SUMMARY
The Fund returned -0.6% (Class A, AUD) and -0.6% (Class B, USD) in September, while the TA 125 Index returned 0%.
Global share markets continued to move lower during the month as longer-term bond yields rose upon concerns that US interest rates may increase by a further 0.25% from the current range of 5.25% – 5.50%. The US Federal Reserve also indicated that interest rates would fall much more slowly in 2024 and 2025 than investors had expected.
Despite similar sentiment in Israel, the local equity market outperformed global shares, finishing the month unchanged from the opening level.