Financial Professionals

Insights

Q2 2016 Market Review

07/11/2016

Financial market volatility continued during the second quarter primarily driven by the surprising outcome to the U.K. Brexit vote. For the quarter the S&P 500 Index gained 2.46%, bringing the year-to-date return to 3.84%. Smaller stocks, as measured by the Russell 2000 Index, managed to break into positive territory for the year-to-date with a return of 2.22%. The NASDAQ Composite Index continued to struggle with a decline of 2.66% year to date. Higher yielding stocks continued to perform well with the S&P utilities and telecom sectors up approximately 20% year to date, their best start since at least 1990 (See chart: Performance of Telecom Services and Utilities). Emerging market stocks, as measured by the MSCI Emerging Markets Index, increased only slightly in the quarter (+ 0.81%), but they are up 6.67% for the year to date.





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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.