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On this episode of The nestegg Podcast, the CEO of Industry Super Australia, Bernie Dean, shares his insights into the impact of COVID-19 on super funds.

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Bernie joins host Grace Ormsby to unpack how the economic downturn has been affecting different demographics, why many in the older age bracket are experiencing increased levels of anxiety, and what those people can do to preserve their nest egg and minimise their losses.

Bernie also delves into Industry Super Australia’s stance towards accessing superannuation early as part of the government’s stimulus measures, whether now is a good time for people with the means to contribute extra to their super, and industry fund plans for a road to recovery for both their members and the national economy.

Thanks Bernie, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Industry Super Australia are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-06-03 02:51:45" ["slug"]=> string(55) "15221:the-state-of-super-in-the-wake-of-the-coronavirus" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(68) "/resources/podcast/the-state-of-super-in-the-wake-of-the-coronavirus" ["image"]=> string(35) "images/podcasts/Bernie_Dean_WEB.jpg" ["image_alt"]=> string(11) "Bernie Dean" } }

Friday, 05 June 2020

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Investors refuse to gamble on Trump

By Jack Derwin · January 18 2017

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Invest

Investors refuse to gamble on Trump

By Jack Derwin
January 18 2017

Reading:

Investors refuse to gamble on Trump

By Jack Derwin · January 18 2017

Reading:

With President-elect Donald Trump keeping his cards close to his chest, many investors are biding their time to see how markets will react to his Friday inauguration and subsequent policy announcements, according to one fund manager.

Instreet managing director George Lucas says while Mr Trump’s recent media conference was largely empty of policy, it signalled his unpredictability.

“The only real impact his speech had was on the pharmaceutical industry, when he came down hard on the sector and triggered big losses for healthcare and biotech stocks,” Mr Lucas said.

After Mr Trump suggested that his administration would slash the amount the government would pay for pharmaceuticals, some biotech ETFs plummeted as much as 4 per cent.

Such unpredictability, coupled with what his election did to global stock markets, has seen investors become wary of making any moves before 20 January.

“Once the inauguration is out of the way, these promises could help the markets return to the upward trajectory that they started in November last year,” Mr Lucas said.

“This will likely be led by growth-focused assets and, if approved, Trump’s tax-cut policies that could give many US companies a 20 per cent earnings growth boost (after tax) if passed.”

Investor inaction has also caused the US dollar to plateau following its recent drive upwards, although that is likely to only be momentary.

“Once the inauguration is over, we expect the USD to continue its recent rally as the divergence of the US economy from Europe and Japan will drive the greenback’s strength,” Mr Lucas said.

“In Australia, our dollar is less driven by the interest differential and more by investor appetite for risk, commodity prices, China’s growth and our own growth. The AUD should hold up well in the current environment of improving commodity prices and China.”

Meanwhile, while policy detail and shape remain unknown, AllianceBernstein’s US economist Joseph Carson said investors can make some fair assumptions.

“It’s a relatively safe bet that the growth rate of government spending will be faster over the near term [and] it’s the rate of change in nominal government spending that’s critical in assessing the outlook for economic growth, inflation and interest rates,” Mr Carson said.

In short, while many are predicting an inflationary period to follow Friday’s inauguration, accelerated US economic growth and a positive business environment, Mr Carson said a Trump administration will prove a distinctive break from recent policy.

“It’s going to be a new approach and a different ride.”