March 2021: Performance Update

Monthly Performance Report March 2021

As we have been echoing throughout Sowell’s weekly commentary, the economy continues to rebound from the covid pandemic woes and unlike 2020 much of March and most of 2021’s equity markets are riding the Value and Interest Rate wave, a market phenomenon not seen since the 2000-2005 timeframe if this continues. The S&P 500 posted strong gains of 4.4% in the month of March but underneath it all tells a much different story. Value stocks (underpinned by Financials and Industrials) trounced Growth stocks (underpinned by Technology and Consumer Discretionary) by 4.4% in March as reflected by the table below and the accompanying StyleAnalytics report.

February 2021: Performance Update

Monthly Performance Report February 2021

Fueled by improving economic conditions and market liquidity from the expectation of Biden’s pandemic stimulus, on the surface equity markets measured by the S&P 500 again posted another month of strong gains returning 2.76%. However, the composition of those gains extended over the last six-months tell a vastly different story from the last several years which was largely led by high growth stocks. Unlike 2020 where over a period of 8 consecutive months growths stocks (i.e., Technology and Consumer Discretionary) outperformed value stocks (i.e., Financials and Industrials), over the last 6 months value stocks outperformed growth stocks by a cumulative margin of

January 2021: Performance Update

Monthly Performance Report January 2021

2021kickstarted in lackluster territory following a record 2020 with stocks and bonds, S&P 500 and Bloomberg Barclays US Aggregate, respectively returning -1.01% and -0.72%. A closer examination points to large-cap stocks giving back some of the recent gains and longer-dated Treasuries selling off as yield spreads widened along the yield curve. However, the headline to start the year is categorically smaller cap stocks finally break free after years of disappointment gaining a positive return of 5% outperforming large-cap stocks by 6%. We are pleased to report a majority of Sowell’s main strategies and series outperformed, and in select cases posted positive returns, relative to the S&P 500 and Bloomberg Barclays US Aggregate losses attributed to our strategic positioning.

Sowell Management Continues Expansion, Hires Krier As Managing Director Of Business Development

Sowell Management is expanding its business development team, hiring a new managing director of business development.
Amber Krier has been named to the new managing director role, where she will oversee the firm’s growth opportunities. In addition, Krier will be responsible for heading up Sowell Management’s comprehensive relationship management and identifying the best solutions to serve the firm’s advisors.

Bill Sowell standing in front of Sowell Management logo

Pushing to Put Investors First

For Bill Sowell, “fiduciary” is more than a word, even more than a duty.
It’s his business philosophy. As CEO of Sowell Management, a registered investment adviser in North Little Rock, he embraces a legal obligation to put clients’ financial interests first. And he’s frustrated that the requirement doesn’t apply to everyone across the investing industry.

Sowell Management, Local Hidden Treasure

As financial
headquarters
Management’s
nothing to sneeze at, is far from a towering glass-and-steel edifice befitting Gordon Gekko of Wall Street fame. Tucked into an office park just yonder of Maumelle, the single-story building is custom-built but to a passerby might serve one of a thousand utilitarian purposes. Inside, the open, functional space seats its occupants comfortably if not lavishly, right down to senior management offices. Family photos dot desks and scenes from Arkansas’ outdoors hang on the wall.

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