an innocent-sounding 'fact base', and is sure to guide policies in the run up to the next election. It will change how we think about retirement incomes.
As people stayed home during the pandemic, a bearish view swept over most property sectors, but many have thrived and prices have recovered rapidly. The best opportunities are in long leases with quality tenants.
The Review includes some profound findings, most notable that retirement income should include drawing down far more capital. Expect post-retirement products to proliferate under a Retirement Income Covenant.
Paul Keating is the champion of compulsory superannuation as the central means of funding retirement. In the wake of the Retirement Income Review, he is at his passionate best defending the system, with Leigh Sales.
Investors with heavy allocations to a broad US index should check how much is exposed to tech stocks, especially when valuations look a bit steep. It might be time to reallocate to other sectors or styles.
At some point, policymakers will turn to the task of deleveraging, to work off massive debt burdens built up during the pandemic. Australia is already ticking the boxes on many policies used in the past.
During COVID, bankruptcy rules have allowed small businesses to trade while insolvent. It may mean an SMSF is hit by the collapse of a business leaving trustees struggling to meet their own legal obligations.