PARAA - Matrix Asset Advisors Q1 2024  Capital Markets Commentary And Quarterly Report

2024-05-22 05:30:00 ET

Summary

• Matrix Asset Advisors is a registered investment advisor. The firm is 100% owned by its employees. Matrix is led by David A. Katz, CFA, a co-founder of Matrix, who created the firm’s investment valuation models.
• Matrix’s Large Cap Value portfolio showed strong performance results in Q1 2024, posting a high single- digit return.
• The Matrix Dividend Income portfolio had a good start to the year with a mid-single digit return.
• In Q1 2024, fixed income performance was flat to down depending on maturity.
• Balanced accounts were up in Q1, benefiting from our overweight to stocks, during a period of strong gains.

Capital Markets Highlights

The U.S. stock market[1] is off to a strong start in 2024. In Q1, the S&P 500® ( SP500 , SPX ) gained 10.56%. Though the leadership groups in 2024 so far have mostly been a continuation of last year's trends, the rally has also significantly broadened, with the equally weighted S&P 500® up 7.91% and all but one of the 11 S&P 500® sectors gaining (real-estate was down modestly). The Technology sector was the most significant contributor to the market's return in Q1, with some of the best gains for companies with businesses related to artificial intelligence. Other leading market sectors in Q1 2024 were Financials, Communications Services, and Healthcare.

In Q1, stocks got no help from the bond market as interest rates rose following stronger-than-expected economic data, some mildly disappointing inflation reports, and higher energy prices. The yield on the 10-year Treasury rose during the quarter from 3.88% at year-end 2023 to 4.20% at the end of Q1 2024. Fixed income returns [2]were generally flat to modestly lower for the quarter, with interest earned mostly offsetting the price declines from higher yields....

For further details see: