Publication Date: 09 March 2023
This report, issued by the Research Department of Teaser Platform, reviews the annual performance of Morocco-focused equity funds in 2022, assessing market conditions, sector performance, fund-level returns, and asset managers’ weighted average performance.
The findings indicate that the Moroccan All Share Index (MASI) declining by 19.75% and market capitalization falling to its lowest level since 2015 amid broad-based sector losses.
Despite the market downturn, a limited number of equity funds demonstrated relative resilience, with the best-performing funds recording single-digit declines, while the asset-weighted average return across the equity fund universe stood at -16.26%.
Overall, the report highlights the impact of adverse market conditions on Moroccan equity funds in 2022 and underscores the importance of active management and sector allocation in mitigating downside risk during periods of heightened volatility.
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