Market Insights > Slice of Pie Newsletter > Dec 2019, Issue No. 136
In this month's newsletter, Mike looks at why markets thrived despite a backdrop of slowing economic growth and political unrest.
Written by Mark Devcich, Chief Investment Officer.
Mike and Liam look forward and discuss what we can expect from markets, the global economy and the financial sector in 2020.
Consumer power and lack of alternatives push equity markets on.
December 2019 Fact Sheet
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Investing outside SIPO
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Past performance is not a guarantee of future returns. No person, including the Directors of Pie Funds Management Limited, guarantees the repayment of units in the funds or any returns of units in the funds. Returns can be negative as well as positive and returns over different periods may vary. The JUNO KiwiSaver Scheme is owned, managed and issued by Pie Funds.
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performance metrics and global updates from the investment team.
We are taking steps to try to preserve investor capital and take advantage of opportunities, arising from the severe market disruption associated with COVID-19.
To assist with buying into the current severe sell-off we have secured approval from our supervisor for a temporary exception to our Statement of Investment Policies and Objectives (SIPO), to allow us to exceed our maximum number of positions for the following funds:
We sought permission to increased position limits because we believe it will help us better serve our investors’ interests by:
The exemption is in force now. We will review the need for the exception in six months. If market conditions have returned to more normal settings, we will return within SIPO limits.