So far from 2022 -January to April- negative results are observed for all multi-funds, except for E.
In April 2022, the pension multifunds obtained mixed results.
Funds A and B posted losses of -0.98% and -0.38% respectively; the fund C, of moderate risk, fell -0.01%Meanwhile he D and E made gains of 0.53% and 1.08% each.
According to the consulting firm Ciedess, the results of April were marked by the outbreak of the pandemic in China and the Russia-Ukraine conflict at the international level; and the rejection of the fifth withdrawal in our country.
And so far this year -January to April- negative results are observed for all multi-funds, except for E.
Funds A and B registered drops of -12.91% and -9.81%, while fund C presented a variation of -6.94%. The most conservative funds obtain mixed results, with a fall of -1.47% on D and an increase of 2.90% on E.
The reasons
According to Ciedess, the monthly result (April) of multifunds A, B and C is mainly explained by the variation in the prices of variable income instrumentswhich was observed in the negative results of the main international indices, which were partially cushioned by the dollar rise; while at the local level a more limited fall was registered.
The consultant indicated that “the markets continue to be affected by the pandemic, highlighting the new quarantines in China. However the The main source of uncertainty has been the extension of the Russia-Ukraine conflictwhich has impacted the main stock markets in the world, with falls in Europe and Asia, and increases in the prices of most raw materials”.
For its part, investment abroad benefited from the 8.82% rise in the dollar, which had a positive impact on the riskiest funds.
At the local level, the IPSA registered a nominal decrease of -3.21%explained mainly by actions of the services and natural resources sectors.
Funds D and E
According to Ciedess, the profitability of April of the most conservative funds (D and E) impacted the results of investments in local debt securities and the performance of foreign fixed income instruments.
“While at the global level, there was a negative contribution from international fixed income (LEGATRUU Index fell -5.48%), at the local level there was a drop in interest rates on fixed income instrumentswhich positively impacted conservative funds through capital gains, highlighting the rejection of the fifth withdrawal of funds”specified the consultant in its report.