Strategy

Pandemic immunity

We ask which global equity trusts have outperformed through the different stages of the pandemic…
David Johnson
Last update 19 August 2021

Disclosure – Non-substantive Research

This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. With this commentary, Kepler Partners LLP does not intend to influence your investment firm's behaviour. 

Since the start of 2020 global equity markets have been on a pandemic-driven roller-coaster ride, seeing many stages of an economic cycle condensed into the last 19 months. Yet thanks to the effective roll-out of vaccines we are beginning to see the light at the end of the tunnel. As equity markets show signs of normalisation we take the opportunity to review the AIC’s Global sector, examining how its constituents performed over the four major periods of the pandemic: the initial crash, the subsequent rally, the value rotation and the ‘slow grind upwards’ markets seem to currently be in. Through this review process we identify a small cohort of trusts which have been able to outperform global equity markets in at least three of the four phases, if not all four.

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