Australian Unity Pro-D Investment Funds – Monthly Fund Updates for November 2024
Share markets saw strong gains in November as bond yields declined. A "clean sweep" electoral victory for Donald Trump surprised markets, driving a rally in many risk assets from equities to Bitcoin. Late in the month, a US-brokered ceasefire deal was struck between Israel and Hezbollah amid cautious optimism regarding the longevity and terms of the deal. The RBA held rates steady and the US Federal Reserve cut interest rates by a further 0.25%, taking the target range to 4.50% to 4.75%.
Headline US CPI inflation printed 2.6% for October, in line with estimates, and headline Australian CPI printed 2.1%, below estimates of 2.3%. Concerns linger over "core" CPI components which remain stubbornly elevated. US GDP growth printed 2.8% annualised in Q3, aided by strong consumer spending which grew at an annualised pace of 3.5%.
Australian shares returned 3.7% for the month, with Technology, Utilities and Consumer Discretionary sectors the best performers. A REITs gained 2.4%. Currency-hedged international equities jumped 4.9% and currency-unhedged investors returned 5.2%, aided by a weaker AUD vs peers. The Australian 10-year government bond yield declined by 0.16% to 4.34% and the US 10- year government bond yield fell by 0.12% to close at 4.17%.
Below are the links to the Fund Updates for the Pro-D Funds as at 30th of November 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.
