Every year S&P Dow Jones put out their yearly SPIVA scorecards and if they sound vaguely familiar it’s because we talk about them every year. We talk about them because they’re important.
Global equity and bond markets offered generally solid returns despite the late quarter uncertainty generated by the United Kingdom’s referendum result in favour of leaving the European Union.
After the RBA left interest rates on hold last week the commentary quickly shifted to when they would be cut next. To co-opt a line from Star Wars, you may have felt a great disturbance in the force “as if millions of conservative investors suddenly cried out in terror”.
