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PSG Angles and Perspectives: Q1 2020

11 May 2020

PSG Angles and Perspectives: Q1 2020

The quarterly newsletter from PSG Asset Management.

In this edition, we take a closer look at the profound effects COVID-19 have had on local and global markets. Global policy responses to the virus have come at a severe cost to the real economy, as whole sectors have shut down or have had their activities severely curtailed. Share prices were decimated across the board, and many already cheap shares became even cheaper. In the midst of the currently high levels of uncertainty, we constantly remind ourselves of the importance of focusing on the factors we control – like how we apply our processes and when we buy and sell shares. We have found that opportunities continue to abound for patient investors who invest the time in thorough analysis and considered decision-making.

Introduction

There are always opportunities for patient investors
2020 will undoubtedly be remembered as a watershed year in the history books. The COVID-19 pandemic has derailed markets across the board. Moreover, the pandemic itself is raising questions about the viability of many industries and business models which have in the past been part of our everyday lives. ... Read more

COVID-19: Answering our clients’ questions in the world of elevated uncertainty and poor returns

The impact of the COVID-19 outbreak on the global economy and financial markets has been severe. The scale of the sell-off, spike in volatility and subsequent rally illustrate just how challenging the environment is as investors grapple with a very wide range of potential outcomes. ... Read more

The opportunity in the COVID-19 storm

The COVID-19 outbreak has plunged the globe into chaos. We are in uncharted territory, from both a societal and financial market perspective. The policy response to the virus has come at a severe economic cost, with a collapse in demand and extensive disruption to supply chains. ... Read more

Navigating the storm in fixed income markets

The COVID-19 outbreak translated into broad-based weakness in emerging market assets as the outlook for global growth and the appetite for risk assets swiftly deteriorated. This resulted in a tough period for our clients, as we have favoured hard-hit nominal government bonds over other areas of the fixed income market. ... Read more


Portfolio Holdings as at 31 March 2020

  • Click here to view the portfolio holdings of the funds as at 31 March 2020

Performance to 31 March 2020

  • Click here to view the performance of the funds to 31 March 2020

Unit trust summary

  • Click here to view the unit trust summary of the funds as at 31 March 2020

PSG Angles and Perspectives: Q1 2020 (pdf)

  • Click here to view the full document in PDF

Archive of previous editions

  • Click here to view previous editions

Recommended Articles

Introduction Q1 2020

COVID-19: Answering our clients’ questions in the world of elevated uncertainty and poor returns

The opportunity in the COVID-19 storm

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