My investment returns in June ’15Posted: 2015-07-06
My directly invested portfolio delivered one of its worst ever monthly returns in June. With preliminary numbers now in, I’m down about 3.4%. I’ve updated my returns page here.
What happened? In a word, Greece; markets were down everywhere, FTSE-100 was down over 6%, a particularly bad performance; European equities ex UK were down 4.4% (as so often, the UK is like an inferior version of the Euro, no matter what the ‘kippers will tell you); Australian equities were down about 4.6% (in GBP). Fixed income (at least the corporate bond types that I like) were down too: -3.2% in the UK, 2% in the USA, and 1-1.2% in Oz/ROW. When equities and fixed income are down everywhere, I will suffer.
Thanks to the suggestion of @RIT, I have started tracking the market returns in each geography/asset type that I track against. The back of my envelope suggests the markets I’m exposed to fell, weighted by my exposure, 4.4% last month. Against that backdrop, I’ll take a drop of 3.4%.
The real fun starts this week, now that Greece has overwhelmingly voted to have nothing to do with the reforms the Eurozone insists are required to stay in the Euro.