Australian Unity Pro-D Investment Funds – Monthly Fund Updates for September 2024
Share markets posted gains in September despite the ongoing war in Gaza and a significant escalation in the conflict between Israel and Hezbollah in Lebanon.
The US Federal Reserve surprised markets with a 0.50% maiden rate cut for the cycle, taking the Federal Funds Rate to a target range of between 4.75% to 5.0%. US CPI inflation continued its downward trend, printing 2.5% for the year to August vs 2.9% for the prior print. Australian CPI inflation printed 2.7% for the year to August, down from 3.5% in the year to July. The European Central Bank cut its official cash rate by a further 0.25% and the RBA held rates steady.
The Chinese central bank announced a significant and multi-faceted stimulus package that included interest rate cuts, stimulus measures to spur property lending, a reduction in property deposit requirements and other measures designed to facilitate share buybacks and further investment into equities by institutions. The Shanghai Composite index surged around 20% post-announcement.
Below are the links to the Fund Updates for the Pro-D Funds as at 30th of September 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.
