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August 2017 – monthly fund commentary

August 2017 – monthly fund commentary

Equity markets finished August lower. Global equity index MSCI World lost 0,9%, European stock lost the most (-1,22%) while Nordic countries were the only positive performers.   Even though goepolitical risk are rising again stock are quite stable – volatility...
July 2017 – monthly fund commentary

July 2017 – monthly fund commentary

Equity markets around the world finished the month of July in the red. Index MSCI World (measured in EUR) lost 1,01%, while Europe was the only market with positive returns. Euro has gained a lot in the past few months, partially because of expectations that ECB will...
June 2017 – monthly fund commentary

June 2017 – monthly fund commentary

In the previous few months/quarters most of the inflows in the market went to index funds and ETF. Passive investment now hold more than a third of all invested assets in the stock market and there seems to be no stopping of the trend. This has made sound investment...
May 2017 – monthly fund commentary

May 2017 – monthly fund commentary

Global stock markets closed lower in May. Stocks lost 1,5% on average, Asian stock exchanges fell the most (-4,8%), European stocks were best performers (+0,8%). High price increases can be again seen in the most overvalued parts of the stock market. Investors find...
April 2017 – monthly fund commentary

April 2017 – monthly fund commentary

Stock markets around the world finished April in negative teritory. Index MSCI ACWI lost 0.4%, while stocks rose in Europe, where they gained 1,3% on average. Strong overvaluation is still present in the US market where valuation based on some metrics (P/S ratios) is...
March 2017 – monthly fund commentary

March 2017 – monthly fund commentary

Global stock markets finished the month mixed. Differences in returns were quite large – EU stocks gained more than 5%, US and Asian stocks lost a bit more than a half percent. Without EU stock globaly closed the month in negative teritorry (-0,66%) as measured...
February 2017 – monthly fund commentary

February 2017 – monthly fund commentary

Stock markets around the world gained 2,9% in February. Strong uptrend which started last year continued – US markets were the best performer in past month and also the past year when they gained more than 25%. Global macro data is still positive, most of the...
January 2017 – monthly fund commentary

January 2017 – monthly fund commentary

Stock markets around the world continued their uptrend in January. On average stocks gained 0,21%, best performing region was Asia, worst performers were European and US stocks. In the begining of the year US stock reached record levels and thus becamo even more...