News & Updates
In our News & Updates section, we’ll keep you informed about what is happening at MeDirect Group. Through this section we also publish weekly market updates provided by well-established fund houses and other interesting financial reads. Make sure to visit often to keep yourself up to date.
A mutual fund’s price is calculated as its net asset value, or NAV. The NAV for a given mutual fund is the price of its assets (with all of its liabilities subtracted) divided by the number of shares.
When times of turmoil hit, most investors become risk-averse, seeking safety over opportunity for higher returns. The coronavirus-driven crisis is no different in that regard. However, director of fixed income at Franklin Templeton, London, sees some striking differences between this and other crises.
All major ratings agencies adopt a “rate through the cycle” approach. All agencies have also given implicit/explicit credit to euro issuers for being part of the EU and, to a greater or lesser extent, operated in the expectation that the EU will work to help any member state as long as that state tries to help itself.
Amid all the debate around the fallout from COVID-19, we have been surprised by how little we have seen about what the massive stimulus efforts actually mean against the potential economic destruction caused by the virus.
It was a quiet start to last week, with a number of markets closed on Monday for the Easter holiday. Equity markets moved higher, which largely reflected investor focus on the incremental positives regarding the COVID-19 situation despite the fundamental backdrop still looking both grim and precarious.
BlackRock have turned more cautious on emerging market (EM) local debt despite depressed valuations after recent selloffs. Some EMs have allowed their currencies to weaken to help absorb the economic shock, and we see a risk of further currency declines in selected EMs that could wipe out coupon income.
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