Australian Unity Pro-D Investment Funds – Monthly Fund Updates for December 2024
Share markets finished the calendar year weaker and bond yields were volatile during the month. Rebel forces ousted Syrian dictator Bashar Al Assad amid ongoing unrest in the Middle East, outgoing US President Joe Biden signed legislation to avert a US Government shutdown and the US Federal Reserve cut interest rates by 0.25%, taking its target range to between 4.25% and 4.50%. Investors were surprised by a shift in the Fed's outlook for interest rates which indicated a slower pace of cuts in 2025 due to elevated inflation expectations. The RBA held the cash rate steady during the month following a sluggish September-quarter GDP print and strong Australian unemployment print.
Australian shares declined (-3.1%) in December, with the Materials, Technology and Financials sectors the main detractors while the Consumer Staples and Energy sectors saw modest gains. A-REITs declined (-5.8%). Currency-hedged international shares fell (-1.9%) while currency-unhedged investors gained 2.6%, aided by a sharply weaker Australian dollar vs the US dollar and Euro. The Australian 10-year government bond yield was littlechanged at 4.36% and the US 10-year government bond yield rose by 0.40% to close at 4.57%.
Below are the links to the Fund Updates for the Pro-D Funds as at 31st of December 2024.
Further information
If you would like further information about these investments, please contact your Plus7FM team.
Alternatively, you can speak with a member of our Adviser Services team by calling (08) 8130 5500 or email any questions.
