The Global Equity Income Strategy returned 1.2%
Equity markets surge again, with S&P 500 reaching new highs, having delivered a return of 21.2% for 2019 year-to-date.
The Chindia strategy is being aligned more closely with that used in the successful Global Leaders strategy.
The Fund returned 1.9%. The consumer staples sector performed poorly during the month.
Global tailwinds along with domestic monetary and fiscal stimulus restore growth optimism, fueling sharp risk market rallies
September saw a rebound in equity markets with the MSCI ACWI Index rising 2.1%. The performance of the Global Equity Income strategy was broadly in line returning 2.1%.
The investment environment might well continue to favour traditional value stocks over the next few months.
The Indian government intervenes with the biggest tax reform of the past 28 years’ and the RBI is supportive with an additional 25 bp cut in early October.
US Federal Reserve (the Fed) cuts rates again, effectively reversing policy back to the September 2018 position. They confirm that more cuts going forward will be data-dependent.
Chinese equity markets were flat on the month, trade war rhetoric de-escalated with trade talks being put back on the table.