Equity markets had made a strong start to the year, as a resilient global growth picture had helped equity markets to enter the quarter in bull market territory (up 20% from their lows) amid low volatility.
Over last quarter, we saw a familiar rise in summer volatility which led both stocks and bonds to decline over the quarter. Returns on global stocks still remain positive year to date but bond markets have now moved into negative territory.
This is a financial promotion and is not investment advice. Past performance is not a guide to future performance. The value of investments and any income from them may go down as well as up and is not guaranteed. Investors may not get back the amount invested. Portfolio characteristics and holdings are subject to change without notice. The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.