Author Archive for: Lukasz de Pourbaix

Entries by Lukasz de Pourbaix

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A time to reset back to ‘normal’

For the past 10 years investors have become accustomed to double digit returns from equities and low market volatility. As interest rates normalise we are heading into a different market environment characterised by higher volatility and greater dispersion in returns between stocks. For some investors the last 10 years’ market environment is all they have […]

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False dawn?

Markets were buoyed in July by data from the US suggesting that inflation may have peaked. All asset classes enjoyed strong returns and we saw a sharp rebound in segments of the market which were previously sold down on the back of inflation fears, such as the technology sector. During the month we observed a […]

The heat is on

The heat has been on with central banks around the world trying to keep inflation under control. We have seen three consecutive rate rises by the RBA, the most numerous since 2010. We have observed similar monetary policy tightening action in other jurisdictions, notably the US where the last inflation read was 8.6%. Central banks […]

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Market Update – May 2022

In this video, Lukasz de Pourbaix, Executive Director and CIO of Lonsec Investment Solutions provides an update on what’s been happening in the markets, with market volatility and inflation. Lukasz then explains what this means for the Lonsec portfolios. IMPORTANT NOTICE: This document is published by Lonsec Investment Solutions Pty Ltd ACN 608 837 583, a […]

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April 2022 – CIO Market Update and Portfolio Implications

In this video, Lukasz de Pourbaix, Executive Director and CIO of Lonsec Investment Solutions provides an update on our macroeconomic views following Lonsec’s quarterly Asset Allocation Investment Committee meeting. A key topic of discussion was inflation. The rise we’ve seen over the recent years has now been amplified by the current situation in Russia and Ukraine and […]

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The winds of change are coming

Years of accommodative monetary policy combined with ample liquidity from central banks, remnants of the global financial crisis of 2008, may be coming to a gradual end. We are arguably entering a transition period in the economic environment from one of low inflation, low interest rates backed by unconventional monetary policy (quantitative easing), to one […]

Are we in the midst of a new cold war era?

After several weeks of diplomatic tensions, over the last few days the word has watched in shock as Russia invades Ukraine. By way of background, the Ukraine was part of the former Soviet Union and gained independence from the USSR in 1991 following the gradual collapse of communism in central and eastern Europe in 1989. […]

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Market & Portfolio Update: Volatility and Market Uncertainty

Volatility and market uncertainty is increasing as markets react to news about interest rate rises. We asked Chief Investment Officer, Lukasz de Pourbaix, to give us an update on whether the current market situation has impacted Lonsec’s dynamic asset allocation views and whether any changes will be made to the Lonsec portfolios’ positions. Lukasz explains […]

Insights from our CIO: Feel the heat

August was another strong month for equity markets however some storm clouds have reappeared amidst the collapse of Evergrande, one of China’s biggest property developers, as the Chinese government sought to stem excessive borrowing leaving the heavily indebted company with over $400B in debt. The main concern is that the collapse may have a flow […]

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The challenge to diversify

The upward trajectory in equity markets has continued unabated. Markets continue to be supported by low interest rates and central bank liquidity support. The US Federal Reserve’s recent comments that that they would continue their asset purchase program and that interest rates are not expected to rise anytime soon has added fuel to markets. This […]

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