EconoMonitor

Major Asset Classes: January 2013 Performance Review

Risky assets generally started the new year on a strong note, led by handsome gains for equities in the US and the developed world. The leading source of red ink last month: government bonds in developed markets. Overall, the unmanaged market-value weighted Global Market Index (GMI) gained 2.5% in January, building on a strong run in 2012.

Starting with January 2013 performance data, GMI includes foreign high yield bonds and foreign REITs. Here’s an overview of the reasoning behind these additions, along with some of the details for intergrating the two asset classes into GMI and its benchmark brethren.

020113a.GIF

This piece is cross-posted from The Capital Spectator with permission.

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Håvard Halland Håvard Halland

PHåvard Halland is a natural resource economist at the World Bank, where he leads research and policy agendas in the fields of resource-backed infrastructure finance, sovereign wealth fund policy, extractive industries revenue management, and public financial management for the extractive industries sector. Prior to joining the World Bank, he was a delegate and program manager for the International Committee of the Red Cross (ICRC) in the Democratic Republic of the Congo and Colombia. He earned a PhD in economics from the University of Cambridge.