Key Points: • Despite some green shoots late last year, the Australian economy has again turned a corner for the worse, with inflation too high and the RBA again raising rates as a result. • We think excessive government spending, lack of economic reform and too much regulation are key drivers of this outcome. • The recently released budget does little to solve this malaise and therefore we are happy to remain underweight Australian equities in a rising interest rate and sogg

Market Update | They Took Our Jobs! Key Points: There has been significant commentary on whether AI will replace white-collar workers en masse; Current AI architectures lack the organisational memory and judgement of a human worker. Models would need to change considerably to achieve this outcome; Even if the models do improve to achieve this, we think a more likely outcome will be increased production and productivity. Firms compete with each other and those that replace he

Market Update | Iran war update Key Points: The war in Iran continues, with equity markets grinding a little lower and oil prices a little higher in the three weeks since our last update. There have been some positive developments on the supply side, with some tanker traffic being permitted to cross the Strait of Hormuz and a ramp-up in Saudi Arabia’s East-West oil pipeline. Asian economies remain the most exposed to higher energy prices and supply shortages, with the US eco

On 28 February 2026, Israel and the United States launched a coordinated military operation against Iran, codenamed Operation Epic Fury. The strikes targeted Iran’s leadership, nuclear programme, missile sites, military facilities and regime infrastructure. On 1 March, Iranian state media confirmed that Supreme Leader Ayatollah Ali Khamenei had been killed in the strikes, along with his daughter, son-in-law, grandson, and senior IRGC commanders. Iran responded aggressively, l

Key Points: • AI adoption is accelerating and for good reason, it has gotten a lot better over the past two years. • We think prospects...

Key Points: Global birth rates are declining toward below-replacement levels, with advanced economies already experiencing working-age...

On May 14, 2024, Treasurer Jim Chalmers unveiled the Federal Government’s 2024-25 Budget, a comprehensive plan to alleviate the cost of...

With the Year of the Dragon underway, it's a timely moment to focus on practical financial planning. Here's a concise guide to help you...