The Fed’s aggressive shift from dependable monetary accommodation to panicked tightening that aims to quell inflation has led to a combination of rapidly rising rates, flattening yield curve and wider credit spreads, which have pummeled bondholders.
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Global real estate stocks posted losses in the first quarter of 2022, with macroeconomic uncertainty exacerbated by geopolitical tension driving a sell-off in listed real estate prices. The FTSE EPRA Nareit Developed Index (the “Index”) had a total return of -3.77% for the quarter, while the Easterly Global Real Estate Fund generated a total return of -3.15%, outperforming the Index by 62 basis points.
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Throughout the first quarter of 2022, media headlines and investor sentiment were as volatile as the markets themselves. 2022 began with the end of the pandemic and its restrictions in clear sight, strong backlogs across multiple sectors, optimistic business sentiment, low interest rates, pent-up consumer demand, and healthy corporate and consumer balance sheets.
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The 1st quarter of 2022 was a powerful reminder that risk is an ever-present reality in the markets. The concerns in our Q4 2021 note, that the normalization of interest rates would be significant and could last for years, is coming to fruition.
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Over the last several years, sophisticated institutional investors have increasingly begun to recognize the benefits of complementing their private real estate allocations with strategic, long-term allocations to listed real estate.
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Easterly Funds is pleased to announce that the Easterly Income Opportunities Fund (JASSX) has received a 2022 Lipper Fund Award in the U.S. Mortgage Funds category out of 116 funds for a three-year period as of 12/31/2021.
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Market Summary: Spurred by record corporate profits, a booming economy with healthy wage gains and $2.7 trillion of excess savings amassed during the pandemic, risk assets had a strong finish to 2021 as they successfully navigated a “wall of worry”, including a Federal Reserve that is becoming less accommodative. The S&P 500 posted an 11.0%…
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Easterly Funds is pleased to announce that the Easterly Snow Long/Short Opportunity Fund (SNOIX) has earned a Morningstar Rating™ of four stars in the category of Long-Short Equity Funds out of 179 funds, as of December 31, 2021.
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The 4th quarter of 2021 was what we believe to be a powerful continuation of the bull market that seemed to confound the realities of an uncertain Omicron outlook and a more hawkish communicating Federal Reserve.
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Download PDF Review of Q4 2021 Market and Fund Performance Global real estate stocks posted strong gains in the fourth quarter of 2021 with healthy economic signals offsetting concerns regarding the spread of the Omicron variant, rising inflation and the transition to tighter monetary policy. The FTSE EPRA Nareit Developed Index (the “Index”) had a…
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