Australian Unity Pro-D Investment Funds – Monthly Fund Updates for November 2023
Investment markets achieved strong returns in November, breaking a run of negative monthly returns.
US inflation was near-zero for October, the US Federal Reserve hinted that its cash rate hiking cycle may have ended, and Australia’s October monthly inflation came in below expectations, leading some market participants to conclude that Australia may also have seen its last rate rise in the current cycle.
Australian shares gained 5.1% for the month, to be one of the weaker global markets. The World ex-Australia index jumped 8% (currency hedged), but currency-unhedged investors’ returns were more modest, blunted by a sharply stronger Australian dollar. Bond yields fell sharply, leading Australian fixed interest index to gain 3% for the month, and listed property stocks also benefited from lower yields to post a +10.9% return.
The Funds achieved strong returns for the month, and their one-year returns are solidly positive. Longer term returns are near (Balanced fund) or above (Growth and High Growth funds) the Funds’ inflation-relative objectives.
Below are the links to the Fund Updates for the Pro-D Funds as at 30th of November 2023.
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.
