Please click the link below to view Shane Oliver's latest article discussing the importance of starting point valuation for investment returns, and where are we now?

Key points raised are :

• Starting point valuations - like yields are price to earnings multiples - are a key driver of potential medium term investment returns
• For growth assets it's often more complicated with, for example, the level of interest rates playing a big role
• As present valuation starting points for term deposits and bonds suggest low medium-term returns.
• For shares they suggest better but still constrained returns.