The Stonehouse Core Value Portfolio (CVP) generated a return of +1.98% in June. Equity markets bounced back during the month with the MSCI World Ex Australia Index posting a gain of +5.3% and the Australian equity market +3.2%. Within the domestic equity component of the Portfolio, the best performing strategy was the exposure held through…

The Stonehouse Core Value Portfolio (CVP) generated a small negative return (-0.81%) in the month of May. This was against a backdrop of disappointing returns in global equity markets, with the MSCI World Ex Australia Index posting a loss of -4.2%. Within the domestic equity component of the Portfolio, the best performing strategy was the…

In my initial meeting with a client I regularly ask the question, “what is your biggest financial asset?”. 9 out of 10 clients will answer “my house”, or if they don’t have a house, their answer will be “my car”. I then complete a quick calculation on the whiteboard with them: current salary multiplied by…

The Stonehouse Core Value Portfolio (CVP) generated a positive return of +1.48% in April. Global equity markets continued to grind higher in April fuelled by optimism around the US/China trade dispute being resolved and a better than expected quarterly reporting season in the US. The MSCI World Ex Australia Index posted strong gains (+4.6%) while…

The Stonehouse Core Value Portfolio (CVP) generated a positive return of +0.72% for the month of March. The Australian equity market was flat for the month (+0.1%) whilst global equity markets continued to push higher with the MSCI World Ex Australia Index (+1.5% unhedged) posting gains. Within the domestic equity component of the Portfolio, the…

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With equity markets continuing to push higher, the Stonehouse Core Value Portfolio (CVP) generated a positive return (+1.90%) for the month in February. Given the Australian equity market’s strong performance (+5.3%), all domestic equity managers positively contributed led by Allan Gray Australia Equity (+6.2%) which outperformed the market return and the beta exposure held in…

After a very difficult month in December, the Stonehouse Core Value Portfolio (CVP) generated a positive return of +1.68% for January. This was assisted by strong equity markets, with both the MSCI World Ex Australia Index (+4.1%) and Australian equity market (+4.0%) bouncing back. Within the domestic equity component of the Portfolio, all managers provided…

There is a lot of attention lately around the affordability of housing and the fact that the current generation struggle to “get into the market”. The major reason most put it down to is property prices rising consistently while incomes have not followed the same trajectory over a long period of time. To illustrate, let’s…

December was a terrible month for global equities, especially the US equity market (S&P 500) which posted its worst December result since 1931. Even US tech stocks, which had previously seemed almost invulnerable, were not immune and the NASDAQ fell heavily. The MSCI World Index lost -4.1% and the Australian equity market lost -0.7%. The…

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