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C WorldWide Investment Report – Q1 2021

Global Equities

BNP Paribas Asset Management

C WorldWide’s expectations on Global Equities, insights on rising bond yields, the cure for Alzheimer’s where several companies are attempting to develop innovative new treatments and the need to improve general public health in Asia creates good investment opportunities, especially improvements related to the environment and air pollution.

The first quarter of 2021 saw vaccine and lockdown related news switching between positive and negative, while bond yields rose strongly especially in the US ­anticipating a rather robust economic rebound following the reopening of the economies. ­Global equity strategies had the largest quarterly inflows since 2006. At the end of March, ­President Biden, unveiled his eight-year USD 2.3 trillion infrastructure plan ­(following the USD 1.9 trillion pandemic-relief bill signed earlier in the month), labelled as the most extensive government investment plan since the space program of the 1960s.

In the quarter, the strategy’s return was 3.2%, trailing the MSCI AC World ­Index, which ­returned 5.9%. The underperformance largely stemmed from the sharp rise in ­cyclical sectors, like energy and banks rising more than 20%. These are sectors where the ­strategy has low exposure given the strategy of investing in companies with structural and ­thematic tailwinds.

Report Highlights

  • Global Equities: Expectations – Bo Knudsen, Managing Director and Portfolio Manager
  • New Treatment Options for Alzheimer’s and Dementia – Henrik Hviid, Portfolio Manager
  • Riding the Green Wave in Emerging Markets – Aman Kalsi, Portfolio Manager
  • C WorldWide Global Equities ex. Tobacco – First Quarter Commentary

Read more Download the Q1 2021 Investment Report

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