Oct 06

Navigating rough seas

Equity markets have continued their recent gyrations and the analogy with Snakes and Ladders remains relevant. In September Mr Market slid down a snake, but a ladder has appeared early in October. The Australian market has remained an out-performer of its international peers, and we continue to see better valuation support in Australia than offshore. From a portfolio perspective we are taking advantage of volatility where possible and in late September part of the very high cash holding was deployed into the market.

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