As we pass the half year mark in 2021, global equity markets have performed very strongly with notable gains. As at the end of June the MSCI ACWI (All Country World Index) was up about 15% giving us one of the strongest starts to a year on record for equity markets.
This strong start to the year has been achieved against the backdrop of optimism around vaccine roll out, significant monetary and fiscal stimulus and with economies reopening, all having a positive impact on global growth. Inflation became a key topic of debate in markets in the first half of 2021, given the huge level of fiscal and monetary stimulus in response to the crisis, coupled with the inevitable supply-chain-related bottlenecks as economies reopened. Merrion Investment Managers (MIM) believes that on the balance of probability we are past the peak of inflation scares.
As the MIM multi-asset fund range continues to outperform, all funds are seeing significant growth for investors. The Multi-Asset 30 Fund is up 5.6% year to date, while the Multi-Asset 50 is up 9.5% and the Managed / Multi-Asset 70 is up 12.9% net of fees over the same period, compounding on the very strong returns for 2020. The funds and their underlying constituent building blocks such as the Global Equity Fund and the Merrion High Alfa Fund (absolute return fund) fall into a very small group of global funds which have outperformed both this year and last. Less than 10% of funds globally have achieved that.
We are also pleased to announce that the Merrion Managed / Multi-Asset 70 Fund has been named the number 1 performing fund in the AON Hewitt Multi Asset Survey across the year-to-date, 1, 3 ,5, & 10-year basis as at the end of June 2021. The survey includes 40 similar style funds distributed here in Ireland by both domestic and international fund managers and is a strong endorsement for the investment team and the consistency of returns.
So as active investment managers with a proven investment process and style agnostic approach, how has the team played some of the key market themes of 2021 and what is their outlook and positioning for the next 6 months? To find out more, watch our short video for full details by clicking here.
Fearghal Lawlor is Head of Business Development with Merrion Investment Managers.
Contact details for each individual team member can be accessed here on our website should you wish to speak with a Portfolio Manager or Account Executive.
Cantor Fitzgerald Ireland Ltd. is regulated by the Central Bank of Ireland and is a member firm of Euronext Dublin and the London Stock Exchange.