Q4 Performance Reports

James Hoare

26 January 2021

The MPI Performance Reports for Q4 2020 are now available online for you to view and download. To obtain your copy please click the button below.

The table above shows a summary of the Q4 performance calculated from over 130,000 real client portfolios submitted by over 50 contributing managers. 

Investment Managers Survey

Over the fourth quarter, the MPI peer group indices again achieved positive returns for Sterling, Dollar and Euro across all three risk categories. Three successive quarters of strong performance has reversed the drawdowns and mean that all indices have ended up the year in positive territory. Overall, Dollar portfolios performed better than Sterling and Euro, reflecting the continuing strong performance in US equities. While performance in October was weak due to concerns of a second wave of COVID cases, good news on the vaccine front in November proved to be very positive for client portfolios with returns similar to those seen in the April rebound.

According to our survey of contributing managers, there was a significant trend to redeploy cash and government bonds into equities. We also saw a rotation out of defensive stocks and into more cyclical holdings. US Dollar holdings were reduced and positions in Gold, which saw inflows last quarter, were generally maintained. Overall most managers reported that they were ‘more optimistic’ than the previous quarter with only one manager saying they were ‘less optimistic’.