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Sydney Wealth Management Update Winter 2024
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Sydney Wealth Management Update Winter 2024

Welcome to our latest Wealth Update – Winter 2024

This edition covers the following topics:

Australian Banking sector update

With all the Big 4 banks delivering first half results for FY24, this report takes a deeper look into their performance. Despite a strong start to the year, competition and economic headwinds continue to complicate banks’ profitability, providing a mixed outlook across the board. Read on to learn more.

Reporting season update – International equities

A strong start to 2024 has continued to bolster the international portfolio, with the majority of portfolio companies outperforming market consensus. Acquisitions and cost cutting measures have been key drivers for profitability as well as burgeoning demand for artificial intelligence (AI) applications. The sustainability of demand for AI software and products remains a looming issue. Some observers are evoking the “Dot-com bubble” of the early 2000s to raise investor concerns. A chief difference, though, has been the material profits being made by technology companies that help justify share price performance to date with signs of more growth still to come in the near term. Read on to learn more.

 

 

 

 

 

Any advice included in this newsletter has been prepared without taking into account your objectives, financial situations or needs. Before acting on the advice you should consider whether it’s appropriate to you, in light of your objectives, financial situation or needs. You should also obtain a copy of and consider the Product Disclosure Statement for any financial product mentioned before making any decisions. Past performance is not a reliable indicator of future performance. Advisors at Pitcher Partner Sydney Wealth Management are authorised representatives of Pitcher Partners Sydney Wealth Management Pty Ltd, ABN 85 135 817 766, AFSL number 336950.

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