- 15 oktQ3 Review
- 17 augChinese crackdowns
- 22 julVector 2021 Semi-Annual Review
- 25 junWhy we still like value
- 25 mei'Transitory' Inflation
- 22 aprReversal to the mean?
- 17 mrtVector's take on sustainable finance
- 09 mrtSustainability-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 oktHow 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 meiUnprecedented times call for unprecedented measures...
- 23 aprVector's outlook on the Corona Crisis
- 13 mrtMarket 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 oktVector 2019 Q3 Review
- 10 sepA new prospectus
- 14 augMarket Review: July
- 10 julVector 2019 Semi-annual Review
- 14 junAre factor premia disappearing?
- 21 meiHow persistent is regional outperformance?
- 12 aprMarket recovery: sense or sentiment?
- 12 mrtMarkets 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 meiStrong earnings put markets on the road to recovery
- 17 aprQ1 Overview
- 13 mrtStock Markets: Episode VI: The return of volatility
- 02 mrtVector 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!
Temperatures and stock markets heat up
20 aug 2018
Much like the temperature stock prices generally were in an upward trend during July. A strong job market and earnings season in the US and an apparent de-escalation of the US-EU trade conflict made investors hope that the geopolitical tensions, that had so often dominated the news during the first half of the year, were a thing of the past. On the back of this good economic news the MSCI World NR ended the month 2.9% higher.
Emerging markets, however, remained in the backseat - continuing to lag behind their developed market counterparts by about 1% during the month. This brings the year-to-date differential between the developed and developing regions to a considerable 8.4%. Valuation wise the P/E of emerging markets now stands at 14.1, which is substantially below that of the MSCI Europe (17.5), let alone that of the MSCI USA (23.1).
Vector Navigator recorded a return of 3.25% in July, outperforming its Morningstar category by 0.94% during the month. Flexible gained 2.15%, which allowed it to outperform the competition by 1.11%. While most funds in the Flexible Allocation category are still struggling to achieve positive returns in 2018, Flexible now stands at a year-to-date return of 1.46%, comfortably placing it within the best quartile of its Morningstar category.
Thierry, Werner & Nils