ETF Performance Report April 2024

Overall global equities edged lower last month whereby the MSCI World Index retreated from its recent YTD high over escalated geopolitical tensions in the Middle East in the mid-month. During the same period, investors also dialled back their expectations on the trimming of Federal Fund Rate Target over high inflation data reported in the US. Moving towards the end of the month, MSCI World Index staged an uneven rebound as investors scaled back on fears over geopolitical tension. Nonetheless, the index closed 3.9% lower versus last month.

With gold being considered as a safe haven asset, the LBMA Gold Price AM closed 4.9% higher MoM at USD2,314.8 per troy ounce over heightened tension in the Middle East. Accordingly, GOLDETF’s total volume / value traded expanded by 50.0% / 64.2% from the previous month to 1.9 mil units / RM6.6 mil.