By Greg Smith, Head of Retail at Devon Funds
While the weather in the upper North Island has made for a challenging start to the year, it has been a very different story for markets, which globally have enjoyed a very strong rally thus far in 2023. The US indices have set the tone, with the S&P500 having had its best January in four years with a gain of 6.3%. Technology stocks have driven the momentum, with the Nasdaq up 10.7% and enjoying its best January since 2001.