The Verve Radical July 2022 – Message from Christina
There’s no sugar coating the news this month: it’s been tipped to be the worst year of performance for super funds since the GFC.
We’ve been through downtown moments with many of you before – most recently in 2020 when the press declared a share market flash crash at the onset of the COVID-19 pandemic.The global and Australian share market bounced back after that moment, like they have after every major sharemarket drop in history. And that’s why, like always, we encourage our members to keep a long term focus.
One of the features of markets this year has been that despite overall losses on the ASX and key global exchanges, oil and gas prices have been surging due to the war in Ukraine.
I’ve been asked about whether we should rethink our investment strategy and invest in fossil fuels, My answer: “absolutely not”!.
Firstly, like many of you, I’m proud that we don’t invest in Russian oil and gas, and as much of Europe burns, I’m also proud that we don’t directly invest in any fossil fuels. Our Investment Team also maintains its view that in the long term these assets are overvalued and that recent events in Ukraine are only more likely to speed up the transition of some countries towards renewable energy.
On a final more positive note, as we celebrated NAIDOC week in July, we’re delighted to highlight one of our absolutely incredible members: Cabrogal woman and tech entrepreneur, Mikaela Jade. I encourage you to read about her money story and the award-winning tech company, Indigital, that she founded. It’s simply amazing!
This is an excerpt from the July copy of the Verve Radical newsletter. Want to stay in the loop? Subscribe today.
This blog is published by Verve Superannuation Pty Ltd (ABN 65 628 675 169, AFS Representative No. 001268903), which is a Corporate Authorised Representative of True Oak Investments Ltd (ABN 81 002 558 956, AFSL 238184), as the Sub-Promoter of Verve Super.
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