DelphiNews December 2012

Welcome to the final edition of Delphi Financial Management's newsletter for 2012.

I’m pleased to enclose the December 2012 edition of Market Update.

Last month overall global economic growth was sluggish. Western European and Japan’s economies continued to slow, while Emerging markets drove most of the expansion.

In Europe, the European Union committed to supporting the Spanish banking system with €37 billion in funding. Meanwhile, Spanish retail sales continued to struggle, with volumes down 9.7% year on year to October.

In domestic news, on Tuesday 4 December the RBA cut the official cash rate for the fourth time this year. The rate, which started the year at 4.25%, is now at 3.00%; equal to the lowest level seen during the GFC.

World share markets are currently on track to deliver double-digit returns for the year, which seems remarkable when you consider how dire much of the economic news was during the last 12 months. Brian Parker, Investment Strategist with MLC Investment Management comments on "The Year in Review" below.

Finally, when did you last rethink your super investment strategy? With most funds offering dozens or even hundreds of different investment options, it’s worth taking the time to make sure you’re still in the best choice, especially as retirement comes closer.

If you would like to review your investment strategy or discuss any of these articles please contact us.

Regards

Vince Dore

Director

Vince Dore and Delphi Financial Management Pty. Ltd are Authorised Representatives of GWM Adviser Services Limited ABN 96 002 071 749, trading as Garvan Financial Planning/MLC Financial Planning an Australian Financial Services Licensee, Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia group of companies.

This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax and/or legal advice prior to acting on this information. The material contained in this newsletter is based on information received in good faith from sources within the market, and on our understanding of legislation and Government press releases at the date of publication, which are believed to be reliable and accurate. Opinions constitute our judgement at the time of issue and are subject to change. Neither, the Licensee or any of the National Australia group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this email.

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