World Asset Classes – Q3/2014

The broad US equity market had flat-to-slightly-positive returns for the quarter. Small cap stocks in the US under-performed large cap stocks, with US small cap indices posting negative returns. Most equity markets outside the US had negative performance in US dollar terms. Currency movements played a role; the dollar appreciated against most currencies. In developed markets outside the US, large cap indices outperformed small cap indices. In the emerging markets, however, small cap indices outperformed large cap indices. Value under-performed growth indices in developed markets across size ranges, but in emerging markets value outperformed growth in large caps but under-performed in small caps. REITs recorded negative returns in the US and in developed non-US markets…
Read our Third Quarter Newsletter for 2014.