Global Global markets continued to prove resilient during FY26, with global shares and infrastructure assets posting another year of double-digit returns. Markets faced a number of challenges during the year, not the least being the Iran war and surging oil prices, coupled with generally rising inflation. But subsequent efforts to seek a resolution to the Iran conflict has seen oil prices retreat and the technology theme reassert itself. In addition, the US Federal Reserve (the Fed) has...

Global wrap March quarter saw increased volatility with interest rates rising and growth assets undergoing a moderate correction. There were actually a few events that led to the increased volatility including: 1) a derating in software stocks (related to AI); 2) a run on private equity and credit funds (related to the software derating); and 3) US/Israeli strikes on Iran that led to retaliatory strikes in the region and restrictions on shipping flows through the Strait of Hormuz. With up to...

Australian Shares Australian shares produced a reasonable return of 10.3% but it wasn’t all smooth sailing with a major correction in March/April that led to a 16% drawdown in the market. The market correction was related to worries over US tariffs, which were subsequently delayed or toned down. The market soon recovered, boosted by an RBA easing cycle and a recovery in commodities. Materials staged a major recovery in the second half of 2025 to be the best performing sector for the year with...