In this month’s Cross Asset Review, we assess the past performance of various asset classes and draw implications for multi asset investors. During the month of June, investors sold down their growth exposure as fears regarding a looming recession continued to persist. Investors deployed their funds in safe-haven, predominantly gold. Bond proxy assets such as REITS and Infrastructure were also liquidated by investors, leading to negative returns. In equity, EM outperformed DM, whilst Australian equities underperformed during June. As expected, the AUD, perceived as a risk currency, weakened relative to most major currencies during this period with TWI down 2.2% in June. The impact of market uncertainty and conditions continues to persevere on global and domestic economies. Investors with well diversified portfolios are in a stronger position to ride this precariousness out.
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