 "hybrid funds")
International funds focused on the United States (US) market have taken a severe beating in this calendar year. These funds have fetched year-to-date (YTD) returns ranging from -3.8 to -28.9 per cent.
Inflation and rate hikes took a toll
One of the key reasons for the market downturn in the US is high inflation. “Inflation has been at the higher end in the US for almost a year. The Russia-Ukraine war has compounded the problem by raising energy prices,” says Pratik Oswal, head–passive funds business, Motilal Oswal Asset Management Company (AMC).
