Courtiers Wealth Management
Courtiers Wealth Management

News & Insights

September 2022 – Market Update


Allow 'Marketing' cookies
to watch this video.

Global equities remained volatile in August as the soaring cost of living continued to dominate markets. Inflation in the UK reached double digits for the first time since 1982 as the Consumer Prices Index (CPI) hit 10.1% in July. Energy, food and transport are among the biggest contributors to the rise. Meanwhile the surge in prices has led to real wages in the UK declining 3% between April and June – the biggest fall since records began in 2001.

Bond markets have also been volatile with central banks increasing interest rates in a bid to combat rising prices. UK government bonds, also known as gilts, declined more than 7% during the month as the ten year gilt yield reached its highest level since 2014. The pound meanwhile suffered its worst month against the dollar since October 2016 as it sank 4.5%.

Full round-up of August market performance

In the UK, the FTSE 100 index declined 1.06% while medium and smaller companies, measured by the FTSE 250 ex IT index and the FTSE Small Cap ex IT index respectively, fell 6.53% and 3.96%. In the US, the S&P 500 USD index lost 4.08% while in Europe the Eurostoxx 50 EUR index dropped 5.09%. Japanese stocks measured by the Topix JPY index gained 1.21%.

Emerging markets returns were brighter, with the MSCI Emerging Markets index rising 1.25% in local currency terms. Indian stocks measured by the Nifty 50 INR index picked up 3.50% while Latin American equities, measured by the MSCI Latin America local currency index, increased 2.25%. Chinese equities measured by the MSCI China local index gathered 0.57%.

In the fixed income market, UK government bonds, measured by the FTSE Gilts All Stocks index, declined 7.64%, with long dated (over 15 years to maturity) gilts sinking 12.01%. Sterling denominated corporate bonds, measured by the Markit iBoxx Sterling Corporates index, were down 6.31%. In the high yield market, the Bank of America Merrill Lynch Sterling High Yield index slipped 1.04%.

There were mostly negative returns in the commodities market. The S&P GSCI USD index, which consists of a basket of commodities including oil, metals and agricultural items, ended the month down 2.68%. Crude oil futures dropped 9.20% during the month. In the agricultural markets, corn and wheat futures returned 9.33% and 0.15% in USD respectively. In the precious metals markets, the S&P GSCI Gold and Silver indices slid 2.89% and 11.89% in USD respectively.

In the currency markets, the pound depreciated 4.51% against the US dollar, 2.96% versus the euro and 0.42% against the yen.

Important information

Issued by Courtiers Asset Management Limited, CAM0622633. 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


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

Subscribe to News & Insights

This field is required
This field is required
Please provide a valid email address
Please accept