When are market returns on one side of the earth not market returns on the other
Pendal Group
When are market returns on one side of the earth not market returns on the other? July's close was a perfect example. With little local news, Australian markets followed the S&P500's flat close on 30 July. But once Australian markets closed and investors ruled off their July books, the US market ran into some headwinds as labour data triggered rate hike concerns. Many fund managers will be affected by the return differentials on the different sides of the planet. Rio Tinto for example is listed both in the UK and Australia. In Australia, the books were ruled off with shares finishing 11.9% for the month. However, northern market activity saw the UK-listed shares finish 2.8% under the Australian result. It may be artificial, but, as they say in sport, it's on the scoreboard. Where else was the market disrupted? Click here for more from Senior Portfolio Manager Martyn Wild (VIEW LINK)
At Pendal Group, our vision is to combine the benefits of our strong institutional foundation and performance-focused culture with a multi-boutique specialist investment approach. We believe this approach firmly positions Pendal to achieve...
At Pendal Group, our vision is to combine the benefits of our strong institutional foundation and performance-focused culture with a multi-boutique specialist investment approach. We believe this approach firmly positions Pendal to achieve...