Practical asset management: do it yourself, or entrust it to a pro

Ádám Halóka
Investment expert

Last month was the best September in the history of the US stock market since 1939, as the S&P500 index rose by 8.9% after an August that had, by contrast, turned out to be the worst period in 30 years. The shareprice movements point to a high degree of high volatility; however, the US index remained within the previously established band until the end of the month, when it managed an upward surge, giving an impetus to those of the emerging market equities that were already breaking their earlier records, of which India (11%) and Turkey (10%) stood out the most this time.

The other emerging markets, however, were only characterised by restrained optimism, as Europe (+1.5%) continues to be held back by the economic problems of the PIGS group of countries, while in Japan (+3.1%) it was only the central bank’s currencymarket intervention to curb the strengthening of the yen that gave any reason to be optimistic. (All yields are stated in their respective currencies. Due to the 5-10% strengthening of the forint, the yields expressed in the Hungarian currency do not fully reflect the increases that took place in the stock markets.)

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