The S&P/ASX All Ordinaries Accumulation Index closed up 1.4% for the week. On Tuesday, minutes from the Reserve Bank of Australia (RBA) gave no indication as to when the central bank would raise the cash rate, despite growing market expectations of tighter policy next calendar year. On Thursday, data from the Australian Bureau of Statistics (ABS) reported a fall in unemployment to 5.5% in August 2017 as the number of people employed rose for the 12th straight month, the longest run of consecutive gains since 1994.
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Slick Santos result
On Thursday, Santos Limited (ASX: STO) announced its third quarter results, reporting a reduction in net debt to US$2.8 billion, down from US$3.5 billion at the end of 2016. The company also reported a 4.0% increase in production from its five core oil and gas assets. We believe Santos’ high quality management team will continue to focus on reducing operating costs and growing production and its reserve base. Shares in Santos closed up 2.2% for the week. We own Santos as a market-driven investment in WAM Leaders and Century Australia.
Four weeks until our November 2017 Shareholder Presentations
Our November 2017 Shareholder Presentations are fast approaching. For a full list of cities, dates and to reserve your place visit our website. The Future Generation presentations will follow after the Wilson Asset Management presentations in each city. Find out more.
Future Generation Investment Forum stock ideas up 22.0%
Stock ideas shared by Future Generation’s fund managers at the inaugural Future Generation Investment Forum have delivered an annualised return of 22.0% since May 2017. You are invited to hear leading global and domestic fund managers’ exclusive investment ideas at the next Investment Forum in Melbourne on Thursday, 30 November 2017. Shareholders in WAM Capital, WAM Leaders, WAM Microcap, WAM Research, WAM Active, Century Australia, Future Generation and Future Generation Global receive three free tickets valued at $200 each. Reserve your place today. Unable to make it to Melbourne? Register for the livestream.
Chris is the Chief Investment Officer of Wilson Asset Management, having joined the company in 2006. He is also the Portfolio Manager responsible for WAM Capital (ASX:WAM), WAM Research (ASX:WAX), WAM Active (ASX:WAA) and WAM MicroCap (ASX:WMI).
love the company i bought at around $3.94 and was feeling a little sick when it lost 25% approx.To it credit the management team has been great paying down debt but due to these supid smsf laws where we need to take out 5% each year i had to sell taking a small profit of 6%. When will government realise that this % we need to take out of super is a total stupid law?