Equity markets experienced heavy declines in September, with Global Equities losing 5.2% (in US dollars) over the quarter, bringing year-to-date returns to -17.5%. For Australian investors, the 14% decline in the Australian dollar so far in 2022 has helped cushion the impact of this drawdown in global equities, in local currency terms. Australian Equities fared much better than offshore markets over the quarter (+0.4%), reflecting a lower exposure to Technology and higher exposures to Banking and Resources, as well as a cost base skewed towards Australian dollars.
The Lonsec Listed Managed Portfolios have not been immune to the market sell-off this year, particularly given the large declines in global equities and ongoing sell-off in bonds.
Dan Moradi, Portfolio Manager for Listed Products, provides an update on Lonsec’s Listed Managed portfolios, covering the latest performance, portfolio changes and how the portfolios are positioned for this inflationary environment.
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