Global indices have been hit hard since the outbreak of Covid-19 wreaked havoc in markets worldwide.
All MSCI indices were down by about 30% year-to-date towards the end of March as uncertainty continued and central banks and governments scrambled to mitigate the economic and social consequences.
In the words of Hortense Bioy, director of passive funds and sustainability research at Morningstar, “these are crazy times”.
It is a sentiment echoed across the asset management industry and beyond. Market volatility looks set to continue for the foreseeable future.