Markets withstand COVID-19 volatility
Only two major stockmarkets ended the year in negative territory, according to FE Analytics, despite a global pandemic causing disruption to markets.
Data from 1 January, 2020, to 31 December, 2020, found the ASX 200 returned 1.4% during the period while its small-cap counterpart the ASX Small Ordinaries index rose by 9.2%.
The best-performing market over the year was the Nasdaq which rose 35.6% thanks to its high weighting to technology stocks which were winners during the year due to remote working and stay-at-home restrictions.
The two markets which reported negative returns were the UK’s FTSE 100 which lost 16.8% and the Dow Jones Composite index which lost 0.33%.
The third major US index, S&P 500, returned 7.2% with US President Donald Trump regularly commenting on how the US stockmarket was reaching record highs last year.
In Asian markets, the Shanghai Composite index in China had returned 10.4% with China being the first region out of the pandemic. Japan’s TOPIX index returned 2.5% while the Nikkei rose 11.4%.
AUTHOR
Laura Dew
Recommended for you
Money Management spoke with two brand consultants to how Perpetual can best rebrand its business as the 138-year name is sold to private equity firm KKR.
Pinnacle remains a “standout” fund manager, according to Morningstar, amid a challenging backdrop for active asset management and the addition of a new global equities affiliate from the UK.
Platinum Asset Management saw outflows of $1.65 billion in April, partly as a result of redemptions from institutional mandates and product rationalisation initiatives.
In this latest Meet the Manager profile, Money Management speaks with Ophir Asset Management co-chief executive Andrew Mitchell.
