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Monthly Update: April 2019

13 May 2019
April was a strong month for global equity, with improving economic data and dovish central bank comments supporting appetite for higher risk. US equities hit record highs at the end of the month.   The current economic slowdown is turning out to be a lot milder than expected, with figures in the US (GDP, jobs) and the Eurozone (GDP) suggesting moderate growth and no risk of recession.   Quarterly company results being published are also holding up well, across all regions and s...

Monthly Update: March 2019

15 April 2019
MARCH HIGHLIGHTS   Economic data continues to point to a slowing global economy, driving long term rates back into negative territory in the Eurozone.   Following the ECB in February, the Fed has now also adopted a decidedly more dovish tilt, with no more rate rises expected for the remainder of the year.   These were counteracting forces for global equities but, for the time being, the latter got the upper hand and most regional indices ended the month wit...

Monthly Update: February 2019

15 March 2019
After another strong month global equities have now regained all of 2018's losses, and then some... At the end of February the MSCI World Index stood 4.7% higher than at the beginning of 2018.   Most heard reason for investors' optimism is lessened trade tensions between the US and China, averting what could otherwise quickly escalate into a full-blown trade war.   Our funds continued to perform well, with positive absolute returns for the SIF and Balance, and outpe...