6/28/2022 12:00:00 AM

Mid-Year Market Update: Mike Taylor on current market conditions

In part one of our Mid-Year Market Update video series, we hear from Pie Funds CEO and Founder Mike Taylor.

In this video, Taylor shares his views on current market conditions and what specific indicators he and the investment team are looking at to show when markets may recover. 

“Really there has been nowhere to hide in stocks this year,  in fact, not just stocks. There has been nowhere to hide anywhere,” Taylor says.

“It has been really tough, and there are a lot of emotions around,” he says.

There has been “absolute carnage” in small-cap tech too.

“A lot of heat that was in the market in 2021 has gone. So the price deflation from liquidity being withdrawn, from interest rates rising, has had its effect on markets. 

“So what’s left then really is for earnings. Where earnings are going to land over the next 12-24 months is something we are really focusing on at Pie.”

So, how are our funds performing and what is Taylor’s view on global macro events?

If you have any questions or want to talk anything over, we encourage you to get in touch. Please contact your Relationship Manager or the team at [email protected] or 09 4861701.

View other videos in our Mid-Year Market Update Series:

Video 2: Guy Thornewill and Toby Woods cover finding hidden gems during global volatility

Video 3: Portfolio Manager Michael Goltsman on three key company attributes in this climate

Video 4: Portfolio Manager Mike Ross on companies and sectors we have reduced exposure to

Video 5: Head of Wealth and Client Services James Paterson covers volatility in your portfolio

Information is current as at 28 June 2022. Pie Funds Management Limited is the manager of the funds in the Pie Funds Management Scheme. Any advice is given by Pie Funds Management Limited and is general only. Our advice relates only to the specific financial products mentioned and does not account for personal circumstances or financial goals. Please see a financial adviser for tailored advice. You may have to pay product or other fees, like brokerage, if you act on any advice. As manager of the Pie Funds Management Scheme investment funds, we receive fees determined by your balance and we benefit financially if you invest in our products. We manage this conflict of interest via an internal compliance framework designed to help us meet our duties to you. For information about how we can help you, our duties and complaint process and how disputes can be resolved, or to see our product disclosure statement, please visit www.piefunds.co.nz. Please let us know if you would like a hard copy of this disclosure information. Past performance is not a reliable indicator of future returns. Returns can be negative as well as positive and returns over different periods may vary.