Global Clients, Global Portfolios
Research commentary published April 2013 – September 2017
10 entries · April 8, 2014 to January 22, 2015
January 22, 2015 · by David A · Filed under Monthly Portfolio Notes
This month in the country ranking portfolio notes we take a look back on 2014, where we saw a wide range of country performance. Also, we dive into the January model and provide some commentary on how USD strength has…
December 9, 2014 · by David A · Filed under Monthly Portfolio Notes
Notable Moves to the Upside… Spain… moved from an underweight position to a neutral weighting. Valuation metrics and fundamentals both showed improvements in November. Spain has the highest growth in EPS over the last year and has the 4th highest…
November 12, 2014 · by David A · Filed under Monthly Portfolio Notes
Notable Moves to the Upside… China… moved back to the top of the rankings after showing improving risk and valuation. They are now the cheapest country in the model. China has a forward P/E of 8.8 and a Growth to…
October 14, 2014 · by David A · Filed under Monthly Portfolio Notes
In October, value countries have continued to underperform the market and have been a significant drag on country selection. Meanwhile, Latin America took a huge step back as Brazil was down -19.22% on the month, showing a significant turn in…
September 11, 2014 · by David A · Filed under Monthly Portfolio Notes
Heading into September, we think that the 4 countries listed below warrant extra focus. Our complete list of country rankings can be 3 Points to set the Global Landscape Latin America is picking up momentum as we head into the…
August 13, 2014 · by David A · Filed under Monthly Portfolio Notes
Heading into August, we think that the 4 countries listed below warrant extra focus. Our complete list of country rankings can be 3 Points to set the Global Landscape Developed Europe has been a drag for investors who were chasing…
July 9, 2014 · by David A · Filed under Monthly Portfolio Notes
Heading into July, we think that the 4 countries listed below warrant extra focus. Our complete list of country rankings can be 3 Points to set the Global Landscape For the first time in over 20 years, the range of…
June 9, 2014 · by David A · Filed under Monthly Portfolio Notes
Through the first 5 months of the year, country returns have been tight. The MSCI ACWI Index is up 4.22% this year and the average country is up 6.08%. Emerging markets are gaining momentum. Over the last 3 months the…
May 12, 2014 · by David A · Filed under Monthly Portfolio Notes
This month, Spain and Italy dropped slightly in the model and were replaced by Germany in the top six. However, China and the United States maintained their positions at the top of the model. This year, value factors, which have…
April 8, 2014 · by David A · Filed under Monthly Portfolio Notes
This month, some emerging markets had a strong performance while the three largest constituents in the MSCI ACWI Index stalled. Latin America, which was down -20.82% over the last 12 months, had a great month up 8.82%. While some European…