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.
No, we don’t think so. The quality of companies today is higher and speculative excesses are less extreme. However, risks are elevated in mega-cap tech stocks, though less pronounced than in the dot-com days, and we recommend modest tilts to developed markets small-cap and value equities to help balance portfolios.
Although no single strategy can address all challenges related to saving for retirement, adopting a hybrid approach represents a significant initial step toward improving retirement savings outcomes—for employers and employees alike.
No. All three factors have weighed on euro area equity and currency markets to some extent in recent months, but we recommend continuing to hold euro area equities at benchmark weights.
Most risk assets enjoyed strong returns in the calendar year (CY) ended December 31, 2024. US equities led on better-than-expected economic data and AI-related growth.
Global equities advanced in January as cooling inflation and US tariff delays catalyzed a risk rally in the second half of the month.
The start of the year is an ideal time to review investment practices and procedures to ensure you are set up for success. In this edition of VantagePoint, we outline the following five key investment pitfalls that can steer investors off course and offer guidance on how to avoid them: 1) Taking too little risk; 2) Firing excellent managers after a bout of underperformance; 3) Sizing individual positions too large; 4) Misunderstanding liquidity risk; and 5) Failing to exercise strong governance.
No, we don’t think so. While President Donald Trump made numerous campaign pledges that could be seen as beneficial, US large-cap stocks will need more than policy shifts to outperform US small-cap stocks in 2025.
Global equities advanced in Q4 as performance diverged among regions.
We expect developed markets value and small-cap equities to outperform, given our economic views and their steep valuation discounts. Regionally, we believe US equity performance will not match the level set in 2024, allowing European, Japanese, and emerging markets equities to perform more in line with broader developed markets. Within emerging markets, strong Indian equity gains should moderate, while we doubt Chinese equities will collapse. At the same time, we expect long/short equity strategies will perform better than typical.