In November, signs of falling inflation in the US, Europe and UK triggered the best month for global equities since the news of a covid vaccination broke three years ago. By mid-December, the rally was given further impetus by the US Federal Reserve's (Fed) surprise pivot from maintaining interest rates to pencilling-in cuts in the year ahead. Developed market equities significantly outperformed emerging markets to gain 6.8%, while bond markets enjoyed their best quarter for more than two decades.
Past performance is not a guide to future performance and may not be repeated.
Investment involves risk. The value of investments may go down as well as up and investors may not get back the amount originally invested.