Should Investors Trim Gold Exposure, Given the Rally in Prices?
Yes, investors who have made tactical bets in gold should consider scaling back their positions and locking in some gains.
Real Assets
Market Matters: July 2020
Global risk assets advanced in July, extending the prolonged market rally that began in late March.
US Manager Universe Statistics: Second Quarter 2020
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Review of Market Performance: Fiscal Year 2020
While US-China tensions began to slowly de-escalate in the the first half of FY 2020, the arrival of the COVID-19 pandemic in the second half upended the investment landscape. Gold and US Treasuries were the big winners as investors rushed into safe havens, while central banks cut rates and expanded QE programs. Equities have mounted a remarkable comeback, while real assets generally remain quite depressed. This chart book presents returns and other market metrics for fiscal year 2020.
Market Matters: June 2020
Risk assets broadly rallied in second quarter, sharply reversing course after experiencing extraordinary market turmoil in February and March.
Market Matters: May 2020
Risk assets advanced again in May, building on April’s strong price momentum.
Real Asset Dynamics: PE Energy
It has been difficult to find a more out-of-favor sector in institutional investors’ portfolios than energy over the past five years, and with the recent spread of COVID-19 reducing demand for oil & gas, that reality appears set to continue – creating both challenges and opportunities. Amid the sector’s ongoing evolution, the energy PE investment strategy that dominated the market has become outdated, and investors that wish to capitalize on potential opportunities in this market must re-think their approach.
US Manager Universe Statistics: First Quarter 2020
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Market Matters: April 2020
Most risk assets surged in April, partially recovering from steep losses during first quarter’s volatile market environment. Global equities bounced back with double-digit gains, driven largely by US shares.
Buckle Up! Oil Markets Are Likely to Remain Chaotic
Negative prices on near-dated WTI futures grabbed headlines yesterday. However, we should not assume from this that oil has negative value.