The All Ordinaries Index (ASX: XAO) is currently up 0.5% in afternoon trading.

The All Ords has broadly shrugged off the shockingly high inflation data reported overnight by the United States, with prices in the world’s top economy rising at the fastest pace in 40 years.

While that 0.5% gain is nothing to complain about, these two ASX All Ords mining shares are smashing those returns today.

2 ASX mining shares charging higher

First, we have Talga Group Ltd (ASX: TLG).

The technology minerals company is primarily focused on graphite exploration and development in Sweden.

Talga shares closed yesterday trading for $1.10 and are currently trading for $1.16, up 5.9%.

The latest price-sensitive news from the ASX mining share was released last Wednesday, when it reported intersecting high-grade graphite zones at its Swedish Vittangi graphite project during the initial drill campaign.

At the current share price, Talga has a market cap of $351 million.

The second ASX All Ords mining share rocketing higher today is Tietto Minerals Ltd (ASX: TIE). Tietto is primarily focused on gold exploration and production in West Africa.

The company’s shares closed yesterday at 37 cents and are currently trading for 41 cents, up 11.0%.

Investors look to be bidding up the ASX mining share after it provided a construction update for its 3.45-million-ounce Abujar Gold Project, located in Côte d’Ivoire.

The company said that construction is on schedule and budget, and it expects the first gold pour to occur in the December quarter. Concrete works at the project are now 80% complete, with the bulk of the remaining work set to be finished in July.

Talga and Tietto share price snapshots

Despite today’s lift, both ASX mining shares remain down for the calendar year. Year-to-date, the Tietto share price is down 17% while the Talga share price is down 32%.

Longer-term, both miners have delivered strong returns.

Over the past five years, the Tietto share price is up 76% while the Talga share price has gained 69%.

That compares to an 18% five-year gain for the All Ords.

The post 2 ASX All Ords mining shares smashing the benchmark on Thursday appeared first on The Motley Fool Australia.

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• Why Domino’s, EML, Talga, and Woolworths shares are pushing higher

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has defied the selling on Wall Street and pushed higher. At the time of writing, the benchmark index is up 0.45% to 6,652.2 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher:

Data#3 Limited (ASX: DTL)

The Data#3 share price is up almost 11% to $5.36. Investors have been buying this business technology solutions company’s shares following the release of a trading update. That update reveals that Data#3 expects to report a full-year profit before tax of $44 million in FY 2022. This is up 19% year on year.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price is up 5.5% to $13.14. This follows the release of a trading update which revealed that the investment platform provider achieved annual net inflows of $13 billion for FY 2022. This was its highest ever annual net inflows and an increase of 32.4% on last year’s numbers. This led to Netwealth’s funds under administration (FUA) reaching $55.7 billion at the end of June.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is up 6.5% to $4.28. Investors have been buying New Hope and other coal shares this week after coal prices continued to rise. In addition, the company’s shares were given a boost from a broker note out of Credit Suisse on Wednesday. Its analysts have retained their outperform rating and $4.90 price target on its shares.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up almost 3% to $2.43. After a poor start to the day, this lithium share is rebounding. Although Pilbara Minerals reported its first decline in the price received from a BMX lithium auction, it is still commanding a price that is materially higher than 12 months ago.

The post Why Data#3, Netwealth, New Hope, and Pilbara Minerals shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Here’s why ASX 200 coal shares are firing up today
• Netwealth share price up 6% as annual net inflows reach new record
• ‘Strong FY22 performance’: Here’s why the Data#3 share price just rocketed 14%
• The best and worst ASX All Ords mining shares of FY22
• Pilbara Minerals share price drops on latest BMX lithium auction update

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Netwealth. The Motley Fool Australia has positions in and has recommended Netwealth. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Overall, it’s been a rather happy day for ASX shares so far this Thursday. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is gaining a robust 0.4% and is back over 6,640 points.

But that goodwill hasn’t extended to all ASX shares. In fact, there are now three ASX 200 shares that have already hit new 52-week lows today. Let’s check them out.

3 ASX 200 shares hitting new 52-week lows today

Sandfire Resources Ltd (ASX: SFR)

Our first ASX 200 share to check out is copper miner Sandfire Resources. Sandfire shares are down 0.77% at the time of writing to $3.86 a share. But earlier today, this miner dropped as low as $3.79. That’s this company’s new 52-week low.

Sandfire shares are now down 43% in 2022 so far. This appears to be the result of copper prices sinking to near-two-year lows in recent weeks, which is obviously bad news for Sandfire.

Pendal Group Ltd (ASX: PDL)

Our next share worth taking a look at is Pendal Group. This fund manager has had a wild few months. It was over $5 a share at the start of June but has since dipped to the new 52-week low of $4 that we saw earlier this morning. This is all despite the absence of any major news or developments out of the company for some time.

Pendal even impressed investors when its interim results were released back in May, which saw the company post a 59% surge in underlying profits. So clearly investors have deduced that things are less rosy for Pendal today. At the time of writing, the Pendal share price is down 2.27% at $4.10.

Bega Cheese Ltd (ASX: BGA)

Our third ASX 200 share today is none other than Bega Cheese. This consumer staples company has had a clanger today, with the Bega Cheese share price down a nasty 7.61% at the time of writing at $3.28 a share.

Earlier this morning, Bega dipped as low as $3.20, which is now the company’s new 52-week low. In this case, it seems the trading update the company released this morning is responsible for this latest low.

As we covered at the time, Bega announced that its farm gate milk prices in Victoria have jumped 30% over FY 2022’s prices, which is more than the rise of 15-20% that it previously expected. Investors obviously haven’t taken kindly to this news, and have evidently punished Bega shares accordingly.

The post Here are 3 ASX 200 shares tumbling to new 52-week lows today appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Telstra completes acquisition, Lake Resources and Bega Cheese sink
• Bega share price slides as milk prices skim away
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Galileo Mining Ltd (ASX: GAL) share price is soaring in afternoon trade on Thursday.

At the time of writing, shares in the miner are trading 9% higher at $1.27 apiece, despite no market-sensitive updates.

In wider market moves, the S&P/ASX 300 Metals & Mining index (ASX: XMM) is also strengthening and is up 2% on the day.

What’s up with the Galileo Mining share price?

While mining stocks are gaining, it is noteworthy that Galileo posted a change in substantial holding today indicating a key investor had upped their stake.

Successful Western Australian mining investor Mark Creasy, and relevant interests, increased the equity stake in Galileo to more than 26.21%. Previously, Creasy held a 24.82% voting power in Galileo.

Creasy is a mining entrepreneur who has a long and successful track record of investing in prospective and wildcat mining companies.

Shares were purchased on market and via a placement at $1.20 per share through his investment vehicles Yandal Investments Pty Ltd, Australian Gold Resources Pty Ltd, and Dunstan Holdings Pty Ltd.

History tells us that investment from Creasy is a vote of approval in many ways, with many names in the ASX mining space catching a bid on the back of his interest.

Back in May, investors rallied Galileo shares on the back of Creasy’s first investment when he scaled up his position by around 3 million shares.

As of today’s rebalance, he now owns more than 51 million Galileo shares (up from roughly 44 million), at an unknown average share price.

What else is happening with Galileo Mining?

The move likely follows on from the mining company’s update yesterday in which it advised all 11 holes at its second drilling program at the Norseman Project are now complete.

As reported by my Foolish colleague Bernd yesterday, “all 11 holes intersected disseminated sulphide mineralisation similar to what was intersected in its first round of drilling”.

“Assays show the sulphide layer to be associated with palladium, platinum, gold, rhodium, nickel and copper metal.”

Creasy made a similar move back in May when Galileo first made the discovery of these resources at the Norseman Project.

In the last 12 months, the Galileo share price has gained almost 300%. It is also up around 450% this year to date.

The post Why the Galileo Mining share price is charging 9% higher today appeared first on The Motley Fool Australia.

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More reading

• Why Galileo Mining, Platinum, Sezzle, and Woodside shares are dropping
• Up 430% in 2022, Galileo share price wobbles today despite strong drill results
• Why is the Galileo Mining share price galloping 17% higher today?
• What’s behind the frozen Galileo Mining share price today?
• Why Beach, BHP, Bubs, and Galileo Mining shares are sinking

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) coal shares are running hot today … again.

At the time of writing, the ASX 200 is shrugging off sky-high inflation figures from the United States for a gain of 0.3%.

But ASX 200 coal shares are leaving the benchmark’s gains in the dust.

The Whitehaven Coal Ltd (ASX: WHC) share price is up 6.9% in early afternoon trade. Whitehaven shares closed yesterday at $5.39 and are currently trading for $5.76 apiece.

Rival ASX 200 coal share New Hope Corporation Limited (ASX: NHC) is also charging 7.0% higher. New Hope closed yesterday trading for $4.02 per share and is currently at $4.30.

So, what’s firing up investor interest in the coal sector?

Coal prices back near record highs

The fortunes of ASX 200 coal shares, and the investors who hold them, are closely tied to the price of the ‘other’ black gold they dig from the ground.

And coal prices, already running at historic highs, have again tipped back to record territory.

According to data from Trading Economics, Newcastle coal futures have rocketed back above US$430 per tonne. That’s within a whisker of the previous all-time highs set back in the first week of March this year.

Energy prices were already moving higher heading into 2022 as the world began to shake off COVID-19 closures and demand rebounded amid limited new supplies.

Then oil and coal-rich Russia invaded Ukraine, and the resulting sanctions on Russian exports saw energy prices rocket as European and Asian nations looked elsewhere for their energy needs.

How have ASX 200 coal shares performed amid rocketing prices?

With a relative dearth of recent investments in coal exploration and new projects, surging demand has seen the price for thermal coal rocket from US$154 on 4 January to the US$430 recorded in futures contracts today.

As you’d expect, ASX 200 coal shares have been major beneficiaries of soaring prices for their product.

Since the opening bell on 4 January, the New Hope share price has surged 86%.

Whitehaven coal has fared even better, with shares up 109% year-to-date.

And this in a year that’s seen the ASX 200 fall by 12%.

The post Here’s why ASX 200 coal shares are firing up today appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Telstra completes acquisition, Lake Resources and Bega Cheese sink
• Here are the top 10 ASX shares today
• Why Block, Megaport, Navigator Global, and Whitehaven Coal shares are rising
• These were the 5 top performing ASX energy shares of FY22
• Why did ASX coal shares leap today?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Australian Ethical Investment Ltd (ASX: AEF) share price is seesawing today following the company’s funds under management (FUM) update.

At market open, the fund manager’s shares were down almost 3% to $5.04. However, since then, its shares have rebounded to trade at $5.27, up 1.74%.

Australian Ethical delivers FUM and earnings guidance update

Investors are sending the Australian Ethical share price higher after digesting the company’s FUM and merger update with Christian Super.

In its release, Australian Ethical reported positive net flows of $102 million. This included a $150 million redemption by an institutional client that is internalising management of its sustainable option.

When excluding the institutional redemption, net flows came to $252 million for the June quarter.

Management noted that the performance was underpinned by superannuation contributions which recorded net flows of $200 million. However, managed funds experienced net flows of $50 million on the back of cautious market sentiment, amid volatility.

In total, net flows for FY22 stood at $943 million.

Although, when excluding the institutional portfolio, net flows were $1.14 billion – a 20% increase on FY21.

Overall, FUM at 30 June 2022 fell 9% to $6.2 billion with investment performance impacted by highly volatile investment markets.

Nonetheless, FUM for FY22 is up 2% due to strong net flows which offset the negative investment performance.

In addition to the FUM update, Australian Ethical announced it has signed a successor fund transfer deed with Christian Super. This will see all of Christian Super members, as well as its $1.96 billion of FUM, transferred into Australian Ethical super in late 2022.

Lastly, Australian Ethical noted that its emerging companies fund will pay a performance fee of $400,000 after outperforming its benchmark.

As such, the FY22 underlying profit after tax (UPAT) guidance range now sits between $10 million to $10.4 million.

Australian Ethical share price snapshot

Since the start of 2022, the Australian Ethical share price has continued to tread downwards posting a loss of 62%.

Its shares hit a 52-week low of $4.34 last month and have moved sideways since.

Australian Ethical commands a market capitalisation of roughly $582.17 million.

The post Australian Ethical shares wobble amid 9% fall in funds under management appeared first on The Motley Fool Australia.

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More reading

• Is it time to go bargain hunting for ASX shares?
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Australian Ethical Investment Ltd. The Motley Fool Australia has recommended Australian Ethical Investment Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Arizona Lithium Ltd (ASX: AZL) share price has been a strong performer on Thursday.

In afternoon trade, the lithium explorer’s shares are up 4% to 8.8 cents.

Why is the Arizona Lithium share price storming higher?

Investors have been bidding the Arizona Lithium share price higher on Thursday following the release of a drilling update from the company’s Lordsburg Lithium Project in South West New Mexico.

According to the release, passive seismics and titan magnetotelluric electromagnetic surveys have successfully identified a north trending basin containing targets interpreted to represent potential lithium mineralised brines.

Three drill holes totalling 1,850m have now been planned to test these targets. Management will shortly make an application with the Las Cruces Bureau of Land Management (BLM) for drilling approval.

The company believes it has a first mover opportunity to explore a playa lake system for lithium that is similar in geology and geography to Clayton Valley, Nevada. This is the only current lithium producing region in the United States.

‘Outstanding opportunity’

Arizona Lithium’s Managing Director, Paul Lloyd, was pleased with the results. He commented:

The encouraging results from the recently completed geophysical surveys at the Lordsburg Lithium Brine Project in New Mexico identifying three priority drill hole locations, have provided the Company with an outstanding opportunity to progress another project concurrently with the sustainable development of the Big Sandy Lithium Project in Arizona.

The close proximity to renewable energy sources, direct access to the interstate highway system and sampled lithium mineralisation at surface, have identified this project to have the potential as a timely contributor to growing lithium supply requirements in the USA.

The post ‘Outstanding opportunity’ energises the Arizona Lithium share price appeared first on The Motley Fool Australia.

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More reading

• 2 ASX 200 mining shares performing today amid a volatile gold price
• ‘Strong FY22 performance’: Here’s why the Data#3 share price just rocketed 14%
• ASX 200 midday update: Telstra completes acquisition, Lake Resources and Bega Cheese sink
• Neometals share price higher on lithium battery recycling update
• Own ASX travel shares? Here’s the outlook for FY23

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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These two ASX 200 gold shares are slightly in the green today amid a volatile gold price.

The Evolution Mining Ltd (ASX: EVN) share price is pushing 3.03% higher today. Meanwhile, the Northern Star Resources Ltd (ASX: NST) share price is rising 0.51%.

Let’s take a look at what is happening to the gold price.

Gold price rebounds and retreats

The Gold price rebounded strongly overnight to more than US$1940 per ounce before retreating. Trading economics data shows gold jumped to US$1744.78 per ounce from US$1709.14 before retreating back. Gold is now priced at US$1728.37 a tonne at the time of writing.

Spot gold recovered from its lowest level since August 2021, according to a Reuters report published on CNBC.

This followed news out of the US that inflation jumped 9.1% in June. Gold can be considered an inflation hedge, however, rate rises can also negatively impact the gold price.

In a note to clients cited by kito, CPM Group analysts said:

While in theory gold prices should benefit from higher inflation numbers, the reality is that these higher inflation figures suggest that the Fed is likely to become even more aggressive in rasing rates to quell strong inflation.

This is resulting in a stronger U.S. dollar versus other major currencies as well as placing a lid on future inflation expectations.

Share price snapshot

The Evolution share price has lost 51% in the past year, while it is falling 41% year to date.

Meanwhile, Northern Star shares have lost more than 34% in a year and 26% year to date.

In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen nearly 17% in a year and 11% year to date.

The post 2 ASX 200 mining shares performing today amid a volatile gold price appeared first on The Motley Fool Australia.

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More reading

• The best and worst ASX All Ords mining shares of FY22
• Why has the Newcrest share price lost its shine of late?
• 5 things to watch on the ASX 200 on Thursday
• What’s the outlook for Northern Star share price in FY23?
• Why did the Evolution share price crash 47% in FY22?

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Data#3 Limited (ASX: DTL) share price is soaring today after the company provided a positive update to the ASX.

At the time of writing, the business technology solutions company’s shares are up 8.68% to $5.26 apiece. However, earlier in the day, its share price hit a near two-month high of $5.50 — a gain of 13.64% on its previous close.

Data#3 expects to deliver strong pre-tax profit growth

Investors are driving the Data#3 share price higher after the company announced it expects to “deliver a strong FY22 performance”.

Data#3 advised consolidated net profit before tax is forecast to come in at approximately $44 million for the financial year ending 30 June 2022. This represents an increase of more than 19% on the prior year’s $36.9 million.

Management noted that extensive product delays due to ongoing supply chain constraints impacted the FY22 result. It said: “This has coincided with the spike in demand traditionally experienced during the fourth quarter, resulting in an inflated product backorder at year-end.”

Subsequently, the pre-tax profit with this backorder is estimated to be a minimum of $6 million. This is expected to be realised in the first half of FY23, and is double the backorder at the end of FY21.

It is also anticipated the global computer chip shortage will continue into the new financial year.

Data#3 said it will release its audited full-year results for the 2022 financial year on 18 August.

In addition, the board will opt to maintain its dividend payout ratio handed to shareholders, as is has done in previous years.

Data#3 share price snapshot

A choppy macro environment has led the Data#3 share price to travel in circles over the past 12 months.

Its shares are currently down more than 5% for the period, despite today’s gains.

Notably, the company’s shares touched a 52-week low of $4.30 in mid-June following extreme volatility on the ASX.

Based on its current price, Data#3 presides a market capitalisation of roughly $737.79 million.

The post ‘Strong FY22 performance’: Here’s why the Data#3 share price just rocketed 14% appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Telstra completes acquisition, Lake Resources and Bega Cheese sink
• Neometals share price higher on lithium battery recycling update
• Own ASX travel shares? Here’s the outlook for FY23
• ‘Incorrect’ and ‘inaccurate’: Lake Resources delivers response to shares short-seller
• eBay could be a market-beating moneymaker, but it needs to stay focused

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The new financial year is looking bright for ASX travel shares. Some of the market’s favourites are getting ready to rake in earnings after a disastrous few years for the industry.

And one top broker is also expecting big things from ASX-listed travel stocks despite notable headwinds.

Let’s take a look at what the market might expect from S&P/ASX 200 Index (ASX: XJO) travel giants such as:

• Qantas Airways Limited (ASX: QAN)
• Webjet Limited (ASX: WEB)
• Flight Centre Travel Group Ltd (ASX: FLT)
• Corporate Travel Management Ltd (ASX: CTD).

Broker bullish on ASX travel shares in FY23

Despite outlining numerous risks facing ASX travel shares in FY23, broker Morgans is still expecting strong growth from the sector.

Last week, senior analyst Belinda Moore tipped the time to climb aboard travel shares has arrived, despite the sector taking longer than expected to recover, saying:

Despite travel demand recovering strongly, in recent months the travel sector globally has derated due to concerns about a weak macro outlook. We think share price weakness represents a buying opportunity and see the quarterly reporting season in the US and Europe during July and then the Australian reporting season in August as a catalyst for a rerating.

Though, the broker noted numerous factors might “impact the extent of the earnings recovery” this financial year.

These include total transaction values growing faster than volumes due to higher airfares, more domestic travel than higher-margin international travel, limited international airline capacity in Australia and New Zealand, and high fuel prices.                                                        

What are these travel giants expecting from FY23?

Many ASX 200 travel shares have recently returned to profitability, while others can nearly taste the green.

Flight Centre returned to the earnings before interest, tax, depreciation, and amortisation (EBITDA) green in March. The company expects its total transaction revenue to surpass its FY19 levels sometime this financial year when the market’s recovery reaches around 70%.

Meanwhile, Webjet was cash flow positive over the second half of financial year 2022. It expects to be back at pre-COVID booking volumes by the second half of FY23.

On that note, Corporate Travel Management is targeting EBITDA of $265 million when the market fully recovers.

Finally, Qantas is slightly less optimistic for FY23. The airline expects to return to profit this financial year. However, it has also cut domestic capacity in a bid to battle high fuel prices.

The post Own ASX travel shares? Here’s the outlook for FY23 appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX shares today
• Here’s why the Qantas share price is taking off today
• ASX 200 travel shares slide amid travel chaos and cancellations
• How did ASX 200 travel shares go in FY22?
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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