Mandate Memo - 1st April 2026
Markets are no joke, even on April Fools
Fund Status:
Bal Start: $978,779.40
Bought: CBO, HMC, JDO
Sold: None
Bal End: $995,547
Cash: $459,855.71
Market Commentary
The US finished March on a tear, with the Nasdaq and the S&P 500 rising overnight. This “risk-on” move was sparked by POTUS suggesting military operations in the Middle East could wind down within weeks, even if a formal deal on the Strait of Hormuz isn’t in the cards. Despite the rally, oil remained above $100 meaning energy-induced inflation is at the forefront of investors’ minds. However almost all indices ended the month down.
The ASX 200 came out swinging today, surging 2.2% to close at 8,672 points. The primary catalyst was geopolitical optimism following reports that the US might be looking for an “off-ramp” in the Iran conflict. financials and IT sectors soared while energy stocks were more subdued. The Prime Minister gave a national address regarding fuel conservation, the broader market celebrated the first day of the new quarter with a $60 billion recovery in value.
Portfolio Commentary
High-growth and tech names dominated the session, led by a massive 16.2% surge from HMC Capital, while Zip and Life360 followed with strong double-digit and mid-single-digit gains. Conversely, defensive and large-cap stocks stagnated, with Cobram Estate Olives (CBO) finishing as the day's sole decliner at -0.3%. Took the opportunity to buy more of the stock. Woodside and Coles remained flat despite broader market momentum.
Investment Rationale
Disclaimer: This is a simulated portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.