Paul Glass and Slade Robertson

from Devon Funds Management

Investment management has been a life-long passion for Paul Glass.  Paul established Devon Funds Management after acquiring Goldman Sachs JBW Asset Managemnt (NZ) in March 2010.  Devon now  has a large and experienced Australasian equity team in New Zealand.

 

New Zealand is a highly taxed country.  The wealthy who comprise the top 3%, pay 25% of the tax and the bottom 30% of households do not pay any tax.

 

Current interst rates are very low.  A third of the world Government Bonds have a negative value.  Inflation rates are almost zero.

 

Slade Robertson has 20 years of experience in both the New Zealand and Australian investment industry.  After spending 6 years as a Portfolio Manager for Devon Funds, in March 2017, he became the Manging Director.  He continues to contribute to the investment process as a member of the Investment Committee. 

 

The New Zealand stock market has done extremely well since the end of the GFC.  

China's economic growth is seen as a threat to the USA.  China is investing massively in infrastructure.

 

Australia is doing well.  Their property market shows that prices are down 20%.

 

John Simpson thanked Paul and Slade for their interesting presentation.