As the current market environment continues to rapidly evolve, we remind investors that reviewing the history of business cycles, returns, and valuations can help provide a framework for understanding the market today. Our 2019 edition of Decades of Data presents historical analysis on economic indicators, equity, fixed income, and cash markets across eight geographies over the very long term.
Of active emerging markets equity managers, 64% outperformed the MSCI Emerging Markets Index gross of fees in 2019 after three consecutive years of underperformance. This is a companion piece to the US, Global, and Global ex US charts books already published.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Are frontier markets corrupt, politically driven, and dangerously speculative? Or, are they budding blossoms destined to deliver strong returns? This publication aims to help investors to decide whether and how to integrate FM equities into portfolios, assess underappreciated FM risks, and discuss implementation considerations.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
The median US Mid-Cap Growth Equity manager posted the highest median return for first quarter 2019, returning 19.3%. For the one-year period ending March 31, 2019, the median US Real Estate Investment Trust manager posted the best return (18.8%).
More than 63% of active emerging markets equity managers underperformed the MSCI Emerging Markets Index gross of fees in 2018, marking the third consecutive year of underperformance. This chart book is our annual summary of the absolute and relative performance of managers that report to our database. This is a companion piece to the US, global ex US, and global equity manager performance chart books already published.
While we have advised a gradual approach to investing in China, today we believe that investors should take a systematic and comprehensive approach, overweighting Chinese assets relative to their index weights. Looking past the uncertainty and negativity, investors will find a large investment opportunity set, a robust universe of public and private managers, and appealing public equity valuations.
This chart book presents representative long-only and hedge fund manager performance for fourth quarter 2018. The median US Core Bonds manager posted the highest median return for fourth quarter 2018, returning 1.4%. The median Cash Management manager posted the best returns for the one-year period ending December 31, 2018, with a return of 2.0%. The median US Small-Cap Growth Equity manager posted the lowest median return for fourth quarter 2018 (-20.4%). The median Global ex US Small-Cap manager suffered the worst performance (-19.1%) for the one-year period.