Monthly comment for September 2015

After the extreme volatility of August, September was certain to be a calmer month, but the market is still characterized by fear, and although the VIX is declining, it is still significantly higher than at the beginning of August.

Emerging markets in particular are exhibiting nervousness these days. One factor is that earnings growth in the MSCI Emerging Markets has been flat in recent quarters, partly because investors in emerging-market countries fear that higher interest rates in the US will result in capital heading out of the EM nations and into the United States.

Read more here.


Our mission is to deliver the best long-term performance with a strong emphasis on risk. Based on a systematic and objective approach to investment - and a great commitment.


Privacy policy   |   Cookie policy

Before continuing, please refer to the “Terms of use”. Availability of our products and services is subject to certain restrictions, products and services may be  excluded in some countries. Copyright 2012 by Sparinvest S.A. - all rights reserved.

Please read these conditions before continuing. The products and services offered on this website are not available to persons with residence in particular countries. Please take note of the currently valid sales restrictions for the respective services.