Market commentary and investment performance | First quarter (Jan. – March) 2021
Global equity markets, in calendar Q1 2021, continued the astounding climb out of last year’s pandemic-induced hole.
Fueled by central bank accommodation, government stimulus and growing vaccinations, domestic markets withstood rising bond yields, inflation fears and volatility (Russell 3000 +3.6%). Overseas, emerging markets were restrained by China (MSCI EM +2.9%), while developed markets, mainly Europe (MSCI EAFE +3.5%) outperformed. It was a tough quarter for fixed income (Barclays Agg -3.4%), note rising bond yields above.
Moving forward, global economies are in recovery mode and world markets look to follow suit.
Last 10 years | Last five years | Last three years | Last year | |
Overall NCCF (Wtd Avg.) | 8.0% | 10.3% | 10.0% | 42.7% |
NCCF Investment Fund | 7.2% | 9.4% | 9.4% | 41.6% |
Other Managers (Wtd Avg.) | 8.5% | 10.7% | 10.4% | 42.7% |
Broad Index | 7.6% | 10.3% | 10.2% | 36.4% |
Peer Benchmark | 7.5% | 10.5% | 9.6% | 43.8% |