Booster: Market and Portfolio Update (November 2024)
Booster have published their latest Market and Portfolio Update, outlining recent share market movements and including a discussion on shareholders.
Some highlights:
- The Global equity market had a strong month in November.
- US markets were bolstered by the election result and the prospect of tax cuts and deregulation.
- Central banks globally continued to lower rates.
- The Reserve Bank of New Zealand continued their interest-rate cutting cycle, reducing the Official Cash Rate from 4.75% to 4.25%.
- The NZ share market didn’t move much in reaction to the cut, as it was widely expected by the market.
- Nonetheless, the NZ share market index returned a healthy +3.4% in November, bringing the year-to date return to +11.8%.
Shareholders have the opportunity to vote on who gets to sit on the board of directors. Booster take an active approach, voting against directors with a history of underperforming companies or unethical business involvements.
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