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2014 In Review, Quarter 4

by Sergio Mariaca |Share:

REITs, particularly in the US, had higher returns than most asset classes in the fourth quarter, outperforming equity indices. US equities performed better than non-US developed and emerging markets.  Many equity markets outside the US declined in US dollar terms.  Currency movements played a role;the dollar appreciated against most currencies. Small caps outperformed large caps in the US. In developed markets outside the US, small caps slightly outperformed large caps but underperformed in emerging markets. Broad market value indices outperformed growth indices in the US but underperformed in developed markets outside the US and in emerging markets. The results were mixed across size ranges in the various markets.

2014 In Review, Quarter 3

by Sergio Mariaca |Share:

The broad US equity market had flat-to-slightly-positive returns for the quarter.  Small cap stocks in the US underperformed 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 underperformed growth indices in developed markets across size ranges, but in emerging markets value outperformed growth in large caps but underperformed in small caps.  REITs recorded negative returns in the US and in developed non-US markets. 

2014 In Review, Quarter 2

by Sergio Mariaca |Share:

Equity markets posted positive performance for the quarter-led by emerging markets. This was the first quarterly period in which emerging markets had outperformed developed markets since the third quarter of 2012. REITs both in the US and in developed non-US markets outperformed equities. Large cap indices outperformed small cap indices in the developed and emerging markets, including the US. In general, value outperformed growth indices, though performance was mixed within size ranges and regions. 

2014 In Review, Quarter 1

by Sergio Mariaca |Share:

US REITs rebounded in the first quarter after declining in Q4 2013. Equity returns were mostly positive but lower than they were during much of 2013. While large caps in emerging markets lagged other equity asset classes, small caps in emerging markets were the top performers.