DelphiNews June 2014

I’m pleased to enclose the June 2014 edition of Market Update.

We’ve continued to see a stabilisation in growth across the US and China, while the Asian region’s Q1 GDP results were mixed.

The recent deceleration in US growth is not a surprise, after the harsh winter. On a positive note, the US saw the labour market continue to improve, with April reporting a large fall in the unemployment rate as well as improvements with other labour market indicators.

In Europe, the Purchasing Managers’ Index data shows the Eurozone is continuing to grow in 2014, after Q4 2013 GDP increased 0.3% from 0.1% in Q3 2013.

Over in China, production levels have risen slightly above the recent lows in February. However, output remains comparatively soft. NAB forecasts for Chinese economic growth are unchanged at 7.3% in 2014.

Back at home, consumer sentiment has plummeted in response to the Federal Government 13 May Budget, and there are a number of likely implications for businesses. According to NAB, cutting the company tax rate from 30% to 28.5% will benefit a considerable number of businesses.

Economic Update

In the Economic Update, Brian Parker, Senior Investment Consultant at MLC Investment Management, reviews events in Australian and Overseas markets during May. Brian states that the Australian share market produced a reasonable return. However, the market did lag Global markets, especially as the price of iron ore fell substantially.

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In this five part video series, Moshe Milevsky outlines the key risks that could affect your retirement plans and offers some smart strategies to address them.

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Moshe Milevsky is an Associate Professor in Finance at the Schulich School of Business at York University, Canada. A world-renowned expert on quantitative wealth management for individuals, he is the author of several highly regarded books on the subject. He has also delivered over 1000 seminars and keynote presentations on wealth management and retirement planning.

If you have any questions regarding Professor Milesky's Presentations or the other information contained in this edition of DelphiNews or if you or a family member would like to review your current investment strategy please contact us.

Regards

Vince Dore CFP
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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