It was a turbulent quarter for assets as aggressive monetary tightening rippled through markets. Risk-off became a persistent theme into quarter end.

It was a turbulent quarter for assets as aggressive monetary tightening rippled through markets. Risk-off became a persistent theme into quarter end.
Rising inflation, labour shortages, war in Ukraine and persistent supply chain issues weighed on equity and bond markets during the second quarter.
The invasion of Ukraine by Russia on February 24th added significant complexity to an already intricate economic backdrop.
The QV equity strategies produced excellent results in the year; not only on an absolute basis, but also outperforming their respective benchmarks.
Over a year has passed since the bottom of the pandemic-induced global bear market. Financial markets continued to focus on the light at the end of the tunnel.
While stocks proved to be a roller-coaster ride in 2020, bonds fulfilled their typical defensive role, and then some.