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
Apr 2018
Market Snapshot
Market Snapshot

United States

  • US equities endured a volatile February but ultimately fell 4%. During the month, Jerome Powell officially took over as chair of the US Federal Reserve. His optimistic assessment of the US economy, an inflationary new budget deal, and higher wage and inflation data raised speculation that the US Fed would be more aggressive in normalising monetary policy.
Source:
Apr 2018
Market Review
Market Review

Asia Pacific (ex. Japan)

Asia Pacific ex Japan equities declined in light of increased expectations of faster than anticipated interest rate hikes by the US Fed. All sectors except health care ended in negative territory. Telecommunications, real estate and IT stocks were among the leading decliners. Energy and materials also tracked crude oil prices and base metal prices lower.

Source:
Market Review
Global equity markets suffered a correction in February
Apr 2018
Global equity markets suffered a correction in February
Global equity markets suffered a correction in February

United States

  • In US, signs of economic expansion, corporate earnings growth pushed the equity market to record levels since 1987. 
  • The consumer discretionary and IT stocks performed strongly on optimism that tax cuts would result in higher corporate earnings. We favor large-caps over small-caps given the global growth pickup.
Source:
Apr 2018
Overview of markets in February 2018
Overview of markets in February 2018

Highlights:

  • Financial markets were broadly weaker in February. Higher-than-expected US wage data first put bond markets under pressure - as investors priced in the potential for a more proactive Federal Reserve - before worries spread to equity markets.
  • US equities were weaker over the month. Confirmation that macroeconomic data remains broadly resilient did, however, allow markets to recover some poise by month-end.
Source:
Overview of markets in February 2018
Global Economic Perspective
Apr 2018
Global Economic Perspective
Global Economic Perspective

In this issue:

• Volatility Returns to Financial Markets, but Economic Fundamentals Remain Solid.
• Stronger Global Economy Changes Sentiment on Inflation and Interest Rates
• Eurozone's Subdued Inflation Likely More Important than Robust Growth in ECB's Calculations

 

 

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.