Trump’s tariffs and his trade war threat

Just when the stock market looked like it was going to be great for our SWTZ fund, along came Donald Trump’s trade war threat! When it all started last Friday in the US and Saturday morning our time, this is what I wrote in our Switzer Report:

“You don’t have to be me to work out that the Trump tariff tantrum ruined what could have been an OK week for the local stock market. “I know this because my fund SWTZ saw $2.59 earlier in the week and then finished at $2.54!

The President’s bad decision to fire the first US shots in a trade war is a new curve ball for stocks. It makes me think that if ever I’ve said anything nice about Donald Trump, I’d like to tone down those endorsements.

Happily, the news out on Tuesday was that the President could be using negotiating tactics for a better NAFTA deal with Canada and Mexico. And his House Speaker Paul Ryan was opposed to his tariff play, so it might not ever make it into law.

All up, I expect stocks to rise this year and take our fund’s unit price higher, but I expect a fair bit of volatility. What does that mean? It’s a lot of ups and downs for the stock market, but on a rising trend.


President Donald Trump signs a proclamation on steel imports during an event in the Roosevelt Room of the White House in Washington, Thursday, March 8, 2018. He also signed one for aluminium. (AP Photo/Susan Walsh)

From our Investment Adviser: Portfolio update

The portfolio performance was flat in February. Against this, the All Ordinaries was 0.2% higher, the ASX200 0.4% higher and the Dow Jones was 4.3% lower. Overall, the Australian markets were relatively resilient compared to modest falls in offshore markets. However, the Australian market had previously not rallied as hard.

February was reporting season, with many companies reporting their earnings numbers for the last six months. Dividends were announced as well. Of the 32 stocks1 in the portfolio that reported this season, 31 have done so. Of these, 25 reported higher dividends, three were flat and three were lower.

The median increase for the portfolio was +4.8% and weighted average +15.7%. The returns can be compared to market heavyweights CBA (+1%) and Telstra (-29%) which dragged the chain. We are happy with the overall increase in dividends for the portfolio this period.

The portfolio holds a position in Woodside Petroleum which announced a surprise rights issue and a slew of growth projects. The company is the only major energy stock that offers an attractive yield, has a strong balance sheet and low costs of production.

Despite a strong result announced, with dividend up 18% in line with profits, the market took the capital raising poorly due to it not being expected and the stock was sold down. We continue to hold the position and foresee a recovery over time. All other contributors were within expectations.

1. Stocks included are all those non-REIT companies reporting held this period. Full year results are compared year-on-year, half year results compared half-on-half.

Upcoming distribution

The next distribution is coming up in April. The ex-date is expected to be April 2, and payments should start arriving in bank accounts by the 17th.

Thanks again for your support and if you have any questions please email us at or call us on 1300 794 893.

[sc name="post-disclaimer-swtz"] powergaming88 powergaming88 powergaming88 powergaming88 powergaming88 powergaming88 powergaming88 powergaming88 powergaming88 slot zeus nolimit city sv388 slot jepang scatter hitam slot thailand link slot thailand 777 slot powergaming88 slot luar negeri slot gacor maxwin slot gacor hari ini slot gacor terbaru mahjong ways 2 slot thailand jp slot slot bni slot bri slot bsi slot danamon slot gopay slot server korea slot malaysia slot amerika slot rusia fan tan monopoly live lightning roulette mega ball sweet bonanza candyland mega sic bo mega baccarat andar bahar sbobet88 ktm303 slot dubai slot qris powergaming88 Slot Thailand Slot Zeus Pg Soft Starlight Princess Slot Gacor Maxwin Joker123 Sv388 Slot Thailand Slot Thailand Slot Qris slot thailand joker123 mahjong ways 2 888slot slot jepang slot thailand slot mahjong ways slot qris slot deposit dana slot dana nolimit city slot thailand sv388 slot888 slot kamboja Slot Thailand Starlight Princess Mahjong Ways 2 Slot Maxwin slot thailand slot filipina slot88 slot thailand slot mahjong NEW SLOT POLA GACOR jp slot slot ganas crazy time live slot qris slot akurat qris slot zeus server thailand server hongkong slot ovo slot gopay slot linkaja joker123 nolimit city sv388 starlight princess mahjong ways pg slot slot zeus sv388 idn slot slot server thailand slot thailand nolimit city slot ovo slot gopay pragmati play starlight princess slot pg soft slot mahjong slot zeus digmaan slot mania slot zeus server thailand ying77 slot thailand judi bola live casino sv388 pg soft slot dana mahjong ways slot mania slot x500 ladangtoto slot server kamboja digmaan digmaan slot88 scv388 sabung ayam online slot live casino sicbo online slot thailand ladangtoto sv388 ladangtoto powergaming88 66kbet powergaming88 slot thailand ladangtoto slot thailand server thailand slot thailand slot thailand slot thailand slot gacor ladangtoto2 ying77 bet server thailand slot thailand ying77 slot88 ladangtoto ladangtoto slot maxwin sv388 sv388 slot gacor 66k bet slot dana sabung ayam inline slot mahjong slot toto slot server thailand slot gacor slot server thailand slot thailand situs slot wwg slot slot daftar judi slot online indonesia slot gacor slot mawin slot gacor slot thailand slot gacor slot gacor demo slot pragmatic sv388 slot88 pgsoft Daftar Judi Slot Online Indonesia Paling Gacor di Indonesia Daftar Situs Judi Slot Online SLOT88 lucky neko slot gacor slot88 slot kakek slot maxwin slot thailand Slot Mahjong Ways 2 Mudah Jackpot Paus di PG Soft Hari ini 2023 Lucky Neko Situs Slot Gacor Pgsoft Hari Ini SITUS SABUNG AYAM SV388 ONLINE DAFTAR LINK LOGIN APK AGEN SV388