Dear Sir/Madam,


It appears that the Winter chill is now with us.  The days are short, the home fires are burning, Royal babies are being born and snow is finally beginning to fall at our ski fields.

For Australian investors on the whole it has been a warm and positive year.  For Chrysalis clients it has been an outstanding red hot year thus far!  I am very pleased with the progress of our regularly reviewed client portfolios.  In fact our returns place us amongst the top returns received for the various investor profiles in this country.  Lets hope this trend continues!
 
I have had some calls from clients lately concerned about the immediate economic forecast.  There is so much noise in the media at the moment it is confusing people.  At Chrysalis we are expecting a positive year coming our way, albeit more modest in size than this year.  A bumpy road is likely too as the market is buffeted mainly from comments from the US FED Chief, Ben Bernanke and by debt and economic factors in China.  Even Japan has been catching the eye of the investment world as it prints epic volumes of money like the Americans are to try to kick start their lagging economy. 
 
At home, productivity and cost of business appears to be our nemesis.  We have to lower costs and red tape or we will not compete with the world as we have seen with Ford and maybe Holden's departure - a great shame to lose these Aussie icons and jobs.  Interestingly the markets tend not to be impacted by Australian elections so I'm not expecting this to be a volatility factor in client portfolios.
 
So stay positive.  There are many good vital signs amongst Australian and global businesses at the moment and debt levels are low.  Demand is increasing and confidence is returning.  This part of the investment cycle will sort out the 'men from the boys'.  This is a time where skillful managers will really bring home solid returns for investors and mediocre ones will miss out.  There can be huge divergences in returns between investors with similar investor risk appetites during this period.  Skillful asset selection and correct allocation to the various investments is crucial in this phase of the cycle.  I am very confident that the Chrysalis Investment Committee are getting that right for you.  To that end, stay tuned for some investment switch recommendations coming shortly for many of you to further hone your investment selection.
 
Finally I'd like to congratulate and welcome two new employee appointments to Chrysalis.  Jo Wihongi has been on staff with Chrysalis for over 5 years running the back office.  She has now successfully completed her financial planning degree and I have licensed her to join the growing adviser team.  Justine Kitto has been my paraplanner on a contracted basis for nearly 20 years!  Justine now joins Chrysalis as an employee adviser and paraplanner.  
 
My favourite season of the year is next - Spring.  Lets hope that we will all look back on 2013 as the year of new beginnings.  Keep warm and best wishes to you and your family from your Chrysalis Team.

Chrysalis Lifestyle Planning

Chrysalis Advice team

Chrysalis Lifestyle Planning

Website: www.chrysalislp.com.au

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