Saxe Coburg Limited

07/10/2026

Our September Market Update is out! The headlines said shares barely moved. The reality was different: 75% of US stocks fell last month, and a few big AI names masked the weakness.

We also look at why interest rates and bond yields are rising around the world, and what the early stress in Australian private credit means for investors.

👉 Read the full update here: https://saxecoburg.co.nz/monthly-report-september-2026/

Questions about your own portfolio? Get in touch: https://saxecoburg.co.nz/contact-us/

25/09/2026

Past performance matters – but not in the way you think.

It’s one of the first things we look at when comparing investment managers: who has performed best?

But recent performance can tell a very different story from long-term consistency.

Research from S&P Dow Jones Indices found that top-performing funds often struggle to remain at the top over time.

So how should investors assess past performance?

In our latest Investment Insight, we look beyond the headline one-, three- and five-year numbers, exploring rolling returns, best and worst periods, volatility and exposure to equity-market movements.

Read the full insight below to find out what the numbers really tell us.
https://saxecoburg.co.nz/past-performance-matters-but-not-in-the-way-you-think/

04/09/2026

Bond vigilantes are back, and governments are taking notice.

US government debt has passed $40 trillion, while rising inflation and borrowing costs are putting government finances firmly back in the spotlight.

In our August Monthly Market Report, we look at what’s driving bond yields higher and what the return of the “bond vigilantes” means for governments' finances.

👉 Read the full update here: https://saxecoburg.co.nz/monthly-report-august-2026/

26/08/2026

Would you rather your investment manager follow the market, or have the courage to disagree with it?

AI and technology stocks are driving much of the recent strength in global markets. Managers who didn't own the big winners have fallen behind, and the temptation is to buy what's going up and close the gap.

But if an active manager simply follows the index, it becomes much harder to deliver the outperformance investors chose them for in the first place.

Our latest Investment Insight consider two very different responses to this: Fundsmith, which has recently changed its approach, and GCQ, which is sticking with its investment philosophy.

Successful active investing isn't just about being right, it's about having the conviction to stay the course when you're temporarily wrong.

Read the full article: 'The active manager's dilemma: Hug the benchmark or hold your nerve'
https://saxecoburg.co.nz/the-active-managers-dilemma-hug-the-benchmark-or-hold-your-nerve/

04/08/2026

July was a reminder that there's often much more happening beneath the surface of financial markets than the headline numbers suggest.

Our latest Market Report explores the dramatic unwinding of a high-profile AI investment fund and what it teaches us about leverage, volatility, and the importance of disciplined investing.

👉 Read the full update here: https://saxecoburg.co.nz/monthly-report-july-2026/

27/07/2026

Here's a question we ask constantly on our clients' behalf: does a manager's track record reflect genuine skill, or just good timing?

It's a bigger question than it sounds. Not all "alternative" investments are alike... some are built to protect capital, others carry real risk and leverage. The label alone doesn't tell you much.

Our latest article looks at why manager selection, not just the category an investment sits in, is often what really drives returns. Check out the article, then get in touch to find out more.

Read the full article → https://saxecoburg.co.nz/asset-allocation-or-manager-allocation/

08/07/2026

The headlines suggested a relatively quiet month for global markets, but the real story was happening beneath the surface.

From a pullback in AI-related stocks and record capital raisings to falling oil and commodity prices, June delivered plenty of developments that investors should understand.

Our latest Market Report covers these key events. Have a read and, if you'd like to discuss how current market conditions relate to your own investment strategy, we'd be happy to help.

👉 Read the full update here: https://saxecoburg.co.nz/monthly-report-june-2026/

Headline Markets mask a more volatile month Global equities were slightly weaker in June with the MSCI World and S&P 500 Indices falling 0.7% and 1.0% respectively, while US small cap stocks gained 3.7% indicating renewed interest outside mega-cap tech. These relatively small moves belied some wild....

25/06/2026

AI is changing the investment landscape, but what does that mean for investors?

In our latest Insight, we look at two respected fund managers with very different approaches.

One sees AI as a powerful growth opportunity. The other focuses on protecting capital and avoiding overpaying for uncertain outcomes.

Their views offer valuable lessons for investors navigating today's markets.

Read the full article and discover why successful investing isn't always about choosing growth or value — it's about understanding both.
https://saxecoburg.co.nz/growth-and-value-in-an-ai-led-market-comparing-two-investment-approaches-in-a-world-of-uncertainty/

28/05/2026

We often think of “conservative” investing as being safe.

But is it really?

A 60/40 portfolio is commonly seen as balanced and conservative, yet history shows that in tough markets, these portfolios can experience significant losses.

Traditional balanced portfolios can feel safe in good times, but how will they behave when markets turn?

That’s why we focus on understanding risk as the potential for loss, not just volatility, and why diversification and skilled management matter more than labels.

Perceived safety and real resilience are not always the same thing.

Check out our latest article 'When conservative isn’t conservative: Why perceived safety and actual portfolio resilience are often very different' at the link below.

https://saxecoburg.co.nz/when-conservative-isnt-conservative-why-perceived-safety-and-actual-portfolio-resilience-are-often-very-different/

06/05/2026

Passive investing is often seen as simple, just track the market and leave it alone.

But is it really that passive?

In our latest article, we look at how indexes and ETFs actually work behind the scenes, and why investors today are often making far more active choices than they realise.

Worth a read if you’ve ever assumed “passive” means hands-off.

Read more here: https://saxecoburg.co.nz/the-growth-of-passive-investing-and-why-it-isnt-always-passive/