Market Insights > Slice of Pie Newsletter > July 2020, Issue No. 143
This month Mike discusses our recovery in a post-Covid environment
Mike and Liam discuss stock market recovery as they react to easing lockdowns.
The June quarter was the best quarter in more than 20 years for the US market, following a horrid March.
The Global Growth Fund was up 1.3% in June.
The fund was up 2.9% in June. The market was in consolidation mode after large gains in April and May. The ASX small ordinaries index was up 3.5% by 10 June, before finishing the month 2.2% lower.
The fund now has about an 8% position in fixed interest, and we are looking to increase this further over the next couple of months. Exposure to the other Pie funds has continued to benefit the Conservative Fund, as all were up significantly during the quarter.
Mike discusses our recovery in a post-Covid environment.
July 2020 Fact Sheet
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Product Disclosure Statements
The JUNO KiwiSaver Scheme is owned, managed and issued by Pie Funds. Click to join below.
Past performance is not a guarantee of future returns. No person including the Director of Pie Funds Management Limited guarantees the repayment of units in the funds or any return 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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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.