With appreciation to PortfolioMetrix SOUTH AFRICAN PORTFOLIOS EDITION December 2021 Asset Class Returns Source: Bloomberg and PortfolioMetrix The fourth quarter saw extremely strong performance from western developed equity markets on the back of expectation-beating corporate profit upgrades, with the US leading the way. Asian equities and emerging markets struggled, dragged down by China which continued […]
With appreciation to PortfolioMetrix SOUTH AFRICAN PORTFOLIOS EDITION SEPTEMBER 2021 Asset Class Returns Towards the end of the third quarter of 2021, global equities saw their first sell-off in about a year as fears emerged that China’s heavily indebted property developer Evergrande Group might lead to the collapse of China’s systemically important real-estate market, as […]
With appreciation to PortfolioMetrix SOUTH AFRICAN PORTFOLIOS EDITION JUNE 2021 Asset Class Returns The second quarter of 2021 was notable in that markets began to shift away from the ‘reflation’ narrative of future high expected growth and high expected inflation. This narrative had been prevalent since the announcement of successful vaccine trials in November 2020 […]
With appreciation to PortfolioMetrix SOUTH AFRICAN PORTFOLIOS EDITION MARCH 2021 Asset Class Returns After last year’s false start and paralysing pandemic, the prospects for a sustained reopening of economies and evidence of a tangible global recovery have begun to unfold in the first quarter of 2021. The resultant improving macroeconomic landscape, ballooning stimulus packages and […]
With appreciation to PortfolioMetrix Asset Class Returns 2020 was a year of unprecedented events that would shape a year like no other. Thinking back to the backdrop coming into this same period a year ago – there was much optimism, for the global economy and markets alike. The US-China phase one trade deal had been […]
As we head into the last quarter of what can only be described as a challenging 2020, the divergence between “Wall Street and Main Street” grows ever wider. Global equity returns posted another quarter of strong gains whilst global economies were plunged into deep recession. The idea behind investment markets pricing in future expectations supposedly […]
After the tumultuous coronavirus-driven crash of Q1 2020, the second quarter provided just as much excitement with the pendulum swinging back strongly. From the precipitous declines in excess of 20% in the first quarter, equity and commodity markets rallied sharply and recovered much of these losses. What became evident is that equity investors are feeling […]
Q1 2020 is a quarter that no-one across the globe will ever forget, even though most of us would certainly like to. Almost all asset classes (in local currency terms) plunged into a very sharp crash in March, the speed of which took most investors by surprise. One pivotal and unprecedented driver; a black swan […]
