It was another interesting period in the markets as the world continued to grapple with how to restart the global economic engine. However, like any engine that’s been powered down for a period of time, restarting can often lead to a few splutters, which is what the period to September seemed to deliver. An overview of the broad economic environment is contained in the market commentary section of the update.
Investment returns for diversified investors were relatively flat over the quarter. While this represented a change from recent quarters of strong returns, long term investors should take some solace that in spite of a range of ongoing economic uncertainties, markets generally consolidated their recent gains during the quarter. A more granular analysis of various market returns through the quarter is contained in the key market movements section.
Our update concludes with a feature article that discusses a behavioural attribute called ‘anchoring’ and it explains how our decision-making can be heavily influenced by pre-existing reference points. This is an interesting and relevant concept for us all, as decision-making is a feature of our daily lives.
Economic Commentary Spring 2021
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