Australian Unity Pro-D Investment Funds – Monthly Fund Updates for October 2024
Share markets declined in October as bond yields rose sharply, signaling a rising probability of a Trump election victory and ensuing policy that may result in trade wars, elevated inflation and increased deficits and debt (bond issuance).
Israeli troops made an incursion into Lebanon as the battle with Hezbollah intensified while Iran and Israel engaged in missile strikes against each other. The Bank of Canada cut interest rates by 50bp to 3.75% while the RBA held rates steady. Australia's CPI inflation for the year to the end of September came in at just 2.8% while the September employment growth report was surprisingly strong, indicating that an RBA rate cut may still be some months away.
Australian shares returned (-1.3%) for the month, with Utilities and Consumer Staples hardest-hit, while Financials were the only sub-sector to post meaningful gains. A-REITs declined (-2.6%), currency-hedged international equities lost (-0.9%) and currency-unhedged investors gained 3.9%, aided by a sharply lower Australian dollar. The Australian 10-year government bond yield rose 0.53% to 4.50% pa and the US 10-year government bond yield rose by 0.50% to close at 4.28% pa
Below are the links to the Fund Updates for the Pro-D Funds as at 31st of October 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.
