Equity markets have gyrated significantly in recent months. June was the 6th weakest month for the ASX200 in 30 years, followed by a 10% rally from the lows that essentially recouped all of June’s losses, with softness returning in recent weeks. It’s a little like a game of snakes and ladders.
The Australian market outperformed the US and Europe by ~5% in August, buoyed by strong Energy and Materials sectors. From a portfolio perspective we are taking advantage of volatility where possible, adding to some positions and trimming others.
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