POWERED BY MOMENTUM MEDIA
Ratings agency points to economic challenges
International ratings agency, Fitch Ratings has pointed to a slowing economy and raising unemployment as among the challenges confronting the re-election Liberal/National Party Coalition Government.
“We forecast the Federal government to reach an underlying cash surplus by next fiscal year. But a challenging economic environment poses risks to this outlook,” the company said in a post-election analysis. “The economy is slowing and the unemployment rate has inched up, which could weigh on fiscal revenues. A sharper economic slowdown could also lead to pressures for greater fiscal stimulus.”
“The likely continued need for cross-bench support in the Senate could limit the government’s ability to advance some of its policy priorities. This poses additional risks to the budget outlook and the government’s ability to tackle medium-term economic reforms,” the Fitch Ratings analysis said.
However, it said that it expected the re-election would bring broad party policy continuity in line with the fiscal priorities announced in the Government’s pre-election budget.
Recommended for you
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
The fund has unveiled reforms to streamline death benefit payments, cut processing times, and reduce complexity.
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
