The Latest News and Views from Ascent Wealth Management

Hi Everyone,

Welcome to the Latest News and Views, we hope the year is going well. For us there are a few short weeks until the end of financial year.

We have a new staff member Troyden that has joined the ranks as an Associate Adviser, many of you will meet him of the coming months. Troyden has just moved from another practice on the Sunshine Coast, he holds a Bachelor of Commerce majoring in Accounting & Financial Planning, a Graduate Certificate in Financial Planning and is a Justice of the Peace. he is currently studying for his Masters of Financial Planning.

In April, we had seen the Australian market really to reach 5,956 (ASX200) which was the highest price YTD, this has dropped slightly for May & June but remains steady at just above 5,600. This recent rally has been attributed from better than expected employment growth in March and a rise in inflation. Globally China has seen better than expected growth at 6.9% year on year for the March quarter, there is still a lot of uncertainty in the US markets with consumer and business sentiment declining post-election. Let’s see how the new proposed tax changes will affect the US market.

Ever thought about going global? Bloomberg talks about the opportunities that lie ahead in the global markets and how to minimise the risk. Bloomberg puts in the size of the global market in perspective when stating that Australia makes up only 2.7% of the MSCI World Index.

There are a few proposed tax changes happening in the United States, this includes lowing the corporate tax rates, tax on US domiciled country’s and the controversial boarder tax adjustment. Antares discusses these changes and how they may impact you.

As for many of you teaching your children how to fish is a great past time. Rod Smith talks about his five quick tips for fishing which can also be applied many other areas which you have helped your children grow.

Our goal is to help our clients achieve their goals whether it is refinancing a home loan or planning for retirement, we are here to help you through your journey no matter how big or small. If you feel we may be able to help a family member or friend please do not hesitate to refer them to Ascent Wealth Management.

Lastly, thanks to all that have sponsored me for the upcoming MS Brisse to the Bay bike ride. My total so far is nearly $2,000; not long to go now if you'd like to help, here's a link to the fundraising page-

All the best, please don't hesitate to call if you want to discuss any of the above.

Steve

ThreeSixty Research Market Update - May 2017

Highlights:

Equity markets rose in April helped by political developments in Europe and solid US corporate earnings reports.
In the United States, the technology-laden NASDAQ Composite Index rose to all-time highs, boosted by strong earnings results from the major technology companies.
US consumer and business sentiment surveys fell back from the recent highs reached following Donald Trump’s election win.
Chinese economic growth in the March quarter was stronger than expected and other activity indicators were also higher than in prior months.
Australian economic data was relatively good with stronger-than-expected employment growth in March and a rise in inflation.

If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly.

Read full May market update report >>