Global markets paused in November after a strong run through most of the year, as investors navigated an uneven macro backdrop marked by US policy uncertainty, mixed labour trends, and the effects of the 43-day government shutdown. Softer US labour indicators—including rising jobless claims and weak consumer confidence—helped stabilise Treasury yields. US government bonds led major fixed income categories with a +0.6% return as markets priced in a Federal Reserve rate cut in December.
Income+ Performance
Income+ Pure and Enhance continued to show resilience this month with a +0.46% and +0.75% increase respectively. With our selected best-in-class funds and Syfe’s active management, Income+ managed to ride on the movements in the bond market, offering stable yield potential while managing downsides.
Global bond markets rallied in November. 3 key factors driving the rally were – 1) Softening US Labor Data, 2) Strengthened Fed Rate Cut Expectations, and 3) Relatively Stable Macro Environment.
In a rate cut cycle like now, investor demand for viable income strategies continues to grow. Syfe Income+ remains a popular choice among those seeking steady monthly payouts, delivering a consistent 6%–8.6% p.a. payout. As yields on cash and short-term deposits start to decline, more investors are turning to Income+ as an alternative to traditional cash options while managing the risks.
Pure Individual Fund Performance
Enhance Individual Fund Performance
Performance Comparison vs Benchmark
Looking Ahead
Uncertainty is a constant in investing, but so is opportunity. Here’s what our investment team is focused on:
- The Fed anticipates further rate cuts in 2026 but slower, as inflation continues to reach 2%.
- We continue to take a long-term, data-driven view, focused on building resilient portfolios that can navigate both upside and downside risks.
- Staying invested is key. Time in the market rather than timing the market.
Please note that past performance is not indicative of future results. Investments are subject to market risks, including the potential loss of principal. The information contained herein is for general information and reference purposes only. Information on this website is not and should not be construed as an offer to sell, or a solicitation of an offer to buy any security, investment product or service, nor a distribution of information for any such purpose. It is not intended to form the basis of any investment decision. Investors should not make any investment decision based solely on the information and services provided herein. Before making any investment decision, investors browsing this website should consider his/her own circumstances including but not limited to his/her financial situation, investment experience and investment objectives, and should understand the nature, terms and risks of the relevant investment funds in detail. Unless otherwise specified, all historical figures shown are for illustration purposes only and not necessarily indicative of future performance. All forms of investment carry risks, including fluctuation of prices of fund units and the possibility of loss of the capital invested. Please ensure that you fully understand the risks and costs involved by reading the Risk Disclosure Statement. Some of the fund(s) mentioned above have not been authorised by the Securities and Futures Commission (“SFC”) in Hong Kong. Please seek professional advice from an independent financial consultant where necessary. Syfe Hong Kong Limited (“Syfe”) is a Hong Kong Corporation licensed by the SFC (CE No. BRQ741) under Types 1 (Dealing in Securities), 4 (Advising on Securities), and 9 (Asset Management) for conducting relevant investment activities.
