Growth 1.6352 Conservative 1.3671 |
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Funds under Management as at 28 February 2019: $1.131 billion |
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In other news Median KiwiSaver balances rose 62% over three yearsPositive Changes to KiwiSaver coming up |
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Your online account Remember you can see your balance, transactions, holdings and returns on your savings via your Generate KiwiSaver Scheme online account. To access it click on “Member Login” at the top of our home page. Should you need to reset your log-in details please click on “Forgot your password” and follow the simple instructions. |
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Contact Us If you have any questions after reading your newsletter, give us a call on 0800 855 322 or email us at info@generatekiwisaver.co.nz and we would be more than happy to help.We thank you for your support. The Generate Team |
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Disclaimer The Generate KiwiSaver Scheme Member Newsletter has been prepared by Generate Investment Management Limited. It is based on information believed to be accurate and reliable although no guarantee can be given that this is the case. Clients, directors or employees of Generate Investment Management Limited may have an interest or holding in companies and securities mentioned in the newsletter. No part of the newsletter is intended as financial advice. For more information about the Scheme please refer to the Generate KiwiSaver Scheme Product Disclosure Statement. |
Welcome to the March edition of the Generate KiwiSaver Scheme Newsletter.
In other news the recently released Workplace Savings NZ report revealed that Generate has been the fastest (%) growing KiwiSaver Scheme in their league tables, by funds under management, in each of the last 11 quarters. • Growth Fund • Conservative Fund • KiwiSaver is all I am interested in thanks |
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Performance of Our FundsReturns to 28 February 2019 (after fees* and before tax).
**the funds opened on 16 April 2013 Note: Past performance is not necessarily an indicator of future performance. |
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In February share markets around the world built on the strong gains enjoyed in January. Hopes of a resolution of the trade conflict between the US and China increased as positive noises came from both camps during a string of meetings. Fading fears of a global recession in 2019 added a further tail-wind. The good news kept on coming with Trump making it clear he was getting closer to accepting a border spending deal which would avert another government shutdown.
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Recap of market movements in FebruaryGlobal share markets had another strong month in February with the MSCI World Index returning 3.5% (in local currencies).US shares notched up another positive month (for the aforementioned reasons) with the S&P 500 returning 3.2%. Information Technology was the sector that benefited the most from the “risk on” environment. Eurozone equities also contributed to the solid performance of global share markets. The Bloomberg European 500 Index was up 4.2%. Political developments continued to dominate the headlines as we count down the days to Britain’s scheduled exit date (29 March) from the European Union. However, positive trade and economic developments outweighed investor angst over the Brexit debacle. |
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Warren Buffett wisdomsAfter 50 years at the helm of Berkshire Hathaway (which is currently one of the largest growth investments for all three of our funds), Warren Buffett has become widely regarded as one of the world’s greatest investors. In his annual letters to shareholders, and in various interviews he has given, he has shared many of the lessons he has learned during his career. This month: |
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Investing 101Active versus passive |
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Top Holdings as of 28 February 2019Please log in to your account to see your full portfolio breakdown.
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Stock SpotlightPrecinct PropertyPrecinct is New Zealand’s largest owner, developer and manager of premium CBD office space in Auckland and Wellington. The company listed on the New Zealand Stock Exchange in 1997, initially owning just six properties. Today, Precinct owns 14 properties with a portfolio valuation of approximately $2.5 billion. Although Precinct’s primary focus is office buildings, in recent times it has broadened its mix of real estate by investing in inner city retail, leisure (hotels) and 100% ownership of Generator, the shared office space provider. The company has stepped up its development capabilities in recent years and is currently undertaking the substantial Commercial Bay project in downtown Auckland. The precinct will bring together the largest concentration of high quality retail and food and beverage in the city, a luxury hotel and office tower. Fortunately for Precinct it locked in the vast majority of costs for this project and the significant over-runs have had to be borne by the construction team – Fletcher Building. The other significant developments that Precinct has underway are the Wynyard Quarter and Bowen Campus (in Wellington) projects. In February the company announced a $150m capital raising in order to pay back bank debt and provide additional capacity to deliver on medium term development opportunities. Generate’s funds participated in this placement of shares. Next month: Apple Inc. |
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