Business Services | First Quarter 2021
May 2021 – After nine months of uncertainty and unprecedented disruption related to COVID-19, investor demand for Business Services related investments surged in Q1 2021, as expectations of a rapid economic recovery from the vaccine roll-out fueled an outlook for rapid growth in the sector. The SOLIC Business Services Sector Index (“SBSS Index”) was up 7.5% in Q12021 compared to an increase of 1.6% for the S&P 500. Virtually all industry sub-sectors of the SBSS index outperformed the broader markets as investors bet that companies will need to make significant use of outsourced service providers as they reopen and adjust to employee and customer dislocations from the past year.
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