NHS Sicav – MC Bolero Global Allocation Fund– Fact sheet – October 2016

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Despite a relatively positive start of the earnings season, world equities traded lower in October (MSCI AC World –1.77% in dollar terms) as slightly better growth and inflation/data expectations together with less clarity from central banks pushed bond yields higher, which triggered a major sector rotation within equities. Financials, metals and mining reversed their post […]

US presidential elections – Are markets bracing for a major shock in November?

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Polls giving Trump slight lead A Donald Trump presidency is no longer as “unthinkable” as some had initially believed. The populism that appears to have underpinned the UK’s Brexit result is a global phenomenon and one that Donald Trump has successfully exploited, by presenting himself as the anti-politician. The disclosure by Director James Comey that […]

NHS Sicav – MC Bolero Global Allocation Fund– Fact sheet – September 2016

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September meetings of the quatuor Central banks tend to suggest that policymakers realize that negative interest rate policies are not an optimal solution. The European Central Bank disappointed with no indications for additional monetary stimulus; the Bank of Japan introduced a yield curve control policy instead of specific amounts of asset purchases, expecting to guide […]

NHS Sicav – MC Bolero Global Allocation Fund– Fact sheet – August 2016

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 Markets were calmer this summer than June’s Brexit vote might have suggested (MSCI AC World +0.12% in dollar terms).. Volatility declined, trading volume fell and equity markets responded positively to a combination of improving outlook for global growth, better than expected corporate results and a favourable monetary backdrop. The Bank of England cut interest rates […]

NHS Sicav – MC Bolero Global Allocation Fund– Fact sheet – July 2016

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Equities extended their recovery from the prior month Brexit shock (MSCI AC World +4.2%), supported by strong US employment, better than expected corporate results while central banks globally signalled a willingness to remain accommodative in the wake of the UK vote. Equity market gains were broad based across regions, with sector gains led by Technology, […]

NHS Sicav – MC Bolero Global Allocation Fund– Fact sheet – June 2016

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 June has been a challenging month with the Brexit referendum being the central focus. Defying many opinion polls and betting markets, the British have voted to leave the European Union by 52% to 48%. The initial sharp response of currency and equity markets suggested that the UK vote was a clear surprise for many observers […]

NHS Sicav – MC Bolero Global allocation – factsheet May 2016

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 Global equity markets posted mixed performance in May (MSCI AC World -0.19% in dollar terms). The American and European markets reacted positively to surprisingly hawkish FOMC minutes showing that most officials considered it appropriate to tighten policy in June if data continued to improve. The US economy appeared to have regained momentum early in Q2 […]