DelphiNews August 2015

I’m pleased to enclose the latest edition of DelphiNews.

Market Update

This month the Greece debt continues to be a focus for investors however it is beginning to diminish as a concern. Meanwhile, China’s Shanghai Composition Index remains volatile but its Q2 GDP of 7% met the country’s 2015 growth target.

In the United States the economic recovery continued on a positive trend, with manufacturing data slightly declining in July. Importantly, the production index was up 2%.

Over in Europe, retail sales were up sharply, with Germany being a particular stand-out.

At home, the cash rate remained on hold at 2% at the Reserve Bank of Australia’s early August meeting.

Economic Update

In the latest Economic Update, Myooran Mahalingam, Portfolio Manager at MLC, reviews events in Australian and Overseas markets during June. Myooran notes that July was a good month for investors with gains recorded by most of the world's major share markets. There were also sizeable movements in commodity markets. The most noteworthy was the 21% decline in the West Texas Intermediate Oil Price in July. Spot Gold declined 6.5%, fally for six consecutive weeks to the lowest level since March 2010.

A Quick Guide to Age Care

The aged care system can seem daunting. But by understanding what’s available, you can make sure you or your loved ones get the care they need. The article below provides an overview of Age Care.

Please contact us if you have any questions regarding your financial requirements or this month's articles.

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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