Gavin Corr, director - manager selection services at Morningstar, looks at the four key areas fund pickers need to keep an eye on amid recent market volatility.
February, and in particular March, have proven to be extraordinary months with some of the most volatile movements we have seen since the height of the Global Financial Crisis in 2008.
Markets have been roiled by the rapid escalation and globalisation of Covid-19 which has begun to have a dramatic and tangibly negative impact on the global economy, with evidence of slowing growth everywhere.
What was initially thought to be a supply side event that was disrupting global trade emanating from the Chinese manufacturing hub, is now turning out to be a demand shock as the consumer and corporates grind to a consumption halt.
Governments across the world are effectively putting their domestic economies into an "economic coma" until the spread can be slowed or halted, and then they can hopefully be rebooted.
This is an unparalleled situation where governments, central banks and Investors are dealing with many unknowns and uncertainties, and with little precedent to leverage off.
As investors grapple with what to do next, the performance of fund managers trying to traverse this volatility, and especially active managers has been interesting to observe.
The most notable features that we have seen over the past few weeks can be summarised under four main headings shown in the gallery above.