March was a more challenging month as several risk factors converged to increase market volatility. Geopolitics in the Middle East became a clear driver, particularly via rising energy prices that impacted inflation and interest rate expectations. Expectations of rapid rate cuts were postponed and both equity and fixed income markets moved more erratically.

Volatility rose significantly, increasing the need for active risk management. The energy sector performed stronger, while growth sectors were pressured, and gold acted as a defensive asset.

Heading into April, uncertainty is expected to continue, with a focus on geopolitics, energy and inflation. The market is expected to remain volatile, making flexibility, discipline and robust portfolio management crucial.

For investors seeking flexible strategies with active risk management and the ability to exploit larger market movements, Crescit offers an attractive positioning in the current market climate.