February 2016
The Chinese Year of the Monkey has started in a tumultuous way for investors in a range of asset classes. Australian equities have been dragged along in the wake of a number of major macro headwinds starting with tightening US dollar financial conditions, a sharp drop in the oil price and concerns about the outlook for Chinese economic growth. In addition, we have seen the Sovereign Wealth Funds of oil producing nations offloading equities to raise funds to cover budget shortfalls. With this backdrop, Ralton’s portfolios underperformed their respective benchmarks with several of the portfolios’ stocks impacted by swings in external factors, such as pricing of their outputs or investment returns.
View the January 2016 performance reports: