Nowhere to hide in Global Equities sector

Market upheaval causes mass exodus to developed markets as a consequence of managers' search for quality and protection from risk

Fund managers had their hands full over the 12 months to June 2009, during which time the S&P 1200 index was down 34%. While the previous 12 months were one of the most volatile periods for markets in the past 20 years, it was only a taster of what was to come in the second half of 2008. The collapse of Lehman Brothers in September prompted the failure of the banking system and saw markets fall to 70-year lows. However, it has not all been bad news. The worst market falls were over in a relatively short period, mostly October and November. While the market was down 51% in the nine mon...