Most equity indices hit new highs in the middle of August before some profit taking set in during the latter part of the month. Most major indices managed to hold on to positive returns for August. The S&P 500 inched ahead by 0.14% for the month. Small cap stocks, as measured by the Russell 2000, fared better, increasing by 1.77%. Value stocks increased during the month, but growth stocks posted modest negative returns. Developed international markets increased by 0.07% and emerging markets increased by 2.52%.

The U.S. fixed income markets were challenged in August as rates increased across the yield curve. The Barclays Aggregate Bond Index decreased by 0.11% for the month. Consistent with some strengthening in economic data, credit outperformed duration. U.S. Treasuries declined by 0.55%, while corporates posted positive returns. The Barclays Investment Grade Corporate Index increased by 0.20%, and the Barclays U.S. Corporate High Yield Index increased by 2.09%.

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Past performance is not indicative of future results. This is not financial advice or an offer to sell any product. Clark Capital Management Group, Inc. reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. It should not be assumed that any of the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein. Clark Capital Management Group, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Clark Capital’s advisory services can be found in its Form ADV which is available upon request.

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