1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
Key Points:
Growing use of ETFs to gain exposure to US technology and space-related themes MAET strategy fund heavily allocated to US tech, semiconductors and Nasdaq via ETFs Expectation of RBA on hold, with banks under pressure and oil price moves driving energy stocks
Henry Jennings from Marcus Today sees thematic ETFs as an increasingly powerful tool for Australian investors seeking global growth exposure. Jennings highlights the success of the recent SpaceX float and notes that many local investors gain indirect exposure via the Munro Global Growth Complex ETF, rather than buying individual listings. He points to the popularity of ETFs, now above $350 billion in Australia, citing low cost, diversification and ease of trading as key attractions.
Jennings states that his MAET strategy fund is now largely ETF-based and heavily tilted towards US technology, semiconductors and the Nasdaq, with around $160 million currently deployed. He regards the US as the primary engine for tech returns and expects further structural support once SpaceX enters major indices, potentially forcing additional ETF buying.
On local markets, Jennings notes bank weakness ahead of the Reserve Bank decision, but he expects no rate hike, citing a sharp oil price fall and the potential for a more dovish tone from Governor Michelle Bullock. In energy, he sees Karoon Energy (ASX:KAR) pressured by production issues and softer oil, while Woodside Energy (ASX:WDS) and Santos (ASX:STO) hold up better. He views older Australians as underpinning resilient discretionary spending.
