Harbour Asset Management

Recently, some of the Harbour team have been on the road, attending an incredible lineup of conferences and connecting with clients and industry leaders. From engaging panel discussions to thought-provoking sessions, we've gained valuable insights on the future of investment management and trends shaping our industry. Swipe through the photos to see some of our highlights. Select Wealth Management Summit 2024, Responsible Investment Association Australasia (RIAA) Conference 2024, Financial Services Council New Zealand (FSC24) Conference and Consilium Partner Conference 2024

Following last month’s Reserve Bank of New Zealand (RBNZ) rate cut, financial markets have moved to price an accelerated easing cycle, inconsistent with the central bank’s latest OCR forecast and largely driven by lower US rates. In this Navigator, our team provide insight into the likelihood of the RBNZ accelerating easing. Read more: https://lnkd.in/g_Y3iQqD

The RBNZ has started its easing cycle in the face of a rapid economic slowdown. While confidence has bounced in response to lower interest rates, activity and labour market outcomes are likely to get worse before they get better, given the long and variable lags with which monetary policy works and that interest rates remain restrictive. This may encourage a faster easing cycle than the RBNZ currently forecasts. Fixed Income and Currency Strategist, Hamish Pepper discusses Harbour's market outlook and the quarterly growth earnings expectations for September. https://lnkd.in/gAvzANaN

Last week Andrew Bascand spoke at the INFINZ Emerging Leaders evening in Wellington. It was inspiring to engage with such a confident and driven group of future leaders already making an impact in the industry. We’re proud to support initiatives that nurture the next generation of financial professionals. A big thank you to the team at INFINZ for organizing this event and guest speakers Mark Clare (Managing Partner, Clare Capital), Sarah DeSourdy Hastings (Senior Associate, Russell McVeagh) and Simone Robbers (Assistant Governor/GM Strategy, Governance and Sustainability, Reserve Bank of New Zealand).

An insufficient supply of energy has been a looming issue recently, but spiking costs over the past two weeks have led to growing concerns for businesses. Andrew Bascand (Managing Director, Portfolio Manager) at Harbour Asset Management joins Tim Beveridge on The Weekend Collective to discuss how we got here and when it may begin to improve. https://lnkd.in/gnniE_dd

As we sit down to write our Top 10 Risks and Opportunities each year, we write it not so much as a forecast for the next 12 months, but rather as a reflection of where we are and what that can potentially tell us about where we are going. Because one unmistakable part of investment research and asset management is that the starting point matters. In dynamic markets, where price movements can be swift (just look at Japan recently), the starting point can change rapidly and it’s that change which has prompted us to reflect on where the balance of risks are skewed to for the rest of 2024. Read 'Top 10 risks and opportunities for 2024- A mid year reflection' to see the 6 risks and opportunities which we are most focussed on for the second half of 2024. https://lnkd.in/g4m_rjQs

Market volatility has been in the news this week, as global equity markets have faced about a 5% decline since mid-July due to a range of risk factors, including a rate hike by the Bank of Japan and weak US labour data. However, year-to-date returns still remain positive across all the asset classes. In this Navigator, our team contextualise this volatility. Read more: https://lnkd.in/gHkgDGXE

New Zealand's economic indicators have been sending mixed signals as well. Forward activity indicators point towards a potential contraction in GDP for the second quarter, and a labour market showing signs of loosening. The Reserve Bank of New Zealand (RBNZ) is thus faced with the delicate task of balancing the risks of inflation against the possibility that inflation may decline more rapidly than expected over the medium term. Senior Investment Analyst Lewis Fowler, CFA, discusses Harbour's market outlook and the quarterly growth earnings expectations for July. https://lnkd.in/gbmh8jjU

Harbour's Senior Research Analyst Oyvinn Rimer was back on the ground in China in May, looking for signs that the weak consumer sentiment experienced last year would be on the improve. Meeting with many consumers, it is clear Mr and Mrs China are still being cautious about finances and their view on the economic outlook. https://lnkd.in/gPz3FhGv

Hear our Head of Global & Multi Asset Investments, Chris Di Leva, CFA, talk about the pros and cons of the New Zealand vs. Global investment markets debate in this Sharesies Shared Lunch Podcast. Find the full podcast below on Youtube, Apple Podcasts and Spotify. Youtube: https://lnkd.in/gdE6rQip Apple Podcasts: https://lnkd.in/g4rTdeCX Spotify: https://lnkd.in/g23dmVBF