Good Afternoon,

We hope 2015 has been good to you so far!

In this edition of the Critique Newsletter we have an Article from MLC’s Investment Management team outlining how the new European Central Bank quantitative easing package is very large in relative terms compared to their peers. The end result of the move may be limited in helping restore growth to the region but it appears to be a move in the right direction.

The second Article is the house view of Macquarie Investment Management on the outlook for 2015 for economic conditions and the major asset classes such as Australian, International & Asian Equities, Fixed Income and Infrastructure.

These articles are food for thought given the recent ramp up in performance in the Australian equity market since the RBA interest rate cut and the continuation of strong growth seen in 2014 for International Equities, particularly the US market on an unhedged basis to the Australian dollar.

Please don’t hesitate to contact our office with any queries or if you require any assistance.

Cheers

Robert