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  "authorName": "J.P. Morgan Asset Management",
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      "text": "despite average intra-year drops of 14.6% (median 10.5%), annual returns are positive in 29 of 40 years",
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      "text": "Source: LSEG Datastream, MSCI, J.P Morgan Asset Management. Returns shown are price returns in local currency. Intra-year decline refers to the largest market fall from peak to trough within the calendar year. YTD is year-to-date. Past performance is not a reliable indicator of current and future results. Guide to the Markets - UK. Data as of 31 March 2026.",
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      "text": "MSCI World intra-year declines vs. calendar-year returns\n%; despite average intra-year drops of 14.6% (median 10.5%), annual returns are positive in 29 of 40 years",
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