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Quarterly Investment Update from the AAN Asset Management Investment Committee – Q4 2023

Contrasting predictions about recession or expansion, inflation or deflation, and the direction of interest rates continues.  With this in mind, markets are likely to remain unpredictable. Liquidity is very important in this environment, providing easy access to funds and the ability to seize new opportunities, should they arise.

Central banks remain firm against inflation. However, with inflation above central bank comfort zones, this is expected to keep rates higher-for-longer and dampen the current market expectations for an early start to a developed market easing.

The market shows glimmers of optimism and equity markets maintain an optimistic stance, hoping for rate cuts to prevent an economic downturn. Notably, earnings growth and balance sheet strength will remain a key focus and geopolitical risks continue to weigh heavily on the outlook for stocks.

Looking ahead, bottom-up research and consistent engagement will be crucial in identifying the best opportunities.

News

Some very good news for our AAN Asset Management model users

In our May update we discussed some changes to underlying models. While making those changes we had to opportunity to discuss rate cards with new managers and our incumbents, especially given the growth in the holdings in our AAN Core And AAN Growth options.

Key considerations in the creation of the models have always been best of breed holdings and cost reductions through scale.  We use our proprietary ‘Four Pillars’ philosophy when structuring portfolios and then negotiate favourable terms with the successful solutions.

As a product of building scale we can now announce model fee reductions in three of our models including our two largest.

News

QUARTERLY INVESTMENT UPDATE FROM THE AAN INVESTMENT COMMITTEE – Q3 2023

Central bank’s aggressive approach to combating inflation, characterised by significant rate hikes, did not stall the economy as anticipated by the markets. The market’s eagerness for a slowdown has been overtaken by its desire for expansionary monetary policy.

Despite signs that the central banks remain firm against inflation, equity markets maintained an optimistic stance, hoping for rate cuts to prevent an economic downturn. The recent earnings season showed positive results, but forward guidance from companies remained uncertain, hinting at potential economic slowdown concerns.

News

QUARTERLY INVESTMENT UPDATE FROM THE AAN INVESTMENT COMMITTEE – Q1 2023

After a challenging year in 2022, diversified portfolios experienced favourable returns. Despite ongoing uncertainty and further tightening from central banks, risk asset markets across the world saw substantial positive returns during the first quarter of 2023.

The major catalyst for volatility over the quarter stemmed from the banking sector, with the collapse of Silicon Valley Bank and Signature Bank in the US. Credit Suisse in Europe also collapsed, though this followed years of scandals, losses, and changes to the management team.

The material change to select portfolios this quarter was the addition of the Perpetual Focus Australian Share Fund to the Core, Growth, and Australian models. Other changes were limited to adjustments to benchmark allocations.

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Shifting to a managed accounts business mindset

Praemium’s Chief Distribution Officer Martin Morris talks to Paul Forbes, CEO of the Australian Advice Network and RFS Advice about the journey to becoming a Managed Accounts focused advice firm. Martin and Paul talk about building a client value proposition, introducing clients to managed accounts, selecting models, business efficiencies and choosing the right technology partner. It’s a fascinating insight into a successful advice practice.

Praemium Podcasts – Shifting to a managed accounts business mindset
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Investor Letter

Dear Investor

2021 presented a year of ups and downs for most of us. The ups included a strong start for the Australian economy and markets, with Australia’s strong quarantine system buffering us from a new highly contagious Covid-19 variant labelled Delta.

News

A watched pot never boils

Slightly out of context but the quote points to watching something continually, can make it feel like it is never going to happen – in this case boil.
Investment markets can feel the same way.
The answer to the question, ‘is a correction coming?’ is ‘ALWAYS’.

News

Investor Letter

Over the last 40 years interest rates have largely been on a downward trajectory as governments separated central banks from political influence, and refocused them on broader objectives linked to employment, inflation, and currency stability.

News

The AAN Investment Committee working behind the scenes

In our recent blogs we mentioned the AAN Investment Committee had been very active through this recent downturn. 

This sort of event can provide an opportunity and the attached information will give you a fuller explanation of the restructuring and repositioning that occurred towards the end and during the re-weight of the March Quarter. 

This is for your information only and is a little technical, however we hope it provides a deeper understanding of the work that is going on behind the scenes.

News

ETFs Coming of Age

In today’s world, it seems there is nothing more difficult to achieve than consensus. With almost every topic a matter for partisan debate, asking a group of people to respond to a common piece of stimulus will typically result in a range of reactions, no matter how straightforward that stimulus might appear.

Put it to a group of Australians that the sky is blue and you’re almost guaranteed to be faced with a diversity of views.

News

Life after the Election

This week at AAN, we were fully expecting a Labor party led by Bill Shorten to be heading to the lodge and their agenda to start being factored into our strategies…

The concern was always that the ALP had already flagged a mini budget in September, which would have meant at least another four months of uncertainty and then looking at the impacts of the changes they were going to introduce.

News

IMPORTANT UPDATE: AAN Asset Management

AAN Asset Management (AANAM), the investment advice subsidiary of Australian Advice Network Pty Ltd, has grown rapidly since its introduction in January 2016.  The AAN Models now manage almost $400Million.

The existing investment committee, made up of senior practioners and directors within the license, has always sourced input from external advisers however; these advisers did not have designated roles or voting rights.

News

What does the Hayne Royal Commission mean to you?

With a great deal of anticipation and no small amount of speculation, Commissioner Hayne has released his findings and recommendations from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.  

He has made 76 recommendations and other than one contentious point in regards to mortgage broking and upfront commissions, both of the major parties have said they will accept and implement them.

News

Vanguard talks working with AAN

AAN Asset Management and its investment committee work closely with managers such as Vanguard (See Video) who have a proven track record in achieving index returns and delivering cost reductions to clients. Utilising  Vanguard with active managers allows us to provide very competitively priced solutions without sacrificing return.

News

Best New Licensee

“This award recognises the financial planning Licensee that has created the most effective business from the start-up phase.  Based on business growth metrics and the support of individual advisers, the award considers the activities, strategies and actions of the group in terms of adviser recruitment and retention, as well as the success of individual advisers in supporting the group’s overall growth and development”

News

Summary of Super positions post-election from the FPA

We now have an election result which in normal circumstances would mean we have a clearer understanding of the policy direction over the next few years.  This result, however, means there will be a lot of negotiation before we see the final position on issues such as the controversial superannuation changes proposed by the Government during the May budget.

News

AAN Launches

The Australian Advice Network has successfully applied for and received approval from ASIC to begin providing financial services in Australia. This day commemorates the commencement of a fresh new Financial Services Licence based around exciting client centric advice. All involved parties that have been working towards this day are very excited about the future of the group.

Get In Touch

If you have any questions or you would like to speak with one of our Advisers, get in touch with us and we will get back to you as soon as possible.

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