– Despite high volatility in Q4 and uncertainty for 2022, most investors remain fairly overweight on Equities. Last month again was a roller coaster. It started well but later in the month, investors’ mood deteriorated following several lockdown announcements across Europe and the discovery of the new variant Omicron. Finally, Jerome Powell spooked markets by turning surprisingly hawkish, stating that inflation was no longer considered transitory and that tapering could happen faster than previously planned.

 – In terms of performance, the funds ended the month in negative territory, most rebounding a week later.

– Omicron is now compromising Q1 2022 roadshows & visits and so joy was short lived as foreign asset managers are moving back to full digital interactions.