With current enthusiastic responses towards artificial intelligence (AI) and a strong end to the US earnings season for March, this resulted in US markets hitting record highs. Global markets are subsequently higher, with STI seeing an increase of 2.6% month-on-month (m-o-m).
The team at UOB Kay Hian (UOBKH) says its alpha picks portfolio has met a “robust” end to the 1Q2024 driven by broad-based strength across its portfolio. The team’s alpha picks portfolio for the month of March outperformed the benchmark Straits Times Index (STI) by a material 3.40 percentage points (ppt) and 2.90 ppt on an equal- and market-weighted basis respectively.
With UOBKH’s portfolio increasing by 13.7 ppt quarter-on-quarter (q-o-q), it has the STI beat once again by a margin of 14.2 ppt q-o-q.
