The month saw a marked divergence in performance between developed and emerging market equities. Whilst the former responded positively to signs of a resolution to the Greek crisis, emerging markets were weighed down by mixed economic reports and continued volatility in local Chinese equity markets. The commodity sector, led by oil, was particularly weak given concerns over the ongoing Chinese economic slowdown and excess production. Quality corporate and government bond indices ended the month firmer, whilst global high yield bond indices recorded small losses on account of their exposure to the oil and mining sectors.
The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. This is not a personal recommendation or advice to invest. Past performance is not a guide to future performance.
Different funds carry varying levels of risk depending on the geographical region and industry sector in which they invest. You should make yourself aware of these specific risks prior to investing.