We are showing here a selection of funds that might be of interest to you, either due to their recent outstanding performance, the attractive return potential or diversification benfit they may offer in the given market conditions.
Top Picks of the Month
Markets proved to be choppy in March, particularly for the banking sector. The acquisition of Credit Suisse by UBS and the collapse of Silicon Valley Bank led to a major sell-off in US and European financial companies.
However, beyond those sectors, Global Equities managed to end the month in positive territory, reversing losses in the first half of the month. A fall in rate hike expectations further supported positive sentiment in equity markets.
On the other hand, Global Government Bonds rose during the month, fueled by a risk-off mood following the banking sector concerns.
The fall in bond yields led to a rally in growth stocks, whilst the hit to bank stocks weighed on the performance of value stocks.
Outperformers in our list
Within Global Equities, the Thematic and Sustainable strategies exhibited the best absolute and relative returns during the month, with the Robeco Consumer Trends (+314bps*) and the Ninety One Global Environment (+78bps) funds being among the best performers.
In Europe, the Berenberg European Focus (+224bps) and the Sycomore Social Impact (+30bps) funds led the table.
Alpha generation was scarcer in US and Emerging Markets equity funds.
In Fixed Income strategies, the month of March was also supportive for Corporate bonds, both in Investment Grade and High Yield.
Emerging Markets Debt posted again very attractive returns, and our best pick, the Barings EM Local Debt fund exhibited the best relative performance (+100bps). The Axa Wave Cat Bonds fund was also a good diversifier during March (+109bps).
Performance figures in bracket are monthly alpha compared to respective funds’ benchmark, not absolute performance.
All the mentioned funds are exclusively extracted from our OpenList service, a fund selection list for use by Wealth Managers in Switzerland.
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