Equity investors were less optimistic in February than they were in January. The MSCI global equity index fell by 3.0% . Emerging market equities noted the biggest loss at 6.5%, followed by the Pacific region with a drop of 5.0%. In the US, the equity market was down by 2.6%. Only Europe kept its feet dry thanks to a gain of 1.9%. Since the low in September, European equities have climbed twice as fast as US equities.
Please see Kempen’s Asset Allocation Outlook for March. The highlights this month are:
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested. Past performance provides no guarantee for the future.
There’s a saying in Dutch, Kom verder, it means many things and it’s our business philosophy. It captures the way we work with clients but also the way we steer our investee companies to deliver shareholder value through active engagement.