- 31 DecVector 2021 Annual Review
- 15 OctQ3 Review
- 17 AugChinese crackdowns
- 22 JulVector 2021 Semi-Annual Review
- 25 JunWhy we still like value
- 25 May'Transitory' Inflation
- 22 AprReversal to the mean?
- 17 MarVector's take on sustainable finance
- 09 MarSustainability-related disclosures in the financial services sector (SFDR)
- 19 FebDavid versus Goliath: An analysis of 2020 stock market performance
- 30 DecVector 2020 Annual Review
- 20 NovFactor momentum
- 20 OctHow will the US elections influence your portfolio?
- 25 SepAre better times for quant investing on the horizon?
- 26 AugFama/French going through its biggest drawdown since 1963
- 17 JulVector 2020 Semi-Annual Review
- 25 JunA Look At Post-Corona Market Valuations
- 25 MayUnprecedented times call for unprecedented measures...
- 23 AprVector's outlook on the Corona Crisis
- 13 MarMarket correction: sense or sentiment?
- 17 FebThe market and sector concentration
- 14 JanNotice to shareholders
- 31 DecVector 2019 Annual Review
- 17 DecFama/French going through its second biggest drawdown since 1963
- 15 NovThe Alpha Lifecycle
- 16 OctVector 2019 Q3 Review
- 10 SepA new prospectus
- 14 AugMarket Review: July
- 10 JulVector 2019 Semi-annual Review
- 14 JunAre factor premia disappearing?
- 21 MayHow persistent is regional outperformance?
- 12 AprMarket recovery: sense or sentiment?
- 12 MarMarkets solidify recovery
- 12 FebStock Markets Rebound
- 31 DecVector 2018 Annual Review
- 14 Dec2019 (outrageous) predictions!
- 20 AugTemperatures and stock markets heat up
- 18 JulVector 2018 Semi-annual Review
- 14 JunDo exporters suffer during trade wars?
- 15 MayStrong earnings put markets on the road to recovery
- 17 AprQ1 Overview
- 13 MarStock Markets: Episode VI: The return of volatility
- 02 MarVector wins Morningstar Germany and Belgium Awards!
- 22 FebVector Flexible wins De Tijd/L'Echo Awards for the third year in a row!
- 16 FebNavigator wins Morningstar France Award!
10 Nov 2022
Equity markets ended the third quarter on a positive note as most broad indices recovered significantly in October. Developed markets recorded a return of about 6%. Their emerging market counterparts on the other hand continued their losing streak, with Asian equities falling by about 7% during the month. The Chinese rally we saw in early November obviously offset some of these losses, but Emerging Asia still has a long way to go before they perform on par with developed markets in 2022.
Our funds tend to invest a bit more in Asian equities than the benchmark, which was a headwind in October (-0.22% α) and indeed during much of the year. Nevertheless, our stock picking was very successful last month. We continued to add value by picking good performing companies within the consumer cyclical (+0.67% α), healthcare (+0.69% α) and technology (+0.52% α) sector.
As a result, Vector Navigator registered a nice return of 6.63% in October, beating our peers by 1.96% and our benchmark index by about 1.60%. This brings our global equity fund’s year-to-date outperformance to 7.8%. Our flexible allocation fund continues to reap the benefits of a low duration strategy and a decent alpha resulting from its stock picking component. Consequently, Vector Flexible was able to record a performance of 3.86% during the month, which compares very favourably with the category which only managed to gain 1.68% in October. This brings the year-to-date performance of the fund back into the positive territory (+0.12%), which is 12.32% higher than the Flexible Allocation – Global category.
Werner, Thierry & Nils