Market Matters: December 31, 2023
Risk assets soared in Q4, sending calendar-year returns for several asset classes to multiyear highs.
Equities
US Manager Universe Statistics: Third Quarter 2023
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.
2024 Outlook: Public Equities
We expect global equity performance will be below its long-term median level, but we believe investors should hold equity allocations in line with policy targets. Within equities, we see opportunities in developed value, developed small caps, and China. We doubt European and emerging markets ex China equities will outperform, and we believe the share of active strategies that outperform will increase.
Market Matters: November 30, 2023
Global equities enjoyed a blockbuster month, up 8%, led by the United States.
Do Shifting US-China Geopolitics Create Investment Opportunities Elsewhere in Asia?
Yes, US-China geopolitical realities are already having an impact on trade and investment flows within Asia. China will remain an important destination for investor capital, but the shift in capital flows, alongside positive domestic structural developments in other parts of Asia, create investment opportunities beyond China that deserve a closer look.
Market Matters: October 31, 2023
Risk assets broadly declined in October.
US Manager Universe Statistics: Second Quarter 2023
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.
VantagePoint: Asia Opportunities Amid Shifting Geopolitics – Part II
The shifting geopolitical realities between the United States and China have already impacted trade and investment flows. In this two-part series of VantagePoint, we review this reality and consider investment implications alongside those of other key factors—such as domestic structural developments, macroeconomic conditions, and valuations. In Part I, we focused on opportunities in China specifically. In this companion piece, we discuss investment opportunities beyond China.
VantagePoint: Asia Opportunities Amid Shifting Geopolitics – Part I
The shifting geopolitical realities between the United States and China have already impacted trade and investment flows. In this two-part series of VantagePoint, we review this reality and consider investment implications alongside those of other key factors—such as domestic structural developments, macroeconomic conditions, and valuations. In Part I, we focus on opportunities in China specifically, and in Part II, we discuss other Asian investment opportunities beyond China.
Israel-Hamas War Highlights the Importance of Diversification
The devastating loss of life resulting from Hamas’s surprise attack on Israel is at the forefront of our concerns. Risk of a prolonged conflict in the region has grown, creating a new layer of uncertainty on many fronts, including the global economy and markets.