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Entrust Investment News

Hello Entrust Member,

In this month’s edition, our tech team reveal the number of factors to be considered to ensure that a self-managed superannuation fund meets the residency conditions. The month of September is reviewed in Morningstar’s Australian Economic Update and two topics of interest are discussed in this months “Frankly Speaking” section.


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Morningstar’s Australian Economic Update for September 2018

The world economy is still growing, which is a generally positive background for risk assets, but investment outcomes have become over-dependent on ongoing gains from U.S. equities. The most likely outlook is ongoing global expansion, though trade wars, monetary policy mistakes, problems in some emerging markets, and geopolitical shocks are all real risks to monitor. Bond yields in the U.S. have headed higher and have contributed to weak performance by global fixed interest and by global income-oriented assets like property and infrastructure; Australasian property markets, however, have been performing better.

In the Australian economy, it looks as if the pace of business activity may be moving into a slightly higher gear, although the ongoing drag of the financials sector remains a concern for equity performance.

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Index / Indicator
AUSTRALIAN EQUITIES Aug-17 Aug-18 Change 1 Month Change 12 Months
ASX200 Accum 56,146.82 64,795.65 1.42% 15.40%
ASX200 Resources Accum 21,671.91 26,332.11 -4.43% 21.50%
ASX200 Industrials Accum 54,315.13 61,280.92 3.20% 12.82%
MSCI World Index 1,959.74 2,175.50 1.04% 11.01%
S&P500 (USA) 2,471.65 2,901.52 3.03% 17.39%
FTSE 100 (UK) 7,430.62 7,432.42 -4.08% 0.02%
Nikkei 225 (Japan) 19,646.24 22,865.15 1.38% 16.38%
Shanghai Composite (China) 3,360.81 2,725.25 -5.25% -18.91%
A-Dollar / US-Dollar $0.79 $0.72 -3.19% -9.49%
Trade Weighted Index 66.3 62.6 -1.42% -5.58%
Aust 90 Day Bank Bills 172.00% 194.50% -195 bps 2250 bps
Aust 10 Year Govt Bonds 271.34% 252.02% -1282 bps -1932 bps
US 10 Year Govt Bonds 211.96% 285.94% -1027 bps 7398 bps

SMSF Residency

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Strict residency rules apply to the commencement and operation of a self-managed superannuation fund (SMSF). As it is becoming more commonplace for trustees to spend extended periods of time overseas (for work or otherwise), it is important to be mindful of the steps required to ensure the fund continues to be complying.

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Frankly Speaking

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Consensus Earnings Forecasts and Inside Selling.

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This publication has been compiled by Entrust Private Wealth Management ABN 80 100 088 168 AFSL 222152 (Entrust). This publication is current as at time of preparation. Past performance is not a reliable indicator of future performance. Any outlooks in this publication are predictive in character. Whilst every effort has been taken to ensure that the assumptions on which the outlooks given in this publication are based are reasonable, the outlooks may be based on incorrect assumptions or may not take into account known or unknown risks and uncertainties. The results ultimately achieved may differ materially from our outlooks. Material contained in this publication is an overview or summary only and it should not be considered a comprehensive statement on any matter nor relied upon as such. The information and any advice in this publication do not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. This publication may contain material provided directly by third parties and is given in good faith and has been derived from sources believed to be reliable but has not been independently verified. Entrust is not responsible for such material. To the maximum extent permitted by law: (a) no guarantee, representation or warranty is given that any information or advice in this publication is complete, accurate, up-to-date or fit for any purpose; and (b) neither Entrust, nor any member of the Entrust group of companies or its authorised representatives, is in any way liable to you (including for negligence) in respect of any reliance upon such information or advice. It is important that your personal circumstances are taken into account before making any financial decision and we recommend you seek detailed and specific advice from your adviser before acting on any information or advice in this publication. Any taxation position described in this publication is general and should only be used as a guide. It does not constitute tax advice and is based on current laws and our interpretation. You should consult a registered tax agent for specific tax advice on your circumstances. More information? For further information on any issue discussed in this publication, or on any financial matter, please contact your financial adviser.
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