| Bulls fought with bears over the just-ended first quarter of 2008 and bears overwhelming won this round. Riding on long-lasting credit crunch, likely recession and re-fuelled inflationary pressure, bears sent the global equity market a sharp tumble. Last quarter, MSCI World Index lost 8.9 percent, where financials and tech stocks led the down run. Amid the woes, low-risk assets such as bonds earned investors' appeals. Fed's bail-out campaign under spotlight Inasmuch as the credit woes spread far beyond public's anticipation, Federal Reserve took some breathtaking gambits to rescue the economy in jeopardy. First of all, the Fed created several unordinary vehicles, like Term Auction Facility, TAF, SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk
Audience Confirmation     |
Fund Performance Review (1Q2008) : Woes dominated
Bulls fought with bears over the just-ended first quarter of 2008 and bears overwhelming won this round. Riding on long-lasting credit crunch, likely recession and re-fuelled inflationary .....
Morningstar Analysts
30.04.2008
