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20 Oct 2025 - Performance Report: ASCF High Yield Fund
[Current Manager Report if available]
20 Oct 2025 - New Funds on Fundmonitors.com
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New Funds on FundMonitors.com |
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Below are some of the funds we've recently added to our database. Follow the links to view each fund's profile, where you'll have access to their offer documents, monthly reports, historical returns, performance analytics, rankings, research, platform availability, and news & insights. |
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| MA Prime Logistics Fund | ||||||||||||||||||||||
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| Wingate Investment Partners Trust No. 3 | ||||||||||||||||||||||
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Wingate Property Senior Debt Holding Fund |
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| Global X Physical Gold Structured (GOLD) | ||||||||||||||||||||||
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17 Oct 2025 - Hedge Clippings |17 October 2025
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Hedge Clippings | 17 October 2025 A Week Jim Chalmers Would Rather Forget It started with a backflip that was as inevitable as it was overdue. The Treasurer finally dropped the proposed plan to tax unrealised capital gains in superannuation balances over $3 million (although the amount is irrelevant, it was the concept that was the problem) -- an idea that had baffled economists, infuriated fund managers, and confused just about everyone else. Even among Labor's supporters, the policy looked tone-deaf. The notion that retirees and super funds could be taxed on paper profits, particularly in volatile markets, was always destined for the scrapheap. In the end, Chalmers bowed to a combination of political reality, a nudge from Paul Keating (never one to stay silent on superannuation), and what insiders describe as a not-so-gentle push from Prime Minister Anthony Albanese himself. The retreat was wrapped in the usual political spin -- "consultation," "refinement," "listening to stakeholders" -- but it was, quite simply, a climbdown from an idea that never should have seen daylight. Unfortunately for the Treasurer, the week didn't get any easier from there. During a "fireside chat" in New York, RBA Governor Michelle Bullock followed up with a blunt reminder that Australia's fiscal trajectory is unsustainable. Government spending, she warned, is growing faster than national income. The RBA, already worried about sticky inflation, coupled with falling productivity, now faces the added complication of a budget that's not pulling in the same direction. Bullock's comments were unusually pointed, suggesting rising concern inside Martin Place that fiscal policy and monetary policy are working at cross-purposes. And then came the kicker: fears that inflation is still running hotter than the RBA expected, her tone suggesting that the RBA might be preparing the public for the possibility that rates will stay higher for longer -- something neither homeowners nor the Treasurer will want to hear even if we are still two and a half years away from the next election. Whether Bullock's concerns are confirmed or not will be known on October 29th, when the ABS releases both monthly and quarterly inflation numbers for September. The June quarter annualised number was an encouraging 2.1%, but August's monthly figure (admittedly only partial) was a worrying 3.0%. If that trend continues, the central bank won't be loosening the reins on Melbourne Cup Day, so for anyone backing a rate cut, that might look like a long shot indeed. They might be encouraged by yesterday's September unemployment rate, which rose to 4.5%, the highest since November 2021. Although still historically tight, it's a signal that the labour market, one of the last bastions of strength in the post-pandemic recovery, may be beginning to soften. Ordinarily, a rise in unemployment might nudge the RBA toward cutting rates to prevent a sharper slowdown -- but if inflation is still above target (or even worse, rising) and with government spending still climbing, the central bank's hands will be tied. It's a classic economic tug-of-war: growth is faltering, inflation is lingering or rising, and the government's fiscal stance isn't helping either side win. For Chalmers, the optics are rough. After months of claiming Australia's economy is resilient and well-managed, the data is beginning to tell a different story -- one of slowing growth, weakening labour demand, and persistent cost-of-living pressures. The Treasurer can take small comfort in the fact that Australia is hardly alone in facing these challenges, but politically, that won't count. He's lucky the opposition is such a mess. However, in a single week, Albo has forced him to back down on a politically toxic policy, he's fended off criticism from Keating, the architect of superannuation, and listened to the central bank warn that his budget settings could be fuelling inflation. Add a rising unemployment rate to the mix, and it's no surprise Chalmers might be wishing for a quiet weekend -- perhaps one spent far from the Canberra bubble. Unfortunately, in the current environment, there's no such thing as a quiet week in economic policy. News | Insights New Funds on FundMonitors.com Quarterly State of Trend report - Q3 2025 | East Coast Capital Management 10k Words | October 2025 | Equitable Investors Investment Perspectives: Data Centres - An update is required | Quay Global Investors September 2025 Performance News Bennelong Concentrated Australian Equities Fund Argonaut Natural Resources Fund Glenmore Australian Equities Fund |
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17 Oct 2025 - Quarterly State of Trend report - Q3 2025
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Quarterly State of Trend report - Q3 2025 East Coast Capital Management October 2025 3-minute read In this update, we present the quarterly State of Trend report for Q3, 2025. Our report covers the performance of Trend Following systems compared with traditional investments such as the S&P/ASX 200 Total Return index, and the Australia "60/40" portfolio. Trend Following provides exposure to a diverse pool of underlying instruments, and implements trading strategies systematically and without emotional biases. Tariff turmoil impacts global markets In Q3 2025, markets remained turbulent as inflation pressures, shifting rate expectations and ongoing geopolitical friction shaped sentiment. Trend following systems have rebounded from drawdown, benefitting from sustained moves in precious metals, cattle, and technology-linked equity indices, significantly outperforming the ASX200 and 60/40 portfolio. Key market movements in Q3 2025
Featured chart - Platinum
See the full report at our website. Funds operated by this manager: |
17 Oct 2025 - Performance Report: DS Capital Growth Fund
[Current Manager Report if available]
16 Oct 2025 - Performance Report: Airlie Australian Share Fund
[Current Manager Report if available]
16 Oct 2025 - Performance Report: 4D Global Infrastructure Fund (Unhedged)
[Current Manager Report if available]
16 Oct 2025 - Australian economic view - October 2025
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Australian economic view - October 2025 Janus Henderson Investors October 2025 (Originally published by Janus Henderson Investors on 1 October 2025) Emma Lawson, Fixed Interest Strategist - Macroeconomics in the Janus Henderson Australian Fixed Interest team, provides her Australian economic analysis and market outlook. Market reviewAustralian bond markets saw a repricing of the Reserve Bank of Australia (RBA) in September. The Australian bond market, as measured by the Bloomberg AusBond Composite 0+ Yr Index, rose 0.1%. The RBA maintained the cash rate at 3.60%, as was expected. Three-month bank bills were steady at 3.58% by month end. Six-month bank bill yields rose 9 basis points (bps) to 3.66%. Australia's three-year government bond yields ended the month 15bps higher, at 3.55%, while 10-year government bond yields were 2bp higher at 4.30%. While global ructions continued in the background, it was the local data that drove the big moves in local yields. Second quarter GDP was a touch higher than expected, with a pick-up in household consumption. There are continued concerns around the transition between a softer public sector and a better off household sector, so better than expected spending news was welcome. That transition isn't entirely guaranteed, with employment growth dropping again. Although, with the unemployment rate steady, through lower participation, the RBA is less concerned about a softening labour market. The inflation side of the RBA's mandate captured more attention, with the volatile monthly series precipitating renewed inflation concerns. The headline series was higher than expected, at 3%yoy, returning to the top of the RBA's target band. In the details, market services, strongly related to the labour market, was higher and led to the RBA's heightened inflation awareness in their recent press conference. This cloudy picture has the RBA returning to a highly data dependent stance. The global backdrop shows a slowing US economy, countered by the renewed Federal Reserve easing cycle. The Chinese economy remains lacklustre, while global trade continues to be uncertain. High government debt levels remain a concern for bond markets in the UK, parts of Europe and Japan. Market outlookRenewed inflation concerns have seen a repricing of the RBA's expected path higher, with a low in the cash rate at 3.30% in August 2026. This is higher than our base case for the RBA to ease a further 75bps to 2.85%. Our low case reflects a weaker economic outcome and the RBA easing by a total of 250bps. We allocate a modest weight to the low case. We hold a small, long duration position to take advantage of some of the lift in yields, while we remain vigilant through the volatility to take advantage of two-way mispricing. Monthly focus - Global trade still to play outThe US implemented decades high and comprehensive tariffs across the globe throughout the last six months. The global economy has absorbed these thus far, seemingly defying initial concerns. There are increasing signs of a slowing in global trade and adjustments in existing trade relationships. We expect the transition to a new set of trading relationships to slowly continue. Australia's direct tariffs from the US are at the low end of the range, at 10%, and our trade with the US is a small proportion of total trade. As such, the direct impacts from the US' policy were always expected to be limited. Concerns centre on the indirect impact of trade with our largest trading partners including China, Japan, South Korea, Taiwan and India. Thus far, all is well. Australian exports are tracking comfortably. Goods exports have been solid, while services recover from Covid era weakness. However, there are signs that global policies have not yet been fully absorbed by the global economy, and the time to relax, considering these fundamental changes, has not yet arrived. Australian exports are a function of broad global economic growth. The stop-start and uncertain nature of the global tariff implementation has pushed back the expected impact they will have on global economic growth, but not fully eliminated it. The tariff pressure has now started to build, and we see global demand levels easing off. China's GDP is slowing, due to tariff impacts but also domestic factors, and demand for iron ore and coal are slowing along with it. Nominal trade values have picked up as prices have improved, but volumes are lower. This bodes poorly for the future as demand is easing at the point where global competing sources of iron ore are about to rise. One bright export light is non-monetary gold. Gold exports have risen sharply, along with the rise in prices, to make it a major export good, besting coal. Rural goods are also holding well. Services exports have partially recovered from their pandemic slump. Net personal travel remains soft, albeit off its recent lows. Education services exports lifted to above pre-pandemic highs but have now stalled. Changing global education demand and regulation have tempered additional growth. A loosening of domestic policy and reinvigoration of Chinese and Indian student demand are required to elicit a resumption of higher growth from current levels.
Global patterns are showing signs of slowing goods exports, particularly to the US. China, for example, has seen a sharp slowing of exports to the US, but a concomitant pick-up in exports to its Asian neighbours. The sustainability of these redirected flows may be challenged if found to be re-exports and thus attracting even higher tariff rates. For now, the flows are in flux, and yet to find a new equilibrium. History tells us that higher tariff rates will always reduce trade volumes, and in turn global growth. What we have learnt this time, is that the process can take significantly longer to flow through due to the uncertain and inconsistent nature of the implementation. It would be premature to ignore the historical experience of poorer macro-outcomes in the face of higher trade restrictions. We anticipate an easing in iron ore exports over the coming year, and a generalised moderation in broad export growth, based on lower global economic activity. As domestic consumption improves, and the stated defence spending increase is delivered, import growth is expected to rise. As a result, we forecast a deterioration in Australia's net trade position, which will be a net detractor for GDP through 2026 and into 2027. |
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Funds operated by this manager: Janus Henderson Australian Fixed Interest Fund , Janus Henderson Conservative Fixed Interest Fund , Janus Henderson Diversified Credit Fund , Janus Henderson Global Natural Resources Fund , Janus Henderson Tactical Income Fund , Janus Henderson Australian Fixed Interest Fund - Institutional , Janus Henderson Conservative Fixed Interest Fund - Institutional , Janus Henderson Cash Fund - Institutional , Janus Henderson Global Multi-Strategy Fund , Janus Henderson Global Sustainable Equity Fund , Janus Henderson Sustainable Credit Fund Disclaimer: This article reflects the views of the author(s) at the date of publication and does not necessarily represent those of FundMonitors.com. It is provided for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Market data, views, and forward-looking statements were current as at 1 October 2025 and may change without notice. Past performance is not indicative of future results. Readers should consider their own objectives and obtain professional advice before making investment decisions. All opinions and estimates in this information are subject to change without notice and are the views of the author at the time of publication. Janus Henderson is not under any obligation to update this information to the extent that it is or becomes out of date or incorrect. The information herein shall not in any way constitute advice or an invitation to invest. It is solely for information purposes and subject to change without notice. This information does not purport to be a comprehensive statement or description of any markets or securities referred to within. Any references to individual securities do not constitute a securities recommendation. Past performance is not indicative of future performance. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Whilst Janus Henderson believe that the information is correct at the date of publication, no warranty or representation is given to this effect and no responsibility can be accepted by Janus Henderson to any end users for any action taken on the basis of this information. |
15 Oct 2025 - Performance Report: Glenmore Australian Equities Fund
[Current Manager Report if available]
15 Oct 2025 - Performance Report: Argonaut Natural Resources Fund
[Current Manager Report if available]
