Pension multi-funds with mixed results so far in July: Two of them post losses | Economy

So far in 2022, meanwhile, negative results are seen for all multifunds, except for E.

The pension multi-funds -with quota values ​​on the 24th- register mixed results so far in July.

The riskiest funds, A and B, record gains of 0.29% and 0.28% respectively, while the fund C, of ​​moderate risk, presents a fall of -0.05%.

The most conservative get mixed results, with a loss of -0.02% for D and a rise of 0.32% for E.

According to a bulletin from the consulting firm Ciedess, the factors that influenced the results were “the persistent uncertainty in the markets due to covid, the monkey poxthe Russia-Ukraine conflict and fears of global recession, added to inflationary pressures and political uncertainty at the local level.

Meanwhile, so far in 2022 (January to July) Negative results are observed for all multifunds, except for E.

Funds A and B registered falls of -12.71% and -9.49%, respectively, while fund C presented a variation of -6.66% and D of -0.97%. While the E is the only one that records gains of 4.26%.

What happened to the markets in July

According to Ciedess, the monthly result (July) of multifunds A and B is mainly explained by the variation in the prices of variable income instruments.

“Externally, mixed results are observed in the main international indices, being complemented by the dollar rise; while at the local level a profit is recorded,” said the consultant.

Likewise, the markets continue to be affected by the pandemic (highlighting the zero covid strategy in China) and the Russia-Ukraine conflict, where Inflationary pressures have driven rate hikes in most countries and the emergence of fears of an eventual global recession.

Nationally highlights the central bank intervention due to the rise of the dollar.

The consultant said that, instead, the performance of the more conservative funds D and E is explained by the results of investments in local debt securities and the performance of foreign fixed income instruments.

“Externally, there is a positive contribution from international fixed income and, at the local level, a drop in the interest rates of medium and long-term fixed income instruments in UF is observed”he pointed out.

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