Tech dominance in May overshadowed flat returns on most asset classes
The tech sector dominated global equity markets in May. Investors have shifted their focus to artificial intelligence, which lifted the Info Tech sector by 8% last month. This overshadows a general negative return development in most other parts of the equity market. The Energy and Materials sectors were at the bottom of the return hierarchy with returns of -9% and -7%, respectively. Overall, MSCI ACWI decreased by 0.3% measured in local currencies, while the index increased by 2.5% measured in DKK.
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