Category Archives: News

What will Donald Trump bring to the markets?

It happened. Nobody expected (really) that an outsider as Donald Trump could win the election for the presidency against the candidate of the establishment, Hillary Clinton. But Trump will swear his charge as the 45th president of the USA in Washington next January. What will he bring to the markets?

The first reaction but all except negative. S&P 500 and Dow Jones went up in the following days after the election. The rise has been around 2% in this period.

S&P 500 chart in T-Advisor

S&P 500 chart in T-Advisor

Dow Jones chart in T-Advisor

Dow Jones chart in T-Advisor

Trump has campaigned for an expansive economic model. He underlined this idea in the address after the victory, because he insisted in rebuilding infrastructures. Maybe, markets have chosen to look the positive part of the Trump proposals, as NY Times comments. The positive reaction was not only in equities, but also in bonds. The position commented in Black Rock put the accent in the possible reflation if new administration confirms the Trump programme.

The effects were not so nice in other world regions. For instance, Latam received a hit and the markets (above all, Argentina and Brazil) dropped dramatically. The worst result was in the Mexican market, with a loss of 6.7% in the last 7 days. There are fears about the next decisions related to Mexico and Latam from USA, above all what refers to immigration and free trade.

Mexico IPC chart in T-Advisor

Mexico IPC chart in T-Advisor

We are not trying to predict the future. Markets usually have their own way to welcome a president. In this case, the result was positive, but it does not mean that there will be a bubble, as some say, or it will be the next crash. For sure, there will be several changes compared with the Obama Administration. Trump has also the support of the US Congress, as Republicans have the majority in both houses and this can push their economic decisions. We will comment next year to contrast the initial perceptions and the reality.

Ranking T-Advisor: The best stocks and funds in October

What stocks and funds were the best in October? T-Advisor publishes its ranking taking into account the score. T-Advisor patented score provides an asset rating (bullish, neutral or bearish) based on key performance indicators and technical analysis.

The best shares in October were as it follows:

Company Score Perf. YTD Volatility Weekly VaR Market

EUROPE

Borussia Dortmund

10

45.14%

22.75%

-4.78%

Deutsche Boerse
Galapagos

10

5.13%

49.36%

-12.49%

Brussels
Trigano

10

12.91%

33.31%

-5.95%

Paris
Teleperform

9.96

24.21%

21.89%

-4.87%

Paris
Euro Scientific

9.85

27.11%

30.31%

-5.68%

Paris

USA-CANADA

Spectra Energy

10

76.27%

30.09%

-4.64%

NYSE
Finisar

10

102.82%

38.74%

-7.56%

Nasdaq
Netease.com Inc

10

46.62%

36.97%

-10.71%

Nasdaq
Dominos Pizza

9.96

48.13%

28.41%

-4.54%

NYSE
CBS Corp.

9.89

20.48%

24.91%

-6.68%

NYSE

ASIA-PACIFIC

Geely Auto

10

113.08%

38.05%

-8.17%

Hong Kong
Lion Corp.

10

50.17%

39.77%

-7.28%

Tokyo
Challenger Financial Services

9.99

20.30%

30.27%

-7.08%

Australia
Morinaga

9.83

51.56%

43.02%

-9.06%

Tokyo
China Pharm

9.74

3.54%

32.37%

-6.13%

Hong Kong

LATAM

Hortifrut

10

130.77%

25.31%

-1.62%

Santiago de Chile
Empresas Hites

10

96.85%

27.70%

-4.57%

Santiago de Chile
Parque Arauco

9.78

42.74%

19.39%

-3.53%

Santiago de Chile
Multifoods

9.77

216.37%

45.94%

-6.05%

Santiago de Chile
Banco Crédito Inversión

9.76

26.05%

14.72%

-2.81%

Santiago de Chile

The best funds in October were as it follows:

Fund Score Perf. YTD Volatility Weekly VaR Managing company

EQUITY

M&G JAPAN SMALLER COMPANIES FUND – C – EUR – ACC

9.58

15.34%

19.46%

-4.47%

M&G Investments
ALLIANZ RCM INDONESIA A EUR

9.50

23.21%

30.24%

-5.80%

Allianz
ALLIANZ EUROPEAN MICRO CAP IT EUR

9.47

0.80%

14.84%

-3.76%

Allianz
JPMORGAN FUNDS – JAPAN EQUITY FUND – A – USD – DISTR

9.36

7.01%

23.43%

-6.16%

JP Morgan

FIXED INCOME

FTIF – TEMPLETON EMERGING MARKETS BOND FUND – I – U…

9.15

11.40%

11.08%

-2.42%

Franklin Templeton
FTIF – FRANKLIN HIGH YIELD FUND – I – USD – ACC

9.06

18.26%

9.65%

-2.25%

Franklin Templeton
SISF GLBL INF LKD BD USD HDG C ACC

8.88

12.21%

5.51%

-1.04%

Schroder
FTIF – TEMPLETON GLOBAL TOTAL RETURN FUND A(ACC) EUR

8.87

3.34%

15.71%

-4.11%

Franklin Templeton

Markets, you are getting very messy

Markets are living unusual situations since the beginning of the Great Crisis in 2007-2008. We are now living the 8th anniversary of the bankruptcy of Lehman Brothers. Since that moment, markets have been intervened by central banks (in fact) and their operations are not really free.

One of the chapters that we have recently lived is a “black swan”: Brexit in Europe has shaken the markets with a crash at the end of June and a continuous bullish trend in July. On the other hand, low volatility dominated the trading in August. For instance, volatility hit a 2-year-low in this month in Wall Street. Now, in September, investors tend to be negative and bears have taken their positions. In other words, markets are getting messy.

Evolution of developed markets YTD

What can we expect in the last quarter of this year? BlackRock head Russ Koesterich bets that the US election will hardly move the markets, either Clinton or Trump win. He proposes that market volatility can come from near elections in Europe, where populist parties are winning support amongst electors in several countries, even the most powerful as France or Germany.

Some investors are watching carefully the evolution in emerging markets. They are currently performing fine, mostly in Latam. Moody’s has recently raised the outlook for Brazil, Russia and China. If we look at the chart, we also find that Argentina is performing quite well after the change in the Presidential Seal.

Evolution of emerging markets YTD

But the deep discussion in the market operators is not about the influence of the politics, but the current bubble and overvaluation linked with what we mentioned at the beginning: the intervention by the central banks.

54% of investors requested by Bank of America Merrill Lynch in its Global Fund Manager Survey think that stocks and bonds are overvalued. This was also the perception before the dotcom crash in 2000. What does it mean? Are we near a new crash? Do markets experience a new “irrational exuberance” as Greenspan asserted in 1996?

We receive signals, because we cannot guess the future. The clear signal is that markets are not operating free: is it logical that several countries and companies are paying negative interests for the bonds? Is it logical that central banks keep their interest rates so low? Not at all, but the crash of this bubble can create a wave difficult to control.

Ranking T-Advisor: The best stocks and funds in July

What stocks and funds were the best in July? T-Advisor publishes its ranking taking into account the score. T-Advisor patented score provides an asset rating (bullish, neutral or bearish) based on key performance indicators and technical analysis.

The best shares in July were as it follows:

Company Score Perf. YTD Volatility Weekly VaR Market

EUROPE

Softship

10

213.77%

59.77%

-7.31%

Deutsche Boerse
Lingotes Especiales

10

86.07%

36.82%

-5.66%

Madrid
Albis Leasing

10

84.68%

48.15%

-10.53%

Deutsche Boerse
Adidas

10

56.32%

27.00%

-5.67%

Xetra
Grammer

10

51.95%

50.70%

-12.14%

Deutsche Boerse

USA-CANADA

Silver Weathon

10

106.51%

42.56%

-8.21%

Toronto
Mag Silver Corp.

10

106.45%

43.91%

-10.62%

Toronto
Silicon Motion Tech.

10

67.76%

33.09%

-8.32%

Nasdaq
Drew Industries

10

52.06%

27.01%

-6.07%

NYSE
Worthington Ind.

10

48.97%

33.63%

-7.97%

NYSE

ASIA-PACIFIC

Resolute Mining

10

480.00%

76.49%

-16.75%

Australia
Saracen Mineral

10

159.84%

43.56%

-7.05%

Australia
St. Barbara

10

100.00%

 66.26%

-13.52%

Australia
Orocobre

10

85.22%

59.99%

-9.48%

Australia
Manaccom Corp.

10

70.59%

43.98%

-6.83%

Australia

LATAM

Multifoods

10

164.50%

48.09%

-7.42%

Santiago de Chile
Embonor

10

38.63%

26.86%

-5.60%

Santiago de Chile
Graña y Montero

9.92

165.48%

72.85%

-11.73%

Lima
Parque Arauco

9.87

27.07%

18.65%

-4.34%

Santiago de Chile
Empresas Hites

9.86

37.80%

28.56%

-5.93%

Santiago de Chile

The best funds in July were as it follows:

Fund Score Perf. YTD Volatility Weekly VaR Managing company

EQUITY

TEMPLETON THAILAND FUND A(ACC) SGD

9.60

19.55%

13.17%

-2.67%

Franklin Templeton
FF-ASIAN AGGRESSIVE Y

9.54

18.16%

20.41%

-5.56%

Fidelity
JPMORGAN FUNDS – GLOBAL REAL ESTATE SECURITIES FUND

9.25

10.74%

16.13%

-4.45%

JP Morgan
FF-GLOBAL TECHNOLOGY Y

9.17

6.20%

22.73%

-6.33%

Fidelity
INVESCO US STRUCTURED EQUITY FUND [LUX] I

9.09

9.39%

14.34%

-3.92%

Invesco

FIXED INCOME

AXA WF GLOBAL AGGREGATE BONDS J CAP JPY HEDGED JPY

9.40

5.27%

2.34%

-0.52%

AXA
AXA WF GLOBAL EM MARKETS BONDS I CAP USD USD

9.09

12.24%

5.58%

-1.20%

AXA
AB GL2 AUD BD A2C

8.94

6.15%

4.04%

-0.99%

Aberdeen
AV I LG EU BD — SHS -A- — CAPITALISATION

8.94

14.49%

11.18%

-3.22%

Aviva
AVIVA FUNDS – LONG TERM EUROPEAN BOND FUND P1 CAP

8.92

12.68%

14.86%

-2.33%

Aviva

 

Ranking T-Advisor: The best stocks and funds in June

What stocks and funds were the best in June? T-Advisor publishes its ranking taking into account the score. T-Advisor patented score provides an asset rating (bullish, neutral or bearish) based on key performance indicators and technical analysis.

The best shares in June were as it follows:

Company Score Perf. YTD Volatility Weekly VaR Market

EUROPE

Lingotes Especiales

10

55.95%

36.12%

-5.66%

Madrid
Koenig & Bauer

10

42.99%

42.09%

-7.99%

Deutsche Boerse
Plastiques Loire

10

23.97%

40.06%

-7.62%

Paris
Esker

10

6.71%

24.97%

-6.45%

Paris
Hypoport

10

6.56%

61.34%

-11.69%

Deutsche Boerse

USA/CANADA

First Majestic

10

252.33%

68.34%

-15.51%

Toronto
Great Panther

10

180.00%

70.21%

-11.93%

Toronto
Richmont Mines

10

151.80%

56.24%

-13.79%

NYSE
Pro-Dex

10

109.87%

43.62%

-7.95%

Nasdaq
Goldfield Corp.

10

99.35%

51.09%

-8.59%

NYSE

ASIA-PACIFIC

Orocobre

10

117.39%

59.81%

-9.48%

Australia
St. Barbara

10

107.02%

67.99%

-14.82%

Australia
Lion Corp

10

39.69%

39.31%

-6.70%

Tokyo
Fuji Co

10

37.12%

34.88%

-7.80%

Tokyo
BML

9.22

35.63%

35.93%

-7.45%

Tokyo

LATAM

Raura

8.67

133.33%

49.37%

-4.98%

Lima
Graña y Montero

7.87

128.43%

73.82%

-12.18%

Lima
Parque Arauco

7.70

19.95%

18.21%

-4.34%

Santiago de Chile
Soc. Química y Minera

7.68

22.75%

37.99%

-9.12%

Santiago de Chile
Cencosud

7.52

31.75%

25.19%

-5.77%

Santiago de Chile

The best funds in June were as it follows:

Fund Score Perf. YTD Volatility Weekly VaR Managing company

EQUITY

INVESCO NIPP S/M EQ — SHS -A- — CAPITALISATION

9.45

11.97%

25.58%

-7.09%

Invesco
BGF WORLD GOLD FUND A2 EUR

8.22

63.07%

35.15%

-8.19%

BlackRock
TEMPLETON THAILAND FUND A(ACC) SGD

7.20

10.06%

13.48%

-2.93

Franklin Templeton
FRANKLIN INDIA FUND I(YDIS) EUR

7.20

0.87%

21.85%

-5.71%

Franklin Templeton
FF-ASIAN HI YLD ACC EUR

7.48

3.65%

11.96%

-2.83%

Fidelity
SISF US SMALL & MID-CAP EQ I ACC

7.13

8.03%

15.17%

-4.27%

Schroder
J.B.MULTIPARTNER – SAM SUS.W. B

7.12

3.31%

18.22%

-3.48%

GAM Funds
PMORGAN FUNDS – AMERICA MICRO CAP FUND

7.10

7.52%

17.31%

-4.71%

JP Morgan

FIXED INCOME

AXA WF GLOBAL AGGREGATE BONDS J CAP JPY HEDGED JPY

8.86

3.91%

2.32%

-0.58%

AXA
BLACKROCK PY ST-SBI

8.55

1.71%

7.87%

-1.74%

BlackRock
PIONEER SF – EURO EXTRA LONG TERM BOND CLASS F NON…

8.05

8.46%

9.17%

-2.46%

Pioneer
CIE BENR OPP IN — SHS -A-(USD)

7.90

3.11%

2.05%

-0.54%

B. De Rothschild SICAV
AWF EUR 10+LT — SHS -A- — DISTRIBUTION

7.87

7.95%

8.41%

-2.29%

AXA
NUVEEN MUN INCOME

7.70

9.18%

12.08%

-2.58%

BlackRock
NUVEEN CA PERF PLUS

7.69

8.07%

7.72%

-1.93%

BlackRock
JPMF STERLING BOND A – GBP CAP

7.63

8.68%

7.57%

-1.52%

JP Morgan
SCHRODER ISF GLOBAL BOND I CAP

7.61

8.27%

4.86%

-1.22%

Schroder
PIONEER FUNDS – EMERGING MARKETS BOND I

7.58

3.09%

9.60%

-2.48%

Pioneer

 

Oil, gold and rates: something does not work in the markets

Performance evolution of the main world markets last year

Old civilisations believed that weird natural or astronomical events were signals of disasters or even the end of the world. A modern version of those myths could be the evolution of some financial references: oil, gold and rates. Their behaviours are far from being rational. Why? There is a lot of uncertainty and fear amongst investors.

Gold is the traditional safe haven in times of high inflation. This is not the case now, because we experience very low inflation or even deflation. The Depression that we have lived pressured the wages, something that have a direct relationship with the price evolution (in both as a production cost and consumption capacity). Why is the price of gold going up? Because investors buy the precious metal to preserve capital. Currently, there are not many options to obtain good performances: neither fixed income, nor equities (not to mention traditional products as deposits…). Gold is a way, at least, to avoid losing value.

Oil dropped in January to the lowest price for years: Brent was around 30 dollars. However, the market sentiment was not positive at all. The fall of the price was linked with excess of supply from several producers pumping and fighting for a largest market share that demonstrate suicidal. On the hand of demand, the economy does not grow as wished, mainly in Europe. Low demand, large supply: the traditional equation gives as a result a decline in the oil price. Usually, investors smiled, when oil reduced the prices, but it is not the case now. Prices are recovering around the 50-dollar threshold, but it is not enough to calm down the markets.

Finally, rates are in negative figures. The world turns upside down. Creditors have to pay debtors. German 10-year-bund has negative interests and Euribor is negative since 2014. The extreme would be that banks, pressured under the current situation, asked customers for fees or interests for their fixed-term deposits. Central banks intervention is creating a weird situation in which there are no rational behaviours in markets. Another sign is that wealth managers are holding more cash than ever since 2001 in their portfolios.

The Brexit poll, the uncertain US presidential election, China’s deceleration, the absence of strength in the European recovery… too many uncertainties. Investors are always frightened and money looks for security. Gold, oil and rates are indicators that markets are not working. What will be the solution? Will the markets recover their proper operation when central banks end the intervention? But when will they end it? Uncertain questions for an uncertain world.

Ranking T-Advisor: The best stocks and funds in May

What stocks and funds were the best in May? T-Advisor publishes its ranking taking into account the score. T-Advisor patented score provides an asset rating (bullish, neutral or bearish) based on key performance indicators and technical analysis.

The best shares in May were as it follows:

Company Score Perf. YTD Volatility Weekly VaR Market

EUROPE

Mensch und Masch

10

51.06%

38.33%

-7.71%

Deutsche Boerse
Elecster OYJ

10

46.01%

26.46%

-4.43%

Helsinki
LNC

10

34.05%

30.10%

-6.14%

Paris
IWKA

10

32.86%

35.98%

-5.87%

Deutsche Boerse
Koenig & Bauer

10

30.27%

42.11%

-7.99%

Deutsche Boerse

USA/CANADA

Claude Resources

10

178.21%

45.01%

-7.35%

Toronto
Richmont Mines

10

133.96%

53.98%

-13.79%

NYSE
Goldfield Corp

10

88.39%

51.03%

-8.59%

NYSE
Detour Gold

10

81.89%

49.20%

-11.05%

Toronto
Supreme Industries

10

74.89%

46.78%

-9.24%

NYSE

ASIA-PACIFIC

Tribune RSC

10

119.94%

43.68%

-8.56%

Australia
Saracen Mineral

10

108.20%

48.42%

-7.05%

Australia
Orocobre

10

64.35%

60.91%

-11.15%

Australia
Lion Corp

10

41.00%

38.93%

-6.70%

Tokyo
Aristocrat Leisure

10

19.69%

29.65%

-5.83%

Australia

LATAM

Cementos Pacasmayo

9.59

21.20%

36.31%

-9.12%

Lima
Alicorp

8.79

11.03%

32.11%

-7.71%

Lima
Graña y Montero

8.20

132.49%

73.74%

-12.18%

Lima
Norte Grande

7.28

33.84%

53.04%

-12.18%

Santiago de Chile
Cementos Lima

7.15

54.71%

47.34%

-11.59%

Lima

The best funds in May were as it follows:

Fund Score Perf. YTD Volatility Weekly VaR Managing company

FIXED-INCOME

BLACKROCK PY ST-SBI

8.55

1.71%

7.87%

-1.74%

BlackRock
NV PRE INC MUN FD 4

8.50

15.55%

13.81%

-2.27%

BlackRock
CIE BENR OPP IN — SHS -A-(USD)

7.90

3.11%

2.05%

-0.54%

Comp. B. Rothschild SICAV
AXA WF GLOBAL AGGREGATE BONDS J CAP JPY HEDGED JPY

7.75

3.12%

2.69%

-0.65%

AXA
FF-ASIAN HI YLD ACC EUR

7.48

3.65%

11.96%

-2.83%

Fidelity
BLCKRCK NY TRII-SBI

7.42

11.62%

11.48%

-1.99%

BlackRock
PIONEER FUNDS – EMERGING MARKETS BOND I

7.39

3.26%

9.98%

-2.51%

Pioneer
INVESCO ASIAN BOND FUND C (ACC) USD [LUX] C

7.33

5.00%

2.86%

-0,66%

Invesco
BGF AS TIG BD A2C

7.29

3.71%

4.21%

-1.29%

BlackRock
AXA WF GLOBAL CREDIT BONDS I CAP USD USD

7.23

4.32%

3.30%

-0.78%

AXA

EQUITY FUNDS

INVESCO NIPPON SMALL/MID CAP EQUITY FUND [LUX] I

10

21.39%

22.97%

-4.87%

Invesco
JPMORGAN FUNDS – JF JAPAN EQUITY FUND

7.92

3.99%

20.88%

-5.49%

JP Morgan
BGF WORLD GOLD FUND A2 EUR

7.75

54.17%

34.00%

-8.19%

BlackRock

 

Hybrid advisor: the future mix of humans and technology in finances

Hybrid advisors, the mix between technology and humans

Do you remember Robocop? Yes, that kind of police half machine half human. Paul Verhoeven’s film was very successful at the end of the 80’s last century. That proposal (the fusion between humans and machines) is a possible development in finances, but please do not expect a cyborg in a bank or managing fund office.

The adviser and blogger Michael Kitces proposed the approach to the “cyborg” advisor already last year and repeated it somehow some days ago. Robo-advisors have changed deeply the financial landscape. Algorithms, low fees and thin structure are the main characteristics, but humans still play a role in some robo-advisor models. Let’s look, for instance, Personal Capital or Vanguard Personal Advisor Services, where there is a combination of technology and human advice.

A recent report from My Private Banking points out that this mixed advisor model will grow by 2020 up to 3,700 billion dollars and represent the 10% of the total investable wealth in 2025. On the contrary, pure automated robo-advisors will keep only a 1.6% of the market share. It already mentioned a relevant trend: the white label robo-advisors by technological providers for financial entities.

The robo-advisor phenomenon have shown a more complex evolution than it was expected. At the very beginning, it sounded that machines will substitute everyone in the wealth management branch. However, we are evolving to a mixed landscape where pure automatic robo-advisors (Betterment, Wealthfront) and automated platforms for self-directed investors (as T-Advisor) live together in the markets with entities that have developed their own platforms (as Vanguard did) or bought existing companies (as BlackRock did with Future Advisor) and with cyborg wealth managers.

The market has place enough for several models, but it is true that the changes are focusing in providing a “human touch” to algorithmic solutions. Kitces, as we already mentioned, titled his recent post as: “The B2C Robo-Advisor Movement Is Dying, But Its #FinTech Legacy Will Live On!”. The text explained the difficulties of the pure tech model, but accept the revolution in the sector made by technology. In fact, he underlines that technology isn’t replacing advisors, but increasing the number of them. Wealth managers accepted technology and they are learning how to use it and improve their results. My Private Banking proposes also different approaches and strategies to robo solutions depending on the customer segments.

In conclusion, the financial sector is already aware that robo-advisors are not anymore fashion: they are a stabilised solution in the market and they are real competitors to the classical individual human-to-human relationship in advising. But the sector finally learned. They have forgot the negative opinions and adopted a different view. Technology is an ally and human advisors have to play the battle in this field if they want to survive. The hybrid advisor model is a kind of solution that will complete progressively the wealth-managing sector with the traditional and the pure tech model. Let’s see the trend in the next years and the market share that they will take up.

Ranking T-Advisor: The best stocks and funds in April

What stocks and funds were the best in April? T-Advisor publishes its ranking taking into account the score. T-Advisor patented score provides an asset rating (bullish, neutral or bearish) based on key performance indicators and technical analysis.

The best shares in April were as it follows:

Company Score Perf. YTD Volatility Weekly VaR Market

EUROPE

Norcom Info Tech

10

178.55%

94.09%

-15.35%

Deutsche Boerse
Bet-at-home.com

10

41.91%

28.81%

-4.80%

Deutsche Boerse
Verbio

10

40.27%

57.80%

-11.08%

Deutsche Boerse
Mensch und Masch

10

36.24%

37.13%

-7.71%

Deutsche Boerse
Le Belier

10

32.67%

35.68%

-8.77%

Paris

USA/CANADA

Claude Resources

10

158.97%

45.61%

-7.35%

Toronto
Richmont Mines

10

95.95%

48.12%

-12.11%

Toronto
Supreme Inds

10

76.50%

47.20%

-9.24%

NYSE
Summit Financial

10

58.08%

22.20%

-3.66%

Nasdaq
Sciclone

10

43.15%

49.66%

-11.53%

Nasdaq

ASIA-PACIFIC

St. Barbara

10

56.49%

68.73%

-14.82%

Australia
Orocobre

10

41.30%

62.92%

-11.15%

Australia
Ono Yakuhin Kogyo

10

17.40%

34.13%

-8.81%

Tokyo
Shionogi

10

5.03%

29.99%

-5.10%

Tokyo
Clinvel Pharmaceutics

9.99

58.17%

37.05%

-6.99%

Australia

LATAM

Casagrande

9.61

122.86%

77.88%

-12.44%

Lima
Multifoods

9.55

129.03%

50.01%

-9.49%

Santiago de Chile
Alicorp

8.69

8.62%

32.05%

-7.71%

Lima
Luz del Sur

8.41

16.39%

29.89%

-7.41%

Lima
Graña y Montero

8.23

138.58%

73.92%

-12.18%

Lima

The best funds in April were as it follows:

Fund Score Perf. YTD Volatility Weekly VaR Managing company

EQUITY FUNDS

INVESCO NIPPON SMALL/MID CAP EQUITY FUND

9.58

9.07%

22.05%

-4.59%

Invesco
ALLIANZ US EQUITY FUND W (H-EUR)

8.51

3.56%

14.03%

-3.95%

Allianz
SISF US SMALL & MID EUR HG C ACC

8.49

6.22%

14.63%

-4.26%

Schroder
BK INDICE AMERICA FI

8.47

0.63%

17.21%

-4.75%

Bankinter
BANKIA BP INDICE S&P 500 FI

8.45

2.82%

14.65%

-4.41%

Bankia
R CAP US PREM EQ — SHS -IH EUR- — CAPITALISATION

8.44

1.08%

15.88%

-4.35%

Robeco

FIXED-INCOME

R CAP H Y BD DHC

8.76

6.55%

9.13%

-2.30%

Robeco
FF-GLB STRAT BD AC SEK HD

8.67

5.47%

5.09%

-0.77%

Fidelity
BLACKROCK PY ST-SBI

8.55

1.71%

7.87%

-1.74%

BlackRock
SCHRODER ISF EMERGING MARKETS DEBT I EUR HEDGED CAP

8.24

8.45%

4.71%

-0.70%

Schroder
AGIF EURO HY — SHS -AT (EUR)- — CAPITALISATION

8.14

3.17%

5.63%

-1.17%

Allianz
AWF US HY BD — SHS -A-EUR HEDGED (95%)- — CAPITAL…

8.08

5.20%

7.71%

-2.20%

AXA
PIM EM MK-E-EUR ACC

8.07

6.29%

7.78%

-2.16%

Pimco
SISF GLBL HIGH YLD EUR HDG I ACC

8.03

4.71%

6.61%

-1.49%

Schroder
NV PRE INC MUN FD 4

7.99

14.35%

14.17%

-2.32%

BlackRock
CIE BENR OPP IN — SHS -A-(USD)

7.90

3.11%

2.05%

-0.54%

Comp. B. Rothschild SICAV

Ranking T-Advisor: The best stocks and funds in March

What stocks and funds were the best in March? T-Advisor publishes its ranking taking into account the score. T-Advisor patented score provides an asset rating (bullish, neutral or bearish) based on key performance indicators and technical analysis.

The best shares in March were as it follows:

Company Score Perf. YTD Volatility Weekly VaR Market

EUROPE

Norcom Info Tech

10

230.34%

93.04%

-15.35%

Deutsche Boerse
Fimalac

10

23.33%

26.93%

-3.83%

Paris
Devoteam S.A.

10

22.84%

37.79%

-7.64%

Paris
PCAS

10

21.08%

29.34%

-4.94%

Paris
Picanol

10

20.86%

34.92%

-7.01%

Brussels

USA/CANADA

Claude Resources

10

75.64%

41.79%

-7.35%

Toronto
Richmont Mines

10

73.21%

49.75%

-13.79%

NYSE
Pro-Dex Inc

10

51.09%

31.31%

-6.85%

Nasdaq
Summit Financial

10

34.01%

20.40%

-3.66%

Nasdaq
Orbcomm

9.91

32.60%

34.61%

-7.17%

Nasdaq

ASIA-PACIFIC

Clinvel Pharmaceuticals

10

56.65%

39.86%

-8.37%

Australia
Manaccom Corp.

10

28.43%

42.71%

-7.18%

Australia
Miura

10

20.89%

24.34%

-4.63%

Tokyo
Yamaha

10

18.51%

30.23%

-5.30%

Tokyo
Lion Corp

10

13.11%

33.00%

-6.70%

Tokyo

LATAM

Embonor

9.54

15.59%

26.67%

-6.03%

Santiago de Chile
Casagrande

8.90

82.86%

77.23%

-12.44%

Lima
Alicorp

8.49

1.72%

29.27%

-7.71%

Lima
CTC

8.41

166.67%

58.04%

-3.33%

Santiago de Chile
Multifoods

8.35

100.00%

49.85%

-9.49%

Santiago de Chile

The best funds in March were as it follows:

Fund Score Perf. YTD Volatility Weekly VaR Managing company

EQUITY FUNDS

INVESCO NIPPON SMALL/MID CAP EQUITY FUND

9.17

7.28%

22.37%

-4.59%

Invesco
SISF US SMALL & MID EUR HG C ACC

8.25

1.31%

14.49%

-4.26%

Schroder
SCHRODER ISF SWISS SMALL & MID CAP EQUITY I CAP

8.23

0.30%

14.44%

-3.61%

Schroder
FF-ASIAN AGGRESSIVE Y

8.16

2.43%

22.64%

-5.56%

Fidelity
INVESCO US STRUCTURED EQUITY FUND [LUX] CH

8.14

2.47%

12.64%

-3.35%

Invesco
M&G INV 1 AMER — ACCUM.SHS — CLASS -C- EUR

8.05

0.01%

19.59%

-5.79%

M&G Investment
AMUNDI EQ US RV — SHS -AU- — CAPITALISATION

8.04

0.45%

16.89%

-4.85%

Groupama
AXA PAC EX-JA — ACCUM.UNITS — CLASS -B- EUR

8.04

0.74%

21.65%

-5.23%

AXA
JPMORGAN ASEAN EQUITY A (ACC) – EUR

8.03

2.67%

22.13%

-5.85%

JP Morgan

FIXED-INCOME

BLACKROCK PY ST-SBI

8.55

1.71%

7.87%

-1.74%

BlackRock
ALLIANZ EURO HIGH YIELD BOND AT (H2-PLN)

8.10

1.61%

5.14%

-1.10%

Allianz
FF-GLB STRAT BD AC SEK HD

7.99

4.50%

4.98%

-0.77%

Fidelity
CIE BENR OPP IN — SHS -A-(USD)

7.90

3.11%

2.05%

-0.54%

B. Rothschild SICAV
AWF US HY BD — SHS -A-EUR HEDGED (95%)- — CAPITAL…

7.70

2.15%

7.56%

-2.20%

AXA
AXA WF GLOBAL AGGREGATE BONDS J CAP JPY HEDGED JPY

7.69

2.87%

2.86%

-0.67%

AXA
AVIVA FUNDS – LONG TERM EUROPEAN BOND FUND P1 CAP

7.61

7.13%

14.20%

-2.33%

Aviva
JPMF INVESTMENT FUNDS – GLOBAL HIGH YIELD BOND X – EUR

7.57

1.97%

7.26%

-1.84%

JP Morgan
AXA WF GLOBAL EMERGING MARKETS BONDS F CAP EUR

7.51

3.93%

4.97%

-1.27%

AXA
JPMORGAN FUNDS – EUROPE HIGH YIELD BOND FUND

7.37

1.79%

5.80%

-1.35%

JP Morgan