Courtiers Wealth Management
Courtiers Wealth Management

News & Insights

September 2021 – Market Update

The crisis in Afghanistan has dominated headlines over the last few weeks but it appears to have had little impact on global equity markets, which continued to trend upwards during the month.

The MSCI World index, which measures global developed equity markets, has risen a further 2.7%, while emerging markets measured by the MSCI Emerging Markets have increased 2.3%.

Commodities meanwhile saw a spike in volatility during the month amidst speculation that weaker than expected economic growth would slow the rebound in demand for raw materials. Additionally, the Federal Reserve is expected to start tapering its high levels of stimulus which have helped to drive prices higher over the last year.

A full round-up of August market performance

In the UK, the FTSE 100 index rose 2.05%, while medium and smaller companies, measured by the FTSE 250 ex IT index and the FTSE Small Cap ex IT index respectively, gathered 5.90% and 4.21% respectively. In the US, the S&P 500 USD index climbed 3.04% while in Europe the Eurostoxx 50 EUR index gained 2.63%. Japanese stocks measured by the Topix JPY index picked up 3.17%.

Emerging markets also performed well during the month, with the MSCI Emerging Markets index rising 2.29% in local currencies. This was led by Indian stocks, measured by the Nifty 50 INR PR index, which surged 8.69%. Chinese equities measured by the MSCI China local index ticked up 0.03% while Latin American equities, measured by the MSCI Latin America local currency index, rose 0.83%.

In the fixed income market, UK government bonds, measured by the FTSE Gilts All Stocks index, slipped 0.82%, while long dated (over 15 years to maturity) gilts fell 1.50%. Sterling denominated corporate bonds, measured by the Markit iBoxx Sterling Corporates index, dropped 0.13%. In the high yield market, the Bank of America Merrill Lynch Sterling High Yield index increased 0.55%.

Commodities had a mostly negative month. The S&P GSCI USD index, which consists of a basket of commodities including oil, metals and agricultural items, declined -2.30%. The price of a crude oil futures contract fell 7.37% while copper futures lost 2.73%. In the precious metals markets, the S&P GSCI Gold and Silver indices returned 0.05% and -6.23% in USD respectively. In the agricultural markets, corn and wheat futures delivered -2.38% and 0.43% in USD respectively.

In the currency markets, the pound depreciated 1.07% against the US dollar, 0.56% against the euro and 0.82% versus the yen.

Important Information

Issued by Courtiers Asset Management Limited, CAM0421602. 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

Past performance is not a reliable indicator of future returns. The value of investments, and the income from them, can go down as well as up and is not guaranteed and you may not get back the amount originally invested. Any forecast, projection or target where provided is indicate 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 are 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 at www.courtiers.co.uk.

Disclaimer
This communication is for information purposes only and should not be relied upon in making an investment decision. The views expressed by individuals and the business are based on market conditions at the date of issue and are subject to change without notice. The mention of any stocks or shares should not be taken as recommendation to deal and does not take into account the individual investor’s investment objective or risk profile. Where an investment or security is denominated in a different currency to the investor’s currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor. Any third party sites, or pages which are linked to the document, have not been reviewed by us and therefore we accept no responsibility for the authors or content of external link or pages. 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.

Share Article