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Australia’s economy continued to grow but at a pace that the RBA has described as ‘below trend’. The economy is experiencing conditions that differ from a normal business cycle with numerous signs the post ‘mining boom’ transition of the Australian economy could be challenging. Partly offsetting the downturn in mining investment, housing construction has recently seen strong growth while consumer spending has also improved.  Faced with economic growth (and inflation) on the weaker side of expectations, the RBA reduced the cash rate on two occasions in the second half of the financial year.  The impact of the lower rates have clearly contributed to the sharp rise in dwelling prices in some of Australia’s major cities.

Growth in the US and UK have been the most resilient of the developed economies. As a result, they are expected to be the first countries to begin lifting interest rates.

Elsewhere in the developed world, conditions in the Eurozone and Japan are showing early signs of improving but it is occurring slowly, underpinning the ongoing need for their respective QE programs. On-going issues in Greece create risks that the Eurozone’s growth recovery will falter. Growth in Asia continues at a reasonable pace, while in China growth has slowed more than expected, requiring policy stimulus measures such as lower interest rates and fewer restrictions on bank lending.

Global equities – Global equities as represented by the MSCI World ex-Australia index returned 11.6% on a hedged basis (in AUD) over the year while unhedged returns (in AUD) were much higher at 25.9% for the year as the Australian dollar depreciated against major overseas currencies, particularly against the US Dollar and Pound Sterling.

Australian equities – It was a volatile year for Australian shares but for the year, the S&P/ASX300 index returned 5.6%. Strong growth nearly pushed the index through 6000 points on multiple occasions, before a steady sell-off in Q4 dragged the index back to 5451 at the financial year end.

While Australia’s share market recorded a modest gain, there were pronounced differences in industry sector performances. Increasing supply coupled with slowing demand in China combined to push iron ore prices lower. Rising shale oil production and a breakdown in the Organisation of Petroleum Exporting Countries (OPEC) cartel weighed heavily on oil prices. As a result, Energy (-20.4%) and Materials (-6.8%) sectors underperformed other sectors of the Australian market.

A low interest rate environment and increased volatility drove investors into high yielding and defensive sectors of the Australian market. As such, the best performers sectors were Health Care (29.1%) and Telecoms (25.8%). Companies with offshore earnings which are likely to benefit from the weakness in the Australian dollar versus the US dollar also performed well.

Property – in the Property sector, Australian Real Estate Investment Trusts (AREITs) generated a strong return (20.2%), with performance primarily driven by investors searching for yield.   Australian unlisted property trusts generated more stable returns over the financial year at around 9%.

Fixed Interest – Inflation linked bonds (6.4%) and hedged global government bonds (6.2%) provided the best returns, while Australian government bonds (5.8%) also performed well.

Interest rates remained at historically low levels around the globe for much of the year as the priority for many countries and regions was to provide much needed economic stimulus, especially in Europe where deflation has been a real risk.

Looking Ahead

At this time, the major developed world economies in the U.S and Europe are at various stages of their post GFC (Global Financial Crisis) recoveries while growth in key emerging markets including China is slowing. As it has over the past year, we believe this divergence of growth outcomes and the related divergence of monetary policy settings between the major economies will continue to exert a strong influence on investment markets in the year ahead. We expect further episodes of volatility in equity, currency and bond markets as investors reset expectations for growth and interest rates across the major economies with a particular focus on the U.S. where the Federal Reserve is cautiously moving towards raising interest rates for the first time since the GFC.

*Estimate at 9/7/2015

Source – JANA, FactSet, S&P, MSCI, Mercer, UBS, Barclays

All investment information in this article was provided by JANA Investment Advisers Pty Ltd Market Performance indicators make no allowance for tax or investment fees.

To view the latest investment returns and crediting rates for NESS Super and NESS Pension, please click on the link below:

http://nesssuper.com.au/super/investments/investment-performance/

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Principals of electrical and communications contractors who are Self-Employed or have a partnership business structure may not have super as your top priority amongst all the things needed to manage your day-to-day business. However, there may be some incentives to help you maximise your super and have enough to live on in your retirement.

Did you know that if you are Self-Employed or work as a contractor;

• You may be eligible for a tax deduction on your super contributions. Remember to make a contribution to NESS Super before 30 June 2015 to make a deduction for your 2015 tax return*
• You may also be eligible for a Government Co-contribution of up to $500 in respect of your non-concessional contributions if you earn $49,488 or less per annum**
• A Low Income Super Contribution of up to $500 may also apply if you earn $37,000 or less per annum**.*Remember, in order to make a claim, you must provide your super fund with a “Notice of Intent to claim a deduction for personal contributions” before the end of the following financial year and BEFORE you lodge your tax return.  For example, to claim a deduction for contributions made this financial year (1 July 2014 to 30 June 2015) you must provide a notice before 30 June 2016.  You must receive an acknowledgement from your super fund before claiming a deduction.

  **The Australian Tax Office (ATO) will automatically assess your eligibility and pay this to your super account if you are eligible. There are other conditions, such as ensuring your super fund has a record of your Tax File Number. A non-concessional contribution includes a contribution that you do not claim as a tax deduction.  This applies only to Self-Employed and substantially Self-Employed members as defined by the ATO.

  We recommend that you consult with a suitable qualified person before making any financial decisions.

  Self-Employed contractors who join NESS Super will enjoy the many benefits of being a NESS Super member, including:
  

• our simple and competitive fee structure
• 24/7 online access to your account through MemberAccess
• access to financial planning advice, including roll in other super accounts into NESS Super and the ability to consolidate online (no paper!) through MemberAccess
• default insurance cover of 2 units of Death and Total and Permanent Disablement and 2 units of Temporary Salary Continuance (subject to terms and conditions)
• access to low-interest home loans and discounted health insurance through ME Bank and NIB respectively
• pension options including potentially tax effective transition to retirement option for members who have reached their preservation age (currently age 55) who wish to take their super as a regular income in retirement or while still working.Joining NESS Super is simple. If you are eligible, all you need to do is click on the    (Iink button) button and follow the prompts.  Alternatively, you can complete the Application for Membership Form for Self-Employed Members (link form) or by calling us on 1800 022 067.  It is important that you read the NESS Super PDS which is also available from our website.

  To find out more about how NESS Super can help Self-Employed contractors, please contact Mynas Leontios, NESS Super’s employer service representative on 0448 432 443 or by email at mynasl@neca.asn.au. At NESS Super, we are here to help.

  NESS Super is the superannuation fund totally dedicated to the electrotechnology industry.

  Disclaimer:
  The information contained in this article is up-to-date at the time of its publication. However, some information can change over time. The contents are for general information only and do not constitute personal advice. We recommend that you consult with a suitably qualified person before making any financial decisions.

   

The post Super for Self Employed Contractors appeared first on NESS Super.

Principals of electrical and communications contractors who are Self-Employed or have a partnership business structure may not have super as your top priority amongst all the things needed to manage your day-to-day business. However, there may be some incentives to help you maximise your super and have enough to live on in your retirement.

Did you know that if you are Self-Employed or work as a contractor;

• You may be eligible for a tax deduction on your super contributions. Remember to make a contribution to NESS Super before 30 June 2015 to make a deduction for your 2015 tax return*
• You may also be eligible for a Government Co-contribution of up to $500 in respect of your non-concessional contributions if you earn $49,488 or less per annum**
• A Low Income Super Contribution of up to $500 may also apply if you earn $37,000 or less per annum**.*Remember, in order to make a claim, you must provide your super fund with a “Notice of Intent to claim a deduction for personal contributions” before the end of the following financial year and BEFORE you lodge your tax return.  For example, to claim a deduction for contributions made this financial year (1 July 2014 to 30 June 2015) you must provide a notice before 30 June 2016.  You must receive an acknowledgement from your super fund before claiming a deduction.**The Australian Tax Office (ATO) will automatically assess your eligibility and pay this to your super account if you are eligible. There are other conditions, such as ensuring your super fund has a record of your Tax File Number. A non-concessional contribution includes a contribution that you do not claim as a tax deduction.  This applies only to Self-Employed and substantially Self-Employed members as defined by the ATO.

  We recommend that you consult with a suitable qualified person before making any financial decisions.

  Self-Employed contractors who join NESS Super will enjoy the many benefits of being a NESS Super member, including:
  

• our simple and competitive fee structure
• 24/7 online access to your account through MemberAccess
• access to financial planning advice, including roll in other super accounts into NESS Super and the ability to consolidate online (no paper!) through MemberAccess
• default insurance cover of 2 units of Death and Total and Permanent Disablement and 2 units of Temporary Salary Continuance (subject to terms and conditions)
• access to low-interest home loans and discounted health insurance through ME Bank and NIB respectively
• pension options including potentially tax effective transition to retirement option for members who have reached their preservation age (currently age 55) who wish to take their super as a regular income in retirement or while still working.Joining NESS Super is simple. If you are eligible, all you need to do is click on the JOIN NESS Super button and follow the prompts.  Alternatively, you can complete the Application for Membership Form – Self-Employed Members  or by calling us on 1800 022 067.  It is important that you read the NESS Super PDS which is also available from our website.To find out more about how NESS Super can help Self-Employed contractors, please contact Mynas Leontios, NESS Super’s employer service representative on 0448 432 443 or by email at mynasl@neca.asn.au. At NESS Super, we are here to help.

  NESS Super is the superannuation fund totally dedicated to the electrotechnology industry.

  Disclaimer:
  The information contained in this article is up-to-date at the time of its publication. However, some information can change over time. The contents are for general information only and do not constitute personal advice. We recommend that you consult with a suitably qualified person before making any financial decisions.

   

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The post NESS Super Annual Report 2015 appeared first on NESS Super.

World share markets produced solid returns in the first half of the financial year. While geopolitical issues, concerns over the durability of the global recovery and the prospect of quantitative easing (QE) in the US coming to an end all contributed to bouts of market volatility, they didn’t prevent global share markets posting reasonable gains. For the six months to December, global shares had produced a return of 4.8% for Australian investors in hedged terms (that is, when the foreign currency exposure is hedged to the Australian dollar) and more than 13% in unhedged terms. The Australian dollar lost more ground against a resurgent US dollar, which was boosted by the impending end of QE in the US, ongoing QE in Japan, and the potential for QE in Europe.

Emerging share markets have continued to underperform those in the developed world, despite several key emerging markets being among the world’s best performers. The rally in these markets were driven by the election of reform-minded leaders in India, Indonesia, and a surprise cut in official interest rates in China saw the Chinese market returning more than 18% for the half year.  In the developed world, the US share market enjoyed a solid 6% return on the back drop of positive economic news, whilst Japan and Europe continued to struggle with the possibilities of deflation.

Back at home, our market managed a positive return supported by signs of improving economic growth outside the mining industry. Strong gains in listed shares in the real estate trust, healthcare and telecommunications sectors were offset by losses in mining shares, due to a significant fall in the iron ore price, which fell to its lowest level in five years.

Bond investors enjoyed much better returns in the second half of 2014, with yields falling in most major markets (bond yields and prices move in opposite directions). However, there was generally a widening in credit spreads – the difference in yield between government and non-government bonds – so non-government bonds tended to underperform government. The extraordinarily low level of interest rates and bond yields across the globe encouraged investors to keep seeking alternative sources of income. As a result, real estate investment trusts (REITs) both in Australia and globally continued to be highly sought after this financial year. Despite the very strong performance of Australian REITs in recent years, the sector has yet to recoup the losses it incurred during the global financial crisis.

Overall, the investment environment remains uncertain

Australian investors have enjoyed very good returns from multi-asset investment strategies over recent years, underpinned by the strong performance of world share markets. However, some important issues are unresolved and the post Global Financial Crisis (GFC) investment environment is far from predictable.

The NESS Investment Committee are watchful of developments and committed to delivering appropriately diversified investment portfolios which are well constructed for the market environment.

Looking out for 2015, NESS Super continues to invest member funds with a long term approach in order to deliver on our objective of providing sound retirement benefits. We are mindful that equity markets have had strong returns in recent years and are watchful of development and committed to delivering appropriately diversified investment portfolios, which are well constructed for the market environment. We will continue to work hard to invest wisely for the benefit of our members.

To view the latest investment returns and crediting rates for NESS Super and NESS Pension, please click on the link below:

http://nesssuper.com.au/super/investments/investment-performance/

NESS Super is the superannuation fund totally dedicated to the electrotechnology industry.

Disclaimer: The information contained in this article is up-to-date at the time of its publication. However, some information can change over time. The contents are for general information only and do not constitute personal advice. We recommend that you consult with a suitably qualified person before making any financial decisions.

The performance of the NESS Super and NESS Pension investment options are not guaranteed. The value will vary as it is based on the performance of the assets underlying each investment option. Past performance is not a reliable indicator of future performance.

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