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
Jun 2018
Market Snapshot
Market Snapshot

United States

  • US equities closed the month of April flat with the S&P Index returning 0.38%. US equities lagged other developed markets despite supportive company earnings and a better-than-expected first quarter GDP growth print. Energy stocks were the standout performers in April, buoyed by a further appreciation in oil prices to USD 75 a barrel. In contrast, consumer staples companies were the weakest. Rising bond yields also hurt higher yielding sectors, such as telecoms.
Source:
Jun 2018
Market Review
Market Review

Asia Pacific (ex. Japan)

Asia Pacific ex Japan equities gained in April. Sentiment received a boost amid broadly positive economic data releases and easing geopolitical tensions surrounding North Korea. All sectors except information technology (IT) ended in positive territory. Energy and materials stocks tracked resource prices higher. Chinese equities underperformed the broader market amid intensifying concerns over its trade relationship with the US.

Source:
Market Review
Global equity markets were benefited as US-China trade tension took a breather in April
Jun 2018
Global equity markets were benefited as US-China trade tension took a breather in April
Global equity markets were benefited as US-China trade tension took a breather in April

United States

  • The US equity market almost erased its losses for the year and made small gains in April amid signs that trade tensions were easing while attention turned to the corporate earnings season.
  • We still like US equity given the underlying durability of the economy, stable growth in jobs and tax reform plan offer some tailwinds to US corporate earnings in 2018.
Source:
Jun 2018
Overview of markets in April 2018
Overview of markets in April 2018

Highlights:

  • Global equities made a modest gain in April, as protectionist rhetoric appeared to soften and the oil price rallied strongly on demand dynamics and tensions in the Middle East.
  • US equities posted a narrow gain, supported by ongoing strength in economic data, a buoyant oil sector and reduced trade worries.
Source:
Overview of markets in April 2018
Global Economic Perspective
Jun 2018
Global Economic Perspective
Global Economic Perspective

In this issue:

  • US economy and Fed likely to remain on current course despite trade rhetoric
  • Trade policy uncertainty set to keep market volatility elevated
  • Eurozone growth eases slightly but still robust, as ECB stresses dovish outlook 

 

 

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.