July Newsletter

It’s July, there’s a nip in the air and winter has well and truly set in, as Australia deals with COVID outbreaks across several states. But July also marks the start of the new financial year, a good time to reflect on how far we have come since this time last year and to make plans for the year ahead.

Share markets had a strong finish to the financial year, with the Australian benchmark ASX200 gaining 26.4% to the end of June – its best Financial Year since 1987. Akambo’s diversified multi-asset portfolios also delivered their best financial year returns, with the Balanced Portfolio growing 18.39% and the Growth Portfolio rising 21.58% (before fees). The Portfolios are currently skewed to companies that will perform well in an early stage inflationary environment and businesses that will benefit from the continued emergence from a COVID-afflicted environment.

The new financial year also rings in some new opportunities to boost your retirement savings. Some may require planning, such as increases in the amount you can contribute to super annually, others won’t require any effort at all, such as the increase in the Super Guarantee. In this snapshot we canvass all the changes happening from July 1 and how you can take advantage of them.

As always,  if you would like to know how these changes may affect you or how your investments have fared over the past financial year, don’t hesitate to contact our office on 03 9602 3233.

CLICK HERE to view our July newsletter.