Developed markets off, emerging off further
Developed equity markets globally fell 1.79 per cent in June, but still fared better than emerging markets, which collectively fell 2.06 per cent for the month, according to Standard & Poor’s Indices.
Developed markets performance was boosted by leaders Germany and Japan, which each gained around 1.8 per cent, while many northern European markets underperformed with Sweden the worst performer, down 5.29 per cent.
Emerging market performance in June was led by the Philippines, Malaysia and India, which each improved more than 1 per cent, while at the other end Peru dropped 11.49 per cent and Morocco 5.75 per cent.
Despite last month’s figures developed markets are up 4.26 per cent for the year to date led by a 14 per cent gain in France.
Emerging markets are down 2.23 per cent for the first half of this year although predictably there was a far greater divergence in individual markets, ranging from Peru (down 25.41 per cent) to Hungary (up 20.63 per cent).
The results are based on the S&P Global Broad Market Index, which covers approximately 10,000 companies in 45 countries.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.