The Investor Quarterly Market Commentary and Investment Perspectives
Global capital equity markets continued their historic advance in the third calendar quarter of 2017, led once again by foreign developed, and emerging markets. Foreign developed equity markets were up +5.4% (MSCI EAFE Index) for the quarter, while their emerging market counterparts were up even more, gaining +7.9% (MSCI Emerging Markets Index) for the period (1). The U.S. stock market once again lagged its foreign competitors for the quarter (S&P 500 Index was up +4.5%), though investors had to be pleased to see a bit of reacceleration in their momentum from the quarter prior, when the Index gained just +3.1% (2). “Growth” stocks continued to outperform “value” stocks during the full quarter, though the month of September saw value stocks surge.