Quarterly Recap: April-June 2015

world.2015-03-31.2015-06-30

Equities

Major
DAX(DEU) -8.53%
CAC(FRA) -4.84%
UKX(GBR) -3.72%
NKY(JPN) +5.69%
SPX(USA) -0.77%
MINTs
JCI(IDN) -10.94%
INMEX(MEX) +2.75%
NGSEINDX(NGA) +5.37%
XU030(TUR) +1.37%
BRICS
IBOV(BRA) +3.41%
SHCOMP(CHN) +13.26%
NIFTY(IND) -0.71%
INDEXCF(RUS) +1.74%
TOP40(ZAF) +0.27%

Commodities

Energy
Heating Oil +9.46%
Natural Gas +6.38%
Ethanol +8.99%
WTI Crude Oil +22.10%
Brent Crude Oil +13.69%
RBOB Gasoline +14.29%
Metals
Copper -4.73%
Gold 100oz -0.74%
Platinum -4.72%
Palladium -6.21%
Silver 5000oz -6.02%

Currencies

USDEUR:-3.59% USDJPY:+2.18%

MINTs
USDIDR(IDN) +1.84%
USDMXN(MEX) +3.22%
USDNGN(NGA) -0.14%
USDTRY(TUR) +3.21%
BRICS
USDBRL(BRA) -3.60%
USDCNY(CHN) +0.03%
USDINR(IND) +1.85%
USDRUB(RUS) -4.47%
USDZAR(ZAF) +0.08%
Agricultural
Coffee (Robusta) +11.08%
Soybeans +7.68%
Cattle -8.30%
Cocoa +12.52%
Coffee (Arabica) -1.39%
Corn +9.44%
Feeder Cattle -1.47%
Lean Hogs +22.31%
Lumber +3.67%
White Sugar +3.99%
Cotton +6.00%
Soybean Meal +9.66%
Sugar #11 +4.00%
Wheat +17.70%
Orange Juice -7.16%

Credit Indices

Index Change
Markit CDX EM +3.41%
Markit CDX NA HY -1.55%
Markit CDX NA IG +3.77%
Markit iTraxx Asia ex-Japan IG +9.21%
Markit iTraxx Australia +11.15%
Markit iTraxx Europe +16.41%
Markit iTraxx Europe Crossover +27.41%
Markit iTraxx Japan +4.29%
Markit iTraxx SovX Western Europe +0.46%
Markit LCDX (Loan CDS) -0.19%
Markit MCDX (Municipal CDS) +5.20%
European markets got shellacked and global markets went from obsessing over Fed rate hikes to Grexit. We had our own monsoon scare and bond market turmoil even though the RBI is on an easing path…

Index Returns

index.performance.2015-03-31.2015-06-30

Market Cap Decile Performance

Decile Mkt. Cap. Adv/Decl
1 (micro) +4.17% 68/64
2 +9.23% 69/62
3 +6.79% 73/58
4 +5.28% 71/61
5 +2.42% 62/69
6 +0.91% 61/70
7 -1.04% 57/75
8 -1.14% 60/71
9 -5.65% 59/72
10 (mega) -0.60% 58/74
Large-caps held steady…

Top Winners and Losers

BAJAJ-AUTO +26.05%
GLENMARK +26.46%
BRITANNIA +28.00%
CANBK -24.46%
TECHM -24.12%
SRTRANSFIN -23.41%
Looks like Bajaj Auto finally turned the corner…

ETF Performance

CPSEETF +3.18%
BANKBEES +1.65%
JUNIORBEES +1.51%
GOLDBEES +0.87%
NIFTYBEES -0.83%
INFRABEES -2.69%
PSUBNKBEES -4.35%
PSU Banks were the most despised asset class…

Yield Curve

yieldCurve.2015-03-31.2015-06-30

Bond Indices

Sub Index Change in YTM Total Return(%)
GSEC TB -0.36 +2.06%
GSEC SUB 1-3 +0.07 +1.73%
GSEC SUB 3-8 +0.07 +0.10%
GSEC SUB 8 +0.39 -1.09%
Yields went up…

Interbank lending rates

mibor.30days.2015-06-30

Investment Theme Performance

Equity Mutual Funds

Bond Mutual Funds

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