Netwealth's GSS Active funds andRussell Investments
Multi-Asset Fund updates
September 2016
Housekeeping
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Meet todays speaker
Andrew Sneddon, CFA Managing Director, Senior Portfolio Manager Russell Investments
p.1
Disclaimer
Issued by Russell Investment Management Ltd ABN 53 068 338 974, AFS Licence 247185 (RIM). This document provides general information only and has not been prepared having regard to your objectives, financial situation or needs. Before making an investment decision, you need to consider whether this information is appropriate to your objectives, financial situation and needs. This information has been compiled from sources considered to be reliable, but is not guaranteed. Past performance is not a reliable indicator of future performance. Any potential investor should consider the latest Product Disclosure Statement (PDS) in deciding whether to acquire, or to continue to hold, an investment in any Russell product. The PDS can be obtained by visiting www.russell.com.au or by phoning (02) 9229 5111. RIM is part of Russell Investments (Russell). Russell or its associates, officers or employees may have interests in the financial products referred to in this information by acting in various roles including broker or adviser, and may receive fees, brokerage or commissions for acting in these capacities. In addition, Russell or its associates, officers or employees may buy or Sell the financial products as principal or agent.
FINANCIAL PROFESSIONAL USE ONLY
http://www.russell.com.au/
Agenda
Philosophy and heritage Global investment team Investment process - Active, Multi-Asset Performance Investment outlook
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Russell Investments proud heritage
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Our ValuesWe behave with non-negotiable integrity.We have a genuine focus on our people including family, community and personal goals.We strive to exceed client expectations.
Russell Investments*Over $AUD321 billion in assets under management (AUM)We provide services to over 1,700 institutional clients, independent distribution partners and individual investors in over 33 countries globally.
* As at 31 March 2016
1936Russell established as brokerage firm
1971Initiated Real Estate manager research
1976First to develop Equity Style classifications
1986Initiated Hedge Fund manager research
1990Russell 20-20 initiated
2007Introduced centralised
portfolio management
2010Russell launched first Australian ETF the Russell High Dividend ETF
2016Investment manager for over $AUD321 billion globally
1969Russell pioneers objective manager research and investment consulting
1980First
Russell Multi-
Manager funds
launched
1984Launch of Russell Equity Indexes
1988Initiated Private Equity
manager research
1994Currency hedging
2002Dedicated alternative Hedge Fund of Fund research
2014Introduced
style and factor based indexes
for portfolio management
Agenda
Philosophy and heritage Global investment team Investment process - Active, Multi-Asset Performance Investment outlook
p.4 FINANCIAL PROFESSIONAL USE ONLY
Portfolio management team accountable for performance outcomes
p.5
Andrew SneddonPM Multi Asset
Capital markets, economists and
strategists
Manager researchers
Operational due diligence researchers
Implementation associates
Supported by specialist teams
Ed GarciaPM Global Private Real Estate
Scott MaidelPM Volatility, Options
Keith BrakebillPM Global High Yield, EM Local
Adam BabsonPM Global Listed Infrastructure
Jon EgginsPM Global Equities Factors
Symon ParishPM Australian Shares
Kathrine HusvaegPM Emerging Markets
James MitchellPM Global Fixed Income
Clive SmithPM Australian Fixed Income
Graeme AllanPM Global Opportunities, TEGS
Figures as at 30 September 2015.
Portfolio managers
FINANCIAL PROFESSIONAL USE ONLY
Agenda
Philosophy and heritage Global investment team Investment process - Active, Multi-Asset Performance Investment outlook
p.6 FINANCIAL PROFESSIONAL USE ONLY
ManageConstructDesign
Dynamically adjust to changing circumstances, markets, and third
party managers
Translate objectives into a strategic asset allocation
Access exposures through a combination of third party managers
and positioning strategies
POSITIONING STRATEGIES
MANAGER RESEARCH
STRATEGIC BELIEFS
ESTABLISH OBJECTIVES
OUR FORECASTS
PORTFOLIO ANALYTICS
INTEGRATED TRADING
FORWARD LOOKING MARKET VIEWS
How we investMOVING FROM OBJECTIVES TO REPEATABLE OUTCOMES
p.7 FINANCIAL PROFESSIONAL USE ONLY
8
Russell Balanced Fund Design + Construct
as at 7 September 2016
Fixed Income & Cash
Real Assets & Alternatives
ListedEquities
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Listed Equities 54.50%Australian Shares 27.50% Russell Australian Shares (Tracker) 27.50%International Shares 27.00% Russell Tax Effective Global Shares Fund 7.40% Russell Global Opportunities 5.60% Russell Multi-Asset Factor Exposure Fund 12.20% Russell Global Opportunities (Hedged) 1.80%
Real Assets 6.00% Vanguard Australian Property Securities Index 1.50% Vanguard International Property Securities Index 4.50%
Alternatives 12.50% Russell Multi-Strategy Volatility Fund 2.50% Russell Emerging Markets Debt Local Currency 2.00% Russell Global Strategic Yield 5.00% Amundi Absolute Volatility Global Strategy 0.50% CoreCommodity Strategy Fund - I2-AUD 0.50% Russell Global Listed Infrastructure Fund Hedged 2.00%
Fixed Income & Cash 27.00% Russell International Bond (Hedged) 11.00% Russell Australian Bond 11.50% Russell Australian Cash Enhanced 4.50%
Manage // Dynamic management critical for success
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Allocation based on Russell Balanced Opportunities PST as at Q3 2015
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
01-Aug-07 01-Aug-08 01-Aug-09 01-Aug-10 01-Aug-11 01-Aug-12 01-Aug-13 01-Aug-14 01-Aug-15
10
12
14
16
18
20
22
24
26
28
30
1750
1800
1850
1900
1950
2000
2050
2100
2150
Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16
S&P 500 VIX Index
Manage // Dynamic management through Fed hikeDownside equity risk protection, adding more growth assets in mid-Q1
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Portfolio activity
20-Oct:Bought 2000 US SPX put option with Dec expiry
25-Nov:Converted 2000 Put to 2075 Put with Jan-16 expiry
29-Jan:Put options expire in-the-money, as equity markets fall -9% from strike. Replace with short futures positions. Add Topix post-BoJ.
15-Feb:Sell REITs, AusEquities. Buy High Yield debt. Convert long European futures into bullish risk-reversal option structures*.
7-Mar:Buy more European bullish risk-reversal option structures.Close Topix long and reduce US short.
Q1 2016
Risk-offDownside protection
Finding Valuein growth
assets, still cautious
Risk-onReduce u/w to
equities
Fed Hikes
15-Dec:Converted EM Hard Currency to Global High Yield Debt
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90
92
94
96
98
100
102
104
01-Jun-16 05-Jun-16 09-Jun-16 13-Jun-16 17-Jun-16 21-Jun-16 25-Jun-16 29-Jun-16
Equity action taken in Multi-Asset portfolios during June 2016 (MSCI ACWI, index = 100)
Manage // Dynamic management through Brexit Downside limitation and upside participation in a high volatility world
1 2 3 4
12
3
4BUY S&P 500 Put Spot = 2110Strike = 2100 (At-the-money)US VIX = 13%
SELL Euro Stoxx 50 Put Spot = 2790Strike = 2500 (11% Out-the-money)Europe VIX = 39%
Ahead of the UKs EU referendum vote, bought US S&P 500 protection when implied volatilities were low when the markets were calm.
As the pre-vote surveys showed a shift towards Leave, sold European (Euro Stoxx 50) put options to earn a high level of income. These puts had a low strike to avoid being triggered.
On the day of the vote, before polling started, underweight equities (-6.5% true growth relative to benchmark).
Risk assets start to rebound as the aftermath of Brexit presents buying opportunities. The immediate sentiment is that Brexit is a UK/EU isolated event.
Continues into July 2016
DOWNSIDE LIMITATION buying Sep
S&P put options
UPSIDE PARTICIPATION selling Sep E-Stoxx put options
MAINTAIN DEFENSIVE
STANCE
CAPTURE VALUE via EM equities and
debt (EMDLC)
WHAT WE DID
FINANCIAL PROFESSIONAL USE ONLYp.11
Brexit Decision
Agenda
Philosophy and heritage Global investment team Investment process - Active, Multi-Asset Performance Investment outlook
p.12 FINANCIAL PROFESSIONAL USE ONLY
13
Russell Investments Multi-Asset Funds Class A Absolute net returns & peer-relative quartiles to 30 June 2016
0
5
10
15
Conservative Diversified 50 Balanced Growth High Growth
3 Months
1 Year
3 Years
5 Years
7 Years
p.13
%
Source: Bar graph - Russell calculated performance returns. Quartile table - Chant West Implemented Consulting Survey. Issued by Russell Investment Management Ltd ABN 53 068 338 974, AFS Licence 247185 (RIM). This document providesgeneral information for wholesale investors only and has not prepared having regard to your objectives, financial situation or needs. Before making an investment decision, you need to consider whether this information is appropriate to yourobjectives, financial situation or needs. The performance data shown does not take into account fees, charges and taxes, and is not a reliable indicator of the net return to you as an investor. Past performance is not a reliable indicator of futureperformance. Any potential investor should consider the latest Product Disclosure Statement (PDS) in deciding whether to acquire, or to continue to hold, an investment in any Russell product. The PDS can be obtained by visitingwww.russell.com.au or by phoning (02) 9229 5111. RIM is part of Russell Investments (Russell). Russell or its associates, officers or employees may have interests in the financial products referred to in this information by acting in various rolesincluding broker or adviser, and may receive fees, brokerage or commissions for acting in these capacities. In addition, Russell or its associates, officers or employees may buy or sell the financial products as principal or agent. Copyright 2016RIM. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from RIM. Chant West Pty Limited (ABN 75 077 595 316) 1997 - 2016. The Chant West datais based on information provided by third parties that is believed accurate at the time of publication. Past performance is not a reliable indicator of future performance. Your objectives, financial situation and needs have not been taken intoaccount by Chant West and you should consider the appropriateness of this information having regard to your objectives, financial situation and needs, and read the relevant PDS, before making any decisions. Chant Wests Financial ServicesGuide is available at www.chantwest.com.au.
1 2 1 2 12 2 2 2 22 1 3 2 12 2 2 3 31 2 1 1 2
3 month1 year3 years5 years7 years
FINANCIAL PROFESSIONAL USE ONLY
Chart1
2.87138181443.47124203836.03663058436.62332290117.7014403973
3.21312995192.77791442027.22332388357.50765221698.5154883423
3.33318541021.92113837558.1476533848.2572592549.2978294383
3.46049867760.9988878428.87533751458.62693165579.6603510064
3.38305341830.741604606910.10430985539.460631398110.4041846415
3 Months
1 Year
3 Years
5 Years
7 Years
Sheet1
6/30/16RUSSTABRUSDIV50RUSBALRUSGROWTHRUSHGRA
ConservativeDiversified 50BalancedGrowthHigh Growth
3 Months2.873.213.333.463.38
1 Year3.472.781.921.000.74
3 Years6.047.228.158.8810.10
5 Years6.627.518.268.639.46
7 Years7.708.529.309.6610.40
Soaker Extract
30.000.000.000.000.00
10.000.000.000.000.00
30.000.000.000.000.00
50.000.000.000.000.00
70.000.000.000.000.00
Data Sheet
Q'tileColumnRow StartsRow EndsArea RangeFund ID RangeRUSSTABRUSDIV50RUSBALRUSGROWTHRUSHGR
ConservativeDiversified 50BalancedGrowthHigh Growth
1 Year62221'CW Survey_INPUT RETAIL (2)'!A22:AZ21'CW Survey_INPUT RETAIL (2)'!$C22:$C2112121
1 Year62233'CW Survey_INPUT RETAIL (2)'!A22:AZ33'CW Survey_INPUT RETAIL (2)'!$C22:$C3322222
3 Year63439'CW Survey_INPUT RETAIL (2)'!A34:AZ39'CW Survey_INPUT RETAIL (2)'!$C34:$C3921321
5 Year64045'CW Survey_INPUT RETAIL (2)'!A40:AZ45'CW Survey_INPUT RETAIL (2)'!$C40:$C4522233
7 Year64651'CW Survey_INPUT RETAIL (2)'!A46:AZ51'CW Survey_INPUT RETAIL (2)'!$C46:$C5112112
CW Survey_INPUT RETAIL (2)
LEGEND - QUARTILE RANKING
1stRank within top 25% in peer universe
2ndRank between 25% and 50% in peer universe
3rdRank between 50% and 75% in peer universe
4thRank in bottom 25% in peer universe
HEAT LEGEND - RETURNS
RedBelow Median & Benchmark Returns
AmberEither below Median or below Benchmark
GreenAbove/equal to Median & Benchmark Returns
30 June 2016CHANT WEST BENCHMARKCHECK ACTUAL RETURNSQuartile Return used in Calculation of Quartile RankingCalculated Qtle Return - for universe with less than 8 peersQuartile Return per Per Chant West Survey
CHANT WEST Multi-Manager Retail SurveySOAKer Fund CodeRankNumber of FundsQ'tileActual ReturnMedianBenchmarkHeatChant West Survey BenchmarkBenchmark CodeGross CodeAct. ReturnCommentUpper QuartileLower QuartileUpper QuartileLower QuartileUpper QuartileLower Quartile
3 Month
Russell High Growth A ClassAll Growth (100%) - Russell High GrowthRUSHGR271st3.4%3.1%4.3%AmberVanguard High GrowthRUSHGRABMRUSHGRA0.00%03.2%2.8%3.2%2.8%n/an/a
Russell Growth A ClassHigh Growth (81%-100%) - Russell GrowthRUSGROWTH4102nd3.5%2.9%4.3%AmberVanguard High GrowthRUSGROWTHBMRUSGROWTH0.00%03.6%2.6%3.6%2.6%3.6%2.6%
Russell Balanced A ClassGrowth (61%-80%) - Russell BalRUSBAL4102nd3.3%2.8%4.0%AmberVanguard GrowthRUSBALBMRUSBAL0.00%03.3%2.4%3.3%2.4%3.3%2.4%
Russell Diversified 50 A ClassBalanced Growth (41%-60%) - Russell Div 50RUSDIV502101st3.2%2.6%3.7%AmberVanguard BalancedRUSDIV50BMRUSDIV500.00%02.9%2.4%2.9%2.4%2.9%2.4%
Russell Conservative A ClassConservative Growth (21%-40%) - Russell ConsRUSSTAB281st2.9%2.2%3.2%AmberVanguard ConservativeRUSSTABBMRUSSTAB0.00%02.4%2.1%2.4%2.1%2.4%2.1%
1 Year
Russell High Growth A ClassAll Growth (100%) - Russell High GrowthRUSHGR372nd0.7%-0.3%2.8%AmberVanguard High GrowthRUSHGRABMRUSHGRA0.00%00.8%-0.6%0.8%-0.6%n/an/a
Russell Growth A ClassHigh Growth (81%-100%) - Russell GrowthRUSGROWTH5102nd1.0%0.8%2.8%AmberVanguard High GrowthRUSGROWTHBMRUSGROWTH0.00%03.3%0.4%3.3%0.4%3.3%0.4%
Russell Balanced A ClassGrowth (61%-80%) - Russell BalRUSBAL5102nd1.9%1.7%4.2%AmberVanguard GrowthRUSBALBMRUSBAL0.00%03.4%1.3%3.4%1.3%3.4%1.3%
Russell Diversified 50 A ClassBalanced Growth (41%-60%) - Russell Div 50RUSDIV507103rd2.8%2.8%5.5%RedVanguard BalancedRUSDIV50BMRUSDIV500.00%03.5%2.4%3.5%2.4%3.5%2.4%
Russell Conservative A ClassConservative Growth (21%-40%) - Russell ConsRUSSTAB482nd3.5%3.4%6.2%AmberVanguard ConservativeRUSSTABBMRUSSTAB0.00%03.7%3.1%3.7%3.1%3.7%3.1%
2 Year
Russell High Growth A ClassAll Growth (100%) - Russell High GrowthRUSHGR271st6.7%5.6%8.1%AmberVanguard High GrowthRUSHGRABMRUSHGRA0.00%06.2%5.4%6.0%5.3%6.2%5.4%
Russell Growth A ClassHigh Growth (81%-100%) - Russell GrowthRUSGROWTH5102nd5.9%5.7%8.1%AmberVanguard High GrowthRUSGROWTHBMRUSGROWTH0.00%07.8%5.3%7.8%5.3%7.8%5.3%
Russell Balanced A ClassGrowth (61%-80%) - Russell BalRUSBAL5102nd5.7%5.5%7.9%AmberVanguard GrowthRUSBALBMRUSBAL0.00%07.1%5.1%7.1%5.1%7.1%5.1%
Russell Diversified 50 A ClassBalanced Growth (41%-60%) - Russell Div 50RUSDIV506103rd5.4%5.5%7.7%RedVanguard BalancedRUSDIV50BMRUSDIV500.00%06.2%5.0%6.2%5.0%6.2%5.0%
Russell Conservative A ClassConservative Growth (21%-40%) - Russell ConsRUSSTAB482nd4.9%4.9%7.1%AmberVanguard ConservativeRUSSTABBMRUSSTAB0.00%05.1%4.4%5.1%4.4%5.1%4.4%
3 Year
Russell High Growth A ClassAll Growth (100%) - Russell High GrowthRUSHGR271st10.1%9.7%10.9%AmberVanguard High GrowthRUSHGRABMRUSHGRA0.00%09.9%8.6%9.9%8.6%n/an/a
Russell Growth A ClassHigh Growth (81%-100%) - Russell GrowthRUSGROWTH5102nd8.9%8.9%10.9%AmberVanguard High GrowthRUSGROWTHBMRUSGROWTH0.00%09.4%8.5%9.4%8.5%9.4%8.5%
Russell Balanced A ClassGrowth (61%-80%) - Russell BalRUSBAL6103rd8.1%8.2%10.1%RedVanguard GrowthRUSBALBMRUSBAL0.00%08.5%7.8%8.5%7.8%8.5%7.8%
Russell Diversified 50 A ClassBalanced Growth (41%-60%) - Russell Div 50RUSDIV503101st7.2%7.2%9.2%AmberVanguard BalancedRUSDIV50BMRUSDIV500.00%07.2%7.0%7.2%7.0%7.2%7.0%
Russell Conservative A ClassConservative Growth (21%-40%) - Russell ConsRUSSTAB482nd6.0%6.0%7.9%AmberVanguard ConservativeRUSSTABBMRUSSTAB0.00%06.2%5.5%6.2%5.5%6.2%5.5%
5 Year
Russell High Growth A ClassAll Growth (100%) - Russell High GrowthRUSHGR573rd9.5%9.6%10.5%RedVanguard High GrowthRUSHGRABMRUSHGRA0.00%09.9%8.0%9.9%8.0%n/an/a
Russell Growth A ClassHigh Growth (81%-100%) - Russell GrowthRUSGROWTH7103rd8.6%8.9%10.5%RedVanguard High GrowthRUSGROWTHBMRUSGROWTH0.00%09.3%8.6%9.3%8.6%9.3%8.6%
Russell Balanced A ClassGrowth (61%-80%) - Russell BalRUSBAL592nd8.3%8.3%9.9%AmberVanguard GrowthRUSBALBMRUSBAL0.00%08.8%7.9%8.8%7.9%8.8%7.9%
Russell Diversified 50 A ClassBalanced Growth (41%-60%) - Russell Div 50RUSDIV50592nd7.5%7.5%8.9%AmberVanguard BalancedRUSDIV50BMRUSDIV500.00%07.6%7.0%7.6%7.0%7.6%7.0%
Russell Conservative A ClassConservative Growth (21%-40%) - Russell ConsRUSSTAB482nd6.6%6.5%7.6%AmberVanguard ConservativeRUSSTABBMRUSSTAB0.00%06.7%6.0%6.7%6.0%6.7%6.0%
7 Year
Russell High Growth A ClassAll Growth (100%) - Russell High GrowthRUSHGR372nd10.4%10.3%10.8%AmberVanguard High GrowthRUSHGRABMRUSHGRA0.00%010.5%8.9%10.5%8.9%n/an/a
Russell Growth A ClassHigh Growth (81%-100%) - Russell GrowthRUSGROWTH5102nd9.7%9.6%10.8%AmberVanguard High GrowthRUSGROWTHBMRUSGROWTH0.00%09.7%9.3%9.7%9.3%9.7%9.3%
Russell Balanced A ClassGrowth (61%-80%) - Russell BalRUSBAL291st9.3%9.0%10.1%AmberVanguard GrowthRUSBALBMRUSBAL0.00%09.2%8.6%9.2%8.6%9.2%8.6%
Russell Diversified 50 A ClassBalanced Growth (41%-60%) - Russell Div 50RUSDIV50492nd8.5%8.1%9.0%AmberVanguard BalancedRUSDIV50BMRUSDIV500.00%08.7%7.8%8.7%7.8%8.7%7.8%
Russell Conservative A ClassConservative Growth (21%-40%) - Russell ConsRUSSTAB281st7.7%7.2%7.7%GreenVanguard ConservativeRUSSTABBMRUSSTAB0.00%07.6%6.7%7.6%6.7%7.6%6.7%
Note: Where there is less than 8 peers in the Chant West Survey, quartiles are not published by Chant West. Quartiles are determined by separate calculation and should be used only as a guide.
Note: Returns are net of fees but gross of tax.
&A
&Z&F
Sheet3
Agenda
Philosophy and heritage Global investment team Investment process - Active, Multi-Asset Performance Investment outlook
p.14 FINANCIAL PROFESSIONAL USE ONLY
Bond outlook Low Return, problematic defense
p.15 FINANCIAL PROFESSIONAL USE ONLY
Equities outlook Low Return, problematic offence
p.16
SOURCE: Thomson Reuters Datastream, 15 July 2016
FINANCIAL PROFESSIONAL USE ONLY
Russell Investments outlook A Low Return, High Volatility world Global equities: Bull market ending; bear market not yet confirmed but risks are
high. Option strategies make sense. US is significantly more expensive than Europe, Japan, Emerging Markets The bull case for Emerging Markets continues to build. Debt risk lingers Global bonds at risk we believe inflation is returning; and we are seeing
capitulation buying Global credit still offers reasonable risk/return mix; including EM (both hard and
local). We are upgrading our cycle assessment (i.e., less negative). US Dollar bull market is mature; Australian dollar vulnerable respecting the
carry Australian equities vs global equities still in a trading range Global bear market in commodities is ending; bull market still a way off No strong directional view on Global Listed Infrastructure and GREITs We expect US rate hike and potential Aust rate cut in Q416.
p.17 FINANCIAL PROFESSIONAL USE ONLY
Russell Investments - multi-asset positioningAUGUST 2016
p.18
Note: Figures shown are for Balanced Opportunities PST as at August 2016.
FINANCIAL PROFESSIONAL USE ONLY
Questions & Answers
Disclaimer
This webinar and information has been prepared and issued by Netwealth Investments Limited (Netwealth), ABN 85 090 569 109, AFSL 230975. It contains factual information and general financial product advice only and has been prepared without taking into account the objectives, financial situation or needs of any individual. The information provided is not intended to be a substitute for professional financial product advice and you should determine its appropriateness having regard to you or your clients particular circumstances. The relevant disclosure document should be obtained from Netwealth and considered before deciding whether to acquire, dispose of, or to continue to hold, an investment in any Netwealth product.While all care has been taken in the preparation of this document (using sources believed to be reliable and accurate), no person, including Netwealth, or any other member of the Netwealth group of companies, accepts responsibility for any loss suffered by any person arising from reliance on this information.
DisclaimerAgendaRussell Investments proud heritageAgendaPortfolio management team accountable for performance outcomesAgendaHow we investMOVING FROM OBJECTIVES TO REPEATABLE OUTCOMESSlide Number 8Manage // Dynamic management critical for successManage // Dynamic management through Fed hikeDownside equity risk protection, adding more growth assets in mid-Q1Manage // Dynamic management through Brexit Downside limitation and upside participation in a high volatility worldAgendaRussell Investments Multi-Asset Funds Class A Absolute net returns & peer-relative quartiles to 30 June 2016AgendaBond outlook Low Return, problematic defenseEquities outlook Low Return, problematic offenceRussell Investments outlook A Low Return, High Volatility worldRussell Investments - multi-asset positioningAUGUST 2016Slide Number 19GSS Webinar slides - netwealth filler - front.pdfValueInvesting 101How, what & whenHousekeepingDisclaimerMeet todays speakerAugust 2016Slide Number 6Slide Number 7Slide Number 8Slide Number 9Are you gambling on up or down, or investing in a business?Slide Number 11Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 16Slide Number 17Slide Number 18Low interest rates have made millionaires feel poorSlide Number 20Thrown basic investing in the binSlide Number 22Slide Number 23Slide Number 24Slide Number 25Slide Number 26THE WORLD HAS CHANGEDSlide Number 28Slide Number 29Slide Number 30Slide Number 31Slide Number 32Slide Number 33Slide Number 34Slide Number 35Slide Number 36Slide Number 37Slide Number 38Communication and EducationSlide Number 40August 2016Slide Number 42Slide Number 43Disclaimer
GSS Webinar slides - netwealth filler - back.pdfValueInvesting 101How, what & whenHousekeepingDisclaimerMeet todays speakerAugust 2016Slide Number 6Slide Number 7Slide Number 8Slide Number 9Are you gambling on up or down, or investing in a business?Slide Number 11Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 16Slide Number 17Slide Number 18Low interest rates have made millionaires feel poorSlide Number 20Thrown basic investing in the binSlide Number 22Slide Number 23Slide Number 24Slide Number 25Slide Number 26THE WORLD HAS CHANGEDSlide Number 28Slide Number 29Slide Number 30Slide Number 31Slide Number 32Slide Number 33Slide Number 34Slide Number 35Slide Number 36Slide Number 37Slide Number 38Communication and EducationSlide Number 40August 2016Slide Number 42Slide Number 43Disclaimer