March market update – value-orientated parts of the market outperform growth

Head of Multi-asset Funds Ben Seager-Scott gives his commentary on what happened in the markets over the month of March 2021
Published on 09 April 2021

Global markets ended the first quarter of 2021 in positive territory, despite concerns regarding rising global Covid-19 cases in certain regions towards the end of March. 

In this edition

  • Against this backdrop, global equity market returns were positive over the month, with developed market equities outperforming Asian and emerging market equities.
  • European equities were notably strong, supported by a weaker month for the euro.
  • Global fixed income markets were relatively firmer in March, to end what was a challenging first quarter as government bond yields rose. After a strong start to 2021, commodities were weaker in the month against a stronger US dollar, but still delivered bumper returns overall in the first quarter.

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