Investors winning in bumpy conditions, what’s driving oil prices, and June equity market review

Genuine Impact
Jul 4 · 3 min read
Alister Sneddon, CTO

Here are the top 3 insights for July 4th, prepared by Alister, our CTO.

Today’s Brief

  • Fidelity: 2019 so far — investors winning in bumpy conditions
  • Aberdeen Standard: What’s driving oil prices, and where are they heading?
  • Eastspring Investments: June equity market review
  • Markets have begun the second half of 2019 on the front foot, rising in response to an apparent warming of trade relations between the US and China.
  • The tussle between Donald Trump and Xi Jinping has been a dominant theme for global markets this year and the latest more peaceful tone was struck as the leaders met and shook hands at the G20 summit in Osaka last week.

Genuine Scores for the top 3 Globally focused funds

  • PIMCO Short Asset Investment Fund, 100
  • SPF Securitized Products, 99
  • Pioneer Multi-Asset Ultrashort Income Fund, 99
  • Our forecasts suggest short-term upside and longer-term downside to the oil price.
  • This reflects an objective assessment of a wide array of demand, supply and risk indicators.
  • It’s generally assumed that global economic activity drives oil demand and hence prices.
  • In fact, looking back over the past 35 years, such a relationship is weak and does not fully explain oil price movements.
  • One reason is that the energy intensity of the global economy fell by one-third between 1990 and 2015.

Genuine Scores for top 3 Oil, Gas & Consumable Fuels stocks

  • Whitehaven Coal, 72
  • Alliance Resource Partners, 71
  • New Hope Corporation, 71
  • Equity markets bounced back from the sharp falls in May after the US Federal Reserve signaled it would be prepared to cut interest rates to preserve economic growth.
  • Tensions in the Gulf rose sharply when two chemical tankers were attacked and set alight in the Gulf of Oman.
  • The US Federal Reserve hinted it would be willing to cut rates sooner rather than later, noting the heightened economic uncertainty.
  • Turkey’s President Erdogan suffered a political blow when a re-run of the Istanbul mayoral election was won by the same opposition figure who had won the first vote in late March.
  • The White House threatened a 5% tariff on Mexican imports in its latest round of negotiation tactics on illegal immigration, before pulling back and saying the two countries had reached a deal.

Genuine Scores for the top 3 Equity funds

  • Versus Capital Multi-Manager Real Estate, 99
  • Fidelity Series Real Estate Income Fund, 94
  • Calvert Equity Fund, 93

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All the best,
Alister and the Genuine Impact Team

p.s. all Genuine Scores are accurate as of the 2ndof July

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