Economic Update as at October 2020

Overseas shares posted negative returns in October 2020 as fears of a slowdown in the recovery materialised with onerous restrictions being re-imposed amid resurgence in COVID-19 cases. Overseas shares fell back into negative territory returning -3.2%, in hedged terms, over October. Global economic data for Q3 is showing a rebound from a similar sized economic collapse but forward looking data is already indicating another slowdown ahead, especially in Europe and the United Kingdom (UK) as further cases have brought back restrictions.

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The Financial Impact of a Furry Friend

There are over 29 million pets in Australia with approximately 61% of households owning one of these 29 million pets. Of that 61%, most are dog owners at 40%, followed by cat owners at 27%. In 2019, over 60% of dog and cat owners considered their pet as a member of their family[1] – which means we want to treat them well and keep them in good health for a long and happy life, but at what cost?

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