Financial markets have been on an unpredictable ride this year, driven by geopolitical tensions, from escalating tensions in the Middle East to Russia’s war with Ukraine, China’s economic wobbles, and Donald Trump’s sweeping election victory. Financial markets watched with bated breath as the world, like a rollercoaster, dipped and swayed through global uncertainties.
As uncertainty soared, traditional investments wavered, while alternative assets surged in popularity. Bitcoin, in particular, gained traction with rising institutional support through ETFs, even climbing above US$100,000 and capturing the attention of Australia’s superannuation sector.
On the home front, the Reserve Bank of Australia (RBA) held firm in its efforts to curb inflation, keeping interest rates on hold throughout the year. Inflation, however, proved stubborn, kicking and resisting efforts to tame it.
The Australian economy underperformed, raising doubts about the government’s claims of “responsible economic management”. And as the year drew to a close, political tensions mounted, with the upcoming election becoming increasingly contentious.
Labor’s policy choices continued to come under scrutiny, adding uncertainty to the political landscape for 2025. Arguably one of Labor’s boldest moves was the much-anticipated breakup of the RBA into two boards – just barely passing before Parliament retired for the year.
In other standout moments, Labor pushed hard to lock in superannuation’s primary focus on retirement by cementing its objective in law. But not all the spotlight was on the government. Super funds had their own drama to contend with.
Cbus found itself battling credibility issues, while AustralianSuper’s bold venture capital investments raised eyebrows. Meanwhile, Mercer Super and Active Super were thrown into the legal ring, showing that even the most established funds aren’t immune to controversy. It really was a year where the funds took centre stage, but many for the wrong reasons.
InvestorDaily has kept you at the forefront of the year’s financial twists and turns, with thousands of updates on asset performance and market shifts. As we wrap up 2024, our holiday coverage will continue, keeping you in the loop.
We’re already gearing up for 2025, where more breaking news, fresh insights, and expert analysis await.
Thanks for being part of our journey, the story’s just getting started! Stay with us for what’s next in the ever-evolving world of finance.
Happy holidays from the team at InvestorDaily!
