After all the volatility in 2015, the S&P 500 ended up +1.38% — the lowest annual return since 2008. Market leadership in the U.S. markets was very narrow (NASDAQ 100 +9.75%, Russell 1000 +0.92%) with technology leading the way. Growth outperformed value by +9.49% (Russell 1000 Growth +5.67% vs. Russell 1000 Value -3.83%).
For the third straight year, international equity diversification did not pay off. The MSCI EAFE finished 2015 down -0.81% and the MSCI Emerging Markets Index got hammered down -16.96%.
After waiting all year, the Fed finally raised rates in December and fixed income markets reacted predictably. The Barclays Aggregate was down -0.32% in December and ended the year up +0.55%.
Please join us this Thursday, January 7th at 4 pm EST for CIO Sean Clark’s annual Market Outlook. Sean will provide his expectations for the economy and the markets in 2016 and will provide talking points for your client meetings. Register Here.
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