---
title: "July 2015 Portfolio Notes"
url: https://accuvestblog.com/2015/07/14/july-2015-portfolio-notes/
description: "June Comments The MSCI ACWI was down ‐2.35% in June, but still closed the quarter up 0.35%. On the year, China is still the best performing country in our model, up."
published: 2015-07-14
updated: 2015-07-14
---

# July 2015 Portfolio Notes

Published 2015-07-14

July 14, 2015 · by [David A](https://accuvestblog.com/author/accuvestblog/) · Filed under [Portfolio Notes](https://accuvestblog.com/category/portfolio-notes/)

Issue attachment (not archived)Country Portfolio Notes July 2015country-portfolio-notes-july-20151.pdf

**June Comments**

- The MSCI ACWI was down ‐2.35% in June, but still closed the quarter up 0.35%.
- On the year, China is still the best performing country in our model, up 14.65%.
- The United States completed the second straight quarter of underperformance relative to international markets.

**July Rankings**

- Germany is the only Euro based country with an overweight position.
- In addition to currency hedging in Japan and Germany, we are now hedging Won exposure in South Korea.