Chief Investment Strategist Commentary — 2013 year-end review

January 2, 2014

US equity markets produced exceptional, and surprising, absolute returns in 2013. International markets were not quite as impressive but still returned over 20% for 2013.

Less robust were emerging markets, and many fixed income asset classes — which had negative total returns for the year despite a positive quarter. After excellent relative returns in 2012, UCF specifically was largely in-line with benchmarks in 2013, with fixed income strategies standing out on a relative basis, despite being negative.

For a full fourth quarter/year-end review, please check back here in the coming days. 

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