For June, the weaker US Dollar (USD) masked down the returns of all MYTHEO functional portfolios in Malaysian Ringgit (MYR) as only the Growth and Inflation Hedge portfolios were up, while the Income portfolio declined.
MYTHEO will soon be approaching its 1-year anniversary this 28 June 2020. As the 1st Digital Investment Management (DIM) service by a Malaysian fintech company, we have had an amazing year growing more than 22% on a month-to-month basis.
The financial market continues trending upward for a second month. In the past year, the US market and US Dollar assets have been pivotal to MYTHEO’s performance. However, it went the other way around in May, as international assets and non-USD exposures performed much better.
Economic red flags were scattered across April 2020. The International Monetary Fund (IMF) forecasted that the current global economic downturn is much deeper than that of the financial crisis in 2008. Amazingly, all the negative news of bad economic data and dovish forecasts did little to stop the stock market from rallying.
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