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Portfolios follow market lower in October

The US stock markets posted big losses in October. In volatile trading, the S&P 500 lost 6.9%, its biggest one-month slide since September 2011; the Dow Jones dropped 5.1 percent to post its biggest monthly fall since January 2016;, and the Nasdaq plunged 9.2%, its largest monthly pullback since November 2008.

The Australian share market took its cue from the USA and lost 6.1%, Our model portfolios largely tracked the local market lower, with the income portfolio proving to be a little more resilient. Year to date, our model income portfolio, which is overweight financials and communication services, has underperformed the index by 2.9%, while our model growth portfolio has outperformed the index by 0.2%.

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