SUMMARY
The Australian stock market continued to rally in June, albeit at a slower rate of 2.4%. In comparison, the fund returned 1.2%1. The last three months has seen a dramatic rally from the even-more-dramatic sell-off seen in February and March. For the three months to 30-Jun-20 the fund has returned 19.1%1, compared to the broader market’s return of 16.8%.
The question now is ‘where to from here?’.
Of course, the answer is unknowable before the fact, especially in the short term, and we will not try to make such a forecast. However, we do admit to being broadly positive in the medium-term outlook as highlighted in the full commentary below.