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Q2 2017: Cycling Through

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The rally continues. In the first half of 2017, global markets extended their long streak of solid gains with limited volatility. Beneath the headline gains, however, market leadership changed periodically. Owners of a broadly diversified portfolio wouldn’t have been too concerned with shorter-term rotations, but those who moved with the herd toward recent winners would have been whipsawed. Diversification, not prognostication or performance chasing, can work for those who can resist the hot dot.

Past performance is not a guarantee of future results.

Virtus Investment Partners provides this communication as a matter of general information. The opinions stated herein are those of the author and not necessarily the opinions of Virtus, its affiliates or its subadvisers. Portfolio managers at Virtus make investment decisions in accordance with specific client guidelines and restrictions. As a result, client accounts may differ in strategy and composition from the information presented herein. Any facts and statistics quoted are from sources believed to be reliable, but they may be incomplete or condensed and we do not guarantee their accuracy. This communication is not an offer or solicitation to purchase or sell any security, and it is not a research report. Individuals should consult with a qualified financial professional before making any investment decisions.