Acumen Portfolio Performance YTD 2021
Commentary on Portfolio Performance – NOVEMBER 2021
Following a bountiful October, Acumen & Trust portfolios recorded further positive performances across the board in November despite much increased volatility in many asset classes. Gold and government bonds benefitted from a flight to safety. Alternative strategies also gave support.
US Job growth, corporate earnings and the approval of a one trillion dollar infrastructure bill drove US equity markets to new highs by the 3rd week of the month. Global developed markets also hit new levels while emerging markets hit a 4 month peak. However there was a sharp reversal when newly re-elected Chairman of the Federal reserve seemed to contradict his previous comments on the transitory nature of inflation and spoke about speeding up the tapering of bond purchases which dampened exuberance. And then markets, led especially by oil, travel and leisure stocks, took their largest fall in 12 months on fears that a new strain of Covid-19 could force further lockdowns. Crude oil fell 20% in November from recent highs.