MPF/ORSO
                                               
                                               

                                              Views from Managers

                                              BCT funds are managed by eight independent fund management companies. Their expert advice on the current market and investment tips will help you build a solid portfolio:

                                              Market Snapshot
                                              Dec 2018
                                              Market Snapshot
                                              Market Snapshot

                                              United States

                                              • US equities retreated -6.84% in October, wiping most of the gains made since the start of the year. In general, the third-quarter earnings reporting season was positive with many companies beating expectations. However, investors were unnerved by more hawkish comments from the US Federal Reserve, concerns over the impact of higher tariffs and worries that corporate earnings may have peaked.
                                              Source:
                                              Dec 2018
                                              Market Review
                                              Market Review

                                              Asia Pacific (ex. Japan)

                                              Asia Pacific ex Japan equities declined in October. Intensifying trade tensions between the US and China, and worries over a slowdown in global economic growth dampened investor sentiment. At the sector level, information technology (IT) and health care were the key laggards. Concerns over a slowdown in economic growth dampened investor confidence towards Chinese equities.

                                              Source:
                                              Market Review
                                              A tough month for global equities
                                              Dec 2018
                                              A tough month for global equities
                                              A tough month for global equities

                                              United States

                                              • The US equity market ended October in negative territory as technology shares fell out of favor and markets grew concerned about US-China trade tensions. Consumer discretionary, energy and industrials were the weakest sectors over the month.
                                              Source:
                                              Dec 2018
                                              Overview of markets in October 2018
                                              Overview of markets in October 2018

                                              Highlights:

                                              • October saw the sharpest one-month decline for global equities since May 2012. Bond markets reflected the risk-off market sentiment, with government bond yields outside the US broadly lower.
                                              • US equities declined amid investor concerns over the durability of the economic cycle. Economic data and Federal Reserve (Fed) comments indicated scope for further interest rate hikes.
                                              Source:
                                              Overview of markets in October 2018
                                              Global Economic Perspective
                                              Dec 2018
                                              Global Economic Perspective
                                              Global Economic Perspective

                                              In this issue:

                                              • US Economy's Fundamentals Justify Optimism, but Inflation Still Subdued
                                              • Global Economy Maintains Solid Momentumas Trade Concerns Subside
                                              • Italy's Budget Talks with EU Could Lead to Looser Fiscal Policy Elsewhere in Eurozone

                                               

                                              Source:

                                              Some of the information contained herein including any expression of opinion or forecast has been obtained from or is based on sources believed by us to be reliable, but is not guaranteed and we do not warrant the adequacy, accuracy, reliability or completeness of such information obtained from or based on external sources. The information is given on the understanding that independent investment advice should be sought when making investment decisions; that it will not be relied on in the making of investment decision and that any person who acts upon it or otherwise changes his or her position in reliance thereon does so entirely at his or her own risk. This is not an offer to buy or sell or a solicitation or incitement of offer to buy or sell any securities referred to herein, save for BCT (MPF) Pro Choice and BCT (MPF) Industry Choice and their underlying constituent funds. It should also be appreciated that under certain circumstances the redemption of units/shares may be suspended. Investment involves, in particular, risks associated with investment in emerging and less developed markets. Please refer to the relevant prospectus for details. Past performance is not indicative of future performance.

                                              Information contains on this webpage is for reference only. The views and opinions as expressed therein may vary as the market changes.