August was another strong month for share prices. Even when investors temporarily turned away from artificial intelligence (AI) shares, more defensive names kept the rally going.
After several years of narrow markets, i.e. share price gains concentrated in just a few shares, our funds are now benefiting from a broader rally in a larger number of shares.
Inflation and rising bond yields are a concern, for shares as well as bonds. We continue be mindful of these risks, and we have put in place several non-bond diversifiers.
