SUMMARY
The third quarter of 2020 kept investors on the edge of their seats. By the end of August, the S&P500 delivered its strongest five-month return since 1938, shortly followed in September with the fastest technical correction sell-off of the NASDAQ in history.
In addition, of significance to Australian investors, the Australian dollar rallied from an intra-day low of 55.1 cents (March low) to approximately 72 cents to the USD which translates to an appreciation of over 30%.
Despite the intra-quarter volatility, the final outcome was a repeat of most quarters over the prior five years.
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We are pleased to include below a recent investment update with Fund Manager Jordan Cvetanovski.