Global equity markets were buoyed by optimism that the worst of the Covid-19 pandemic was over, as the rate of new cases of infection declined in most countries. The notable exception was in the USA where total cumulative cases passed the one million mark. Despite this, many US states announced plans to begin re-opening businesses as the economic toll of lockdown continued to cause enormous job losses. By the end of April, the cumulative initial jobless claims had reached over 30 million since mid-March.
Arno Lawrenz is Global Investment Strategist at Ashburton Investments. He is responsible for day-to-day management of the Ashburton Global Multi-Asset Fund range. Arno joined Ashburton in 2016 and has 28 years in the finance industry. Prior to joining Ashburton, he was founder and Chief Investment Officer of Atlantic Asset Management, a boutique fixed income asset manager. Before that he filled the role of Head of Fixed Income at both Old Mutual and Coronation Fund Managers winning both Morningstar and Raging Bull awards for investment performance. Arno has a B.Sc(Hons) from the University of Cape Town, South Africa. He is also a CFA charterholder.