China and momentum top MSCI in July

Added 11th August 2017

China was the best performing country last month for equity investors, while momentum beat other factors like quality, index provider MSCI has reported.

China and momentum top MSCI in July

Compared with the All Country World Index (ACSI) benchmark, which produced returns of 2.8%, China generated 8.9%, making it far and away the best performing country on a total return basis.

The second best performing country of the month, Australia, produced returns of 4.4%, while Switzerland fell to the bottom of the leaderboard, returning a disappointing 0.9%.

Looking at year-to-date returns, China also remained top of the pack having produced returns of 36.1%, followed by Korea (33%) and France (21.3%).  

The UK, which was the single worst performing country in June, was in the middle of the pack in July, returning 2.6%, just under the ACWI.

Over July, momentum was the best performing factor, returning 3.5% versus the ACWI’s 2.8%.

Year-to-date, momentum produced returns of 20.8%, beating enhanced value (15.7%), quality (16.6%) and high dividend yield (12.4%).

The weakest factor so far this year has been minimum volatility USD, which generated returns of just 11.9%.

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