Crescent Wealth’s leadership is committed to open and transparent communication. As Australia’s only Islamic superannuation fund, our conservative investment principles and ultra-ethical investment enable us to provide a unique perspective as we collectively navigate COVID-19.
Our members are interested and uncertain about what the global economic impact means for their investments, employment and superannuation. Early May was a critical juncture for superannuation funds – the volatility in global equity markets has taken hold, the government’s early release scheme is underway and Australia’s first-quarter unemployment rise evident.
In our second COVID-19 webinar in May, Crescent’ Wealth’s Chief Investment Officer, Jason Hazell and Managing Director, Talal Yassine OAM shared insight into the global market, Crescent Wealth’s response and future outlook.
Since our first Webinar on 26 March, we have seen global markets rebound strongly, global government stimulus and a flattening of the infection curve is many countries including Australia. The future continues to be uncertain and the road to recovery unclear which is reflected in the volatility of the markets which we expect to continue for some time.
Crescent Wealth’s performance
Crescent Wealth has outperformed our peer group across all our three investment options over the last three and six months.
The drivers of this performance is our investment strategy along with close management of the portfolio in the lead up to and during the COVID-19 crisis. Specifically, we perceived the markets to be overvalued late last year and re-balanced accordingly, as a conservative fund we hold higher volumes of cash reserves and we have stuck to our investment strategy – this means we respond not react to the market.
While the outlook continues to be uncertain the recent easing of social isolation restrictions in Australia is a promising sign. It reflects the hard work of the Australian government and community to reduce the risk of infection and cautiously start to get back to normal. There is still a long way to go and we encourage all our members to consider the long term view of their investment, including superannuation and engage with us regarding questions or concerns.
Our focus is on maximising our knowledge and experience of the markets, insight from a range of credible sources and the skills of our investment team to manage and protect the funds. What we do know, is that Australia’s capacity to re-build effectively will come from strategic investment in concrete assets – including health, property, infrastructure, utilities and innovation/technology. And that strategy is at the core of Crescent Wealth’s values and strategy for a long term and sustainable future.
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Talal currently serves as a Non-Executive Director on the Whitlam Institute and Western Sydney University Foundation Council Board. He also serves as Chairman of First Quay Capital and Chairman of the Australian Arab Dialogue. Talal has also served on the Australia Post, Board of Sydney Ports, Macquarie University and the Western Sydney Area Health Service and the Chairman of the Department of Foreign Affairs and Trade; Council of Australia Arab Relations. In an executive capacity, Talal spent 10 years at PwC as a director and strategist, and at investment firm Babcock & Brown in the Corporate Finance Group and later in the Technical Real Estate Division. Later Talal held leadership positions in Better Place Australia, Platinum Hearing and Star Transport Australia.