Courtiers Wealth Management
Courtiers Wealth Management

News & Insights

July 2021 – Market Update

Global equity markets continued on their upward trend throughout June. In the UK, despite rising cases and a delay to the final easing of restrictions, the FTSE All Share TR index still managed a positive return of 0.16% during the month.

The US equity market performed strongly with the S&P 500 index delivering 2.33%, aided by Microsoft becoming only the second American company after Apple to reach a market value of $2 trillion.

As global economic recovery continues, inflation figures are picking up. In the UK, the latest data from the ONS shows that the Consumer Prices Index increased from 1.6% in April to 2.1% in May, while in the US, inflation has reached 5% for the first time since 2008.

Full round-up of June market performance

In the UK, the FTSE 100 index gained 0.41%, while medium sized companies, measured by the FTSE 250 ex IT index and smaller companies, measured by the FTSE Small Cap ex IT index, returned -1.79% and 0.94% respectively. In the US, the S&P 500 USD index climbed 2.33% while in Europe the Eurostoxx 50 EUR index rose 0.70%. Japanese stocks measured by the Topix JPY index put on 1.19%.

Emerging markets in general performed well during the month, with the MSCI Emerging Markets index rising 0.87% in local currencies. Chinese equities measured by the MSCI China local index gained 0.35%. Latin American equities, measured by the MSCI Latin America local currency index, slipped 0.22% while Indian stocks, measured by the Nifty 50 INR PR index, lifted 0.89%.

In the fixed income market, UK government bonds, measured by the FTSE Gilts All Stocks index, climbed 0.72%. Long dated (over 15 years to maturity) gilts rallied 1.32%. Sterling denominated corporate bonds, measured by the Markit iBoxx Sterling Corporates index, rose 0.89%. In the high yield market, the Bank of America Merrill Lynch Sterling High Yield index picked up 0.72%.

Commodities mostly had a positive month. The S&P GSCI USD index, which consists of a basket of commodities including oil, metals and agricultural items, surged 4.29%. This was led by oil, as the dollar price of a crude oil futures contract ramped up 10.78%. However the precious metals both struggled as the S&P GSCI Gold and Silver indices declined 7.01% and 6.60% in USD respectively. Meanwhile in the agricultural markets, corn and wheat prices grew 9.63% and 1.21% in USD respectively.

In the currency markets, the pound had a mixed month as it picked up 0.25% against the euro but depreciated 2.52% versus the US dollar and 1.40% against the yen.

Important Information

Issued by Courtiers Asset Management Limited, CAM0421575. Courtiers Asset Management Limited is Authorised and Regulated by the Financial Conduct Authority – Register No: 616322. Address: 18 Hart Street, Henley on Thames, Oxfordshire RG9 2AU. Tel: 01491 578368

This communication is for information purposes only and should not be relied upon in making an investment decision. Past performance is not a reliable indicator of future returns. The value of your investments and any income you take from them may fall as well as rise and is not guaranteed. You might get back less than you invest. Any forecast, projection or target where provided is indicative only and is not guaranteed in any way. Certain types of funds might carry a greater investment risk than other investment funds. Further details of the risks associated with investing in Courtiers Funds can be found in the Key Investor Information Document or Prospectus, copies of which are available on request or via the Courtiers Funds section of the Courtiers website.

The views expressed by Courtiers in this summary and any supporting videos produced by Courtiers are reached from our own research. Courtiers cannot accept responsibility for any decisions taken as a result of reading this document or watching any featured video. Investors are recommended to take independent professional advice before effecting any transactions. Where returns are quoted in non-sterling currency denominations the sterling return may increase or decrease as a result of currency fluctuations.

If you are interested in any of Courtiers Asset Management Limited’s range of funds or require any financial advice, please speak to a financial adviser.

We do not endorse nor accept responsibility for the content of any website not operated by Courtiers which you may visit by following a link from this article.

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