April was a very volatile month following President Trump’s ‘Liberation Day’ tariff announcements. Global equity markets, government bonds and foreign exchange were significantly affected by these announcements.
April was a very volatile month following President Trump’s ‘Liberation Day’ tariff announcements. Global equity markets, government bonds and foreign exchange were significantly affected by these announcements.
April was a very volatile month following President Trump’s ‘Liberation Day’ tariff announcements. Global equity markets, government bonds and foreign exchange were significantly affected by these announcements.
Sentiment was stronger in October, as spreads on EUR investment grade (IG) corporates tightened by 12 basis points (bps) to 104 bps. Spreads were well supported over the month, on a combination of robust macro data from the US and EU, the European Central Bank (ECB) delivering a 25 bps rate cut as expected and very strong technicals.
In October the fund showed resilience during a weak month for fixed income, as interest rates were rising. This was notably the case in the US, where strong economic data, combined with the fixed income market pricing in a Donald Trump win, meant that interest rates, as measured by the 10-year US Treasury bond yield, moved up by circa 50 basis points (bps).
| serie | AsOFDateFK | FundName | ISIN | MTD | MTD | YTD | YTD | SI | SI |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 20,251,110 | GAM Sustainable Climate Bond fund | IE000BSJBO14 | -0.21 | -0.0021 | 0.0347 | 3.47 | 0.0192 | 1.92 |
| 2 | 20,251,110 | GAM Star Crdt Ops EUR Inv | IE00B50JD354 | -0.16 | -0.0016 | 0.0401 | 4.01 | 0.7324 | 73.24 |
| 3 | 20,251,110 | GAM Star Crdt Ops GBP Inv | IE00B510J173 | -0.08 | -0.0008 | 0.0573 | 5.73 | 1.0548 | 105.48 |
| 4 | 20,251,110 | GAM Star Crdt Ops USD Inv | IE00B5769310 | 0.02 | 0.0002 | 0.0672 | 6.72 | 0.9765 | 97.65 |
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