INSIDE THIS ISSUE

• Q2 2020 Performance. Leading the charge to the upside were the Software and Services and Media and Entertainment sectors as demand for both technology and media spiked.
• The recovery of bank share prices. The relaxation of lock down restrictions is an important first step in the recovery of bank share prices.
• Bank dividends: Ordinary shares versus Hybrids. Traditional Equity Investors are turning to Hybrid Securities for a solution to Franked Income.
• Economic outlook as we emerge from COVID-19. Australia has navigated the coronavirus better than many countries (so far) due a combination of robust social distancing, weather and island quarantine.
• The gold price multiyear thesis. Gold price and real interest rates are well correlated highlighting that gold price will likely track higher as interest rates remain low/negative.
• Why tech companies are outperfoming. In the past five years, emerging cloud companies have outperformed the broader market internationally by 10x.
• Stock recommendations: Commonwealth Bank of Australia (CBA), Suncorp Group (SUN), Newcrest (NCM), Western Areas (WSA), Openpay (OPY), Wisr (WZR), Strandline Resources (STA), Geopacific Resources (GPR), Damstra (DTC), Probiotec (PBP).