And while we have no direct client exposure to investments in Greece, its serious debt problems are causing increased volatility in share markets where we are invested.
A couple of key points to note are:
· Greece’s entire economy is less than a third of the size of Australia (and Australia only makes up around 2% of global markets).
· The daily direction of stock markets – up or down – should not dictate your investment strategy. The strategy we develop for you takes into account your financial objectives, investment time horizon, risk tolerance and your personal financial circumstances.
· The investments we recommend for our clients are ones we believe offer the best likelihood of longer term resilience. So even though no stock is completely resistant to an event such as we are seeing in Greece, we believe the best approach is to ride it out, maintain your strategy and expect the markets to regain their equilibrium before long.
As always, if you have any questions about your portfolio, please don’t hesitate to contact us.