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Market update 2 April: Hopes of an oil agreement

2 avril 2020
  • Trump confirmed that he has spoken with the two leaders of the countries and that he expects a deal on production cuts within days. China's plan to increase oil storage has also contributed to the increase in price.
  • On Wednesday, the S&P 500 and Dow Jones both closed down 4.4 percent.
  • Thursday morning started with the Oslo stock exchange up 1.7% and the oil price significantly up.
  • Yesterday afternoon the the manufacturing PMI and ISM numbers from the US came in slightly better than expected. However, both ended slightly below 50.
  • New orders and new export orders also fell below 50, but levels are far from what we saw during the Great Financial Crisis.
  • BRIC numbers also fell. Surprisingly, India is still above 50.
  • It is reasonable to expect numbers to fall further in April due to the massive shutdown from mid-March.

SKAGEN Funds Summary

  • No material changes.
  • The portfolio managers are having a lot of management calls with current and potential holdings.
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Les rendements historiques ne constituent pas une garantie pour les rendements futurs. Les rendements futurs dépendront, entre autres, de l'évolution du marché, des compétences du gestionnaire du fonds, du profil de risque du fonds et des frais de gestion. Le rendement peut devenir négatif en raison de l'évolution négative des prix. L'investissement dans les fonds comporte des risques liés aux mouvements du marché, à l'évolution des devises, aux niveaux des taux d'intérêt, aux conditions économiques, sectorielles et spécifiques à l'entreprise. Les fonds sont libellés en NOK. Les rendements peuvent augmenter ou diminuer en raison des fluctuations des devises. Avant d'effectuer une souscription, nous vous encourageons à lire le prospectus du fonds et le document d'information clé pour l'investisseur qui contiennent des détails supplémentaires sur les caractéristiques et les coûts du fonds. Ces informations sont disponibles sur le site www.skagenfunds.fr. Storebrand Asset Management administre les fonds SKAGEN qui sont, par convention, gérés par les gestionnaires de portefeuille de SKAGEN.

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