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			Hello Euroz Member, In this month’s edition, our tech team enforce the importance of estate planning and having Wills in place to ensure individuals and their families are prepared for the unexpected. The month of October is reviewed in Morningstar’s Australian Economic Update and two topics of interest are discussed in this months “Frankly Speaking” section. Advisor

	Morningstar’s Australian Economic Update for November 2018 Although equities, overseas and at home, have been recovering from their sell-offs in October, they are still well below their previous peaks. Looking ahead, the global economy looks like continuing its already long post-GFC expansion into 2019, which should be supportive for growth assets, but equities remain overly dependent on the performance of American shares and the American economy, and there are risks (notably around trade wars and potential mistakes from accidentally overtightening monetary policy) which could derail the outlook. Australia, the Reserve Bank of Australia, or RBA, has come out with a notably more upbeat forecast for business activity, but there is still a wide range of other views and even on the bank's upbeat take, the 2019 economy may not translate into strong corporate profit outcomes. AUSTRALIAN EQUITIES Oct-17 Oct-18 Change 1 Month Change 12 Months ASX200 Accum 58,391.81 60,107.66 -6.05% 2.94% ASX200 Resources Accum 22,355.19 25,931.87 -6.55% 16.00% ASX200 Industrials Accum 55,925.14 56,868.55 -5.09% 1.69% INTERNATIONAL EQUITIES MSCI World Index 2,036.80 2,021.98 -7.42% -0.73% S&P500 (USA) 2,575.26 2,711.74 -6.94% 5.30% FTSE 100 (UK) 7,493.08 7,128.10 -5.09% -4.87% Nikkei 225 (Japan) 22,011.61 21,920.46 -9.12% -0.41% Shanghai Composite (China) 3,393.34 2,602.78 -7.75% -23.30% CURRENCY A-Dollar / US-Dollar $0.77 $0.71 -2.02% -7.63% Trade Weighted Index 65.1 61.9 -0.48% -4.92% FIXED INTEREST Aust 90 Day Bank Bills 1.69% 1.91% -3 bps 22 bps Aust 10 Year Govt Bonds 2.67% 2.62% -4.60 bps -4.33 bps US 10 Year Govt Bonds 2.37% 3.14% 78.7 bps 76.32 bps		Super Splitting Laws Under existing laws in Western Australia, de facto couples are not afforded the same rights as married couples with respect to contested superannuation benefits. This allows certain couples to retain their individual superannuation balances after a relationship breakdown. Frankly Speaking Off Market Buy Backs, Active vs Passive Portfolio Management & Correction and Bear Markets Subscribe Keep up to date by subscribing. Our e-newsletter is sent out regularly and features financial advice from leading professionals.

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