After a challenging year for investment markets, the final quarter of 2022 delivered some welcome relief with share markets in particular performing strongly.

Positive news during the quarter included some early signs of a reduction in inflation, especially in the USA. The New Zealand dollar is up against the US dollar, and this reflects the expectation that our interest rates will go higher than interest rates in the US.

The feature article in the Newsletter is titled ‘Why is there no Lionel Messi of managed funds?’. This is a reference to the recent soccer world cup and examines why persistent outperformance in sports is unable to be replicated within funds management. It’s recommended reading for those that believe finding a “guru” fund manager is the pathway to investment success.

We hope you had an enjoyable time over Christmas and New Year and are looking forward to 2023 as much as we are.

Read our commentary and featured article here