Does Transparency Really Matter for Mutual Fund Conversions?
Justin Kuepper
|
Let's take a closer look at whether transparency really matters for portfolio managers...
US Broad mostly includes funds focused on US equities and can cover different investing styles (growth/value) and market capitalizations (small/mid/large). Fixed Income includes funds focused on debt securities and can cover different geographies (US/foreign) and security types (corporate/municipal/high-yield/investment-grade/government/structured). Alternatives cover funds focused on non-traditional investment strategies (currency, hedge fund strategy, derivatives), leveraged/structured products, real estate, and commodities. Dividend funds focus on generating income via equities and not through debt.
U.S. Broad
Only one index fund was in the green these past two weeks in the U.S., namely a value fund managed by Smead Funds. Growth funds took a beating, with a Morgan Stanley institutional growth fund down more than 17%.
Top Performers
Worst Performers
Dividend
The performance picture was similar in dividend funds. Only one ETF managed to make a small gain of 0.38% over the past two weeks. At the other end of the spectrum, a Vanguard diversified equity fund lost 5.5%.
Top Performers
Worst Performers
Fixed Income
In fixed income assets, there were more outperformers as shorter duration funds tend to attract increased interest when the broader market goes down. Funds shorting longer-duration Treasuries and short-term government bond-focused funds outperformed others in this group.
Top Performers
Worst Performers
Sector
The energy sector has been by far the best performer from the pack, as the Ukraine war and Russian sanctions have put pressure on the oil and gas market. Both the technology and biotechnology sectors have continued to bleed, with many funds posting double-digit losses.
Top Performers
Worst Performers
Foreign
Chinese shares have been among the best performers, as the market recovered somewhat after steep losses in previous weeks. The outperformance was likely due to a signal from the nation’s top leaders that economic stimulus could be forthcoming. Sweden, Brazil and Switzerland were among the worst performers.
Top Performers
Worst Performers
Alternatives
Alternative funds have continued to post strong performance, with funds focused on volatility strategies and commodities among the best performers.
Top Performers
Worst Performers
ESG
ESG funds have again posted a disappointing performance.
Worst Performers
The U.S. GDP declined 1.4% in the first three months of the year, marking a reversal of the strong post-Covid economic recovery. The war in Ukraine and rising interest rates have hit investor demand.
European inflation rose slightly in April to 7.5%, putting additional pressure on the European Central Bank to act more decisively.
The U.S. labor market is getting hotter, with 428,000 new jobs added in April. The unemployment rate stayed flat at 3.6%, which is indicative of full employment.
In a further sign of a global slowdown, Chinese manufacturing and non-manufacturing purchasing managers’ indices moved further into contraction territory.
Fund performance data is calculated for the period between April 29 and May 6.
Receive email updates about best performers, news, CE accredited webcasts and more.
Justin Kuepper
|
Let's take a closer look at whether transparency really matters for portfolio managers...
Kristan Wojnar, RCC™
|
We are looking at all things marketing in this week’s edition.
Justin Kuepper
|
This article will look at how the rise of muni bond funds could...
Mutual Fund Education
Justin Kuepper
|
Let's take a closer look at how ESG investments have outperformed during the...
Mutual Fund Education
Daniel Cross
|
While CITs and mutual funds share many similarities, there are some key differences...
Mutual Fund Education
Sam Bourgi
|
The phrase ‘bear market’ has been thrown around a lot lately, but it...
US Broad mostly includes funds focused on US equities and can cover different investing styles (growth/value) and market capitalizations (small/mid/large). Fixed Income includes funds focused on debt securities and can cover different geographies (US/foreign) and security types (corporate/municipal/high-yield/investment-grade/government/structured). Alternatives cover funds focused on non-traditional investment strategies (currency, hedge fund strategy, derivatives), leveraged/structured products, real estate, and commodities. Dividend funds focus on generating income via equities and not through debt.
U.S. Broad
Only one index fund was in the green these past two weeks in the U.S., namely a value fund managed by Smead Funds. Growth funds took a beating, with a Morgan Stanley institutional growth fund down more than 17%.
Top Performers
Worst Performers
Dividend
The performance picture was similar in dividend funds. Only one ETF managed to make a small gain of 0.38% over the past two weeks. At the other end of the spectrum, a Vanguard diversified equity fund lost 5.5%.
Top Performers
Worst Performers
Fixed Income
In fixed income assets, there were more outperformers as shorter duration funds tend to attract increased interest when the broader market goes down. Funds shorting longer-duration Treasuries and short-term government bond-focused funds outperformed others in this group.
Top Performers
Worst Performers
Sector
The energy sector has been by far the best performer from the pack, as the Ukraine war and Russian sanctions have put pressure on the oil and gas market. Both the technology and biotechnology sectors have continued to bleed, with many funds posting double-digit losses.
Top Performers
Worst Performers
Foreign
Chinese shares have been among the best performers, as the market recovered somewhat after steep losses in previous weeks. The outperformance was likely due to a signal from the nation’s top leaders that economic stimulus could be forthcoming. Sweden, Brazil and Switzerland were among the worst performers.
Top Performers
Worst Performers
Alternatives
Alternative funds have continued to post strong performance, with funds focused on volatility strategies and commodities among the best performers.
Top Performers
Worst Performers
ESG
ESG funds have again posted a disappointing performance.
Worst Performers
The U.S. GDP declined 1.4% in the first three months of the year, marking a reversal of the strong post-Covid economic recovery. The war in Ukraine and rising interest rates have hit investor demand.
European inflation rose slightly in April to 7.5%, putting additional pressure on the European Central Bank to act more decisively.
The U.S. labor market is getting hotter, with 428,000 new jobs added in April. The unemployment rate stayed flat at 3.6%, which is indicative of full employment.
In a further sign of a global slowdown, Chinese manufacturing and non-manufacturing purchasing managers’ indices moved further into contraction territory.
Fund performance data is calculated for the period between April 29 and May 6.
Receive email updates about best performers, news, CE accredited webcasts and more.
Justin Kuepper
|
Let's take a closer look at whether transparency really matters for portfolio managers...
Kristan Wojnar, RCC™
|
We are looking at all things marketing in this week’s edition.
Justin Kuepper
|
This article will look at how the rise of muni bond funds could...
Mutual Fund Education
Justin Kuepper
|
Let's take a closer look at how ESG investments have outperformed during the...
Mutual Fund Education
Daniel Cross
|
While CITs and mutual funds share many similarities, there are some key differences...
Mutual Fund Education
Sam Bourgi
|
The phrase ‘bear market’ has been thrown around a lot lately, but it...