There were a lot of cross-currents working their way through the Australian equity market in June. The most powerful was a change in rate expectations by the RBA. The month started with further rate hikes expected, but by month end, these had been largely removed. This saw better performance by some early cycle cyclicals but not all – such as banks which are under pressure from a softening housing market. Alongside this, the AI thematic continued to exert itself – albeit with much volatility. Hear from Jun Bei Liu as she discusses the major market drivers and how the portfolio performed and is positioned as we enter 2H26.
