Jonathan Armitage
speaker
132 appearances
2 recordings
1 series
first heard Apr 2026
last heard 1 Jul
Jonathan Armitage’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.
Appearances
Well, I think you identified a number of the sort of factors in your sort of opening remarks.
I mean, we've had some very strong returns from equity markets, but at the same time, it's been against a backdrop of two conflicts, an energy spike
And a number of other sort of ongoing issues which have caused disruption, whether or not it's to sort of supply chains, policy uncertainty.
So there is a long list of things that could have upset markets.
And yet we're looking at returns for an awful lot of superannuation members, which will be double digit, which is a great result.
Why?
Why have super returns done so well?
So I think the primary drivers have been in equity markets.
If you look at global equities overall, they performed again very strongly.
A lot of that has been driven out of the United States, but you've also seen very strong performance out of markets like Japan.
in Aussie dollar terms, Japan was up about over 40% over the last 12 months or so.
And you've also seen very strong returns out of emerging markets, particularly markets like South Korea, Taiwan, and also China.
It's been in part driven by that.
But if you actually look at the returns from markets other than Taiwan and South Korea, where it has absolutely been driven by the AI ecosystem, you've actually seen returns a little bit more broader than that.
But technology has been an important driver to the returns that you've seen both in emerging markets and also elsewhere.
Yes, it's been, as you correctly pointed out, it's been quite a bifurcated equity market over the last 12 months or so.
I think one of the other things that has been a feature of the investing environment here in Australia is that the interest rate environment has been going in a slightly different direction than you've seen in other developed markets.
You've seen inflation remaining quite stubborn here.
You've seen actions from the Reserve Bank to bring inflation under control.
And that's been running sort of contrary to what you've seen over the last 12 months or so in other markets.
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