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Q1 2017 PSN Top Guns – Markets Display Resiliency

During the first quarter of 2017, U.S. markets have displayed resilience through uncertain times. U.S. equity markets continued to hit record highs during the quarter (S&P 500 +6.07%) as investors pin their hopes on reduced taxes and regulation and an increase in infrastructure spending. The Federal Reserve hiked interest rates based on an improved outlook for the economy and inflation, while soft data continues to paint a rosy picture.

Growth investors were smiling throughout the quarter, as growth funds, represented by the Russell 3000 Growth index (+8.63%), outperformed value funds, represented by the Russell 3000 Value index (+2.99%), across the market cap spectrum. The driving force behind the outperformance was the information technology sector, which had a stellar quarter (S&P 500 Information Technology +12.57%). Below are some of the strategies that make up the U.S. Growth PSN Universe.

 

  • Goldman Sachs Asset Management: US Strategic Growth (+23.4% for the quarter)
  • Zevenbergen Capital Investments LLC: ZTech Growth Equity (+16.4% for the quarter)
  • Columbia Management: Focused Large Cap Growth (+15.6% for the quarter)

 

 Positive economic data, an uptick in inflation, and gains in leading indicators during the quarter provided the European Central Bank the support needed to increase its economic and inflation forecasts, while keeping its stimulus package in place, resulting in the MSCI Europe index returning +7.61%. Dampened political concerns provided additional tail winds, as pollsters rejected anti-euro candidates and polls showed a diminished chance of Marine Le Pen winning the French presidential election. The following strategies made the PSN Top Guns list for the Europe Universe.

 

  • Pictet Asset Management Ltd: Pan European Equity (+12.0% for the quarter)
  • Evermore Global Advisors, LLC: European Value (+11.7% for the quarter)
  • Threadneedle Asset Management: Pan European Equity Smaller Companies (+11.3% for the quarter)

 

International corporate debt (Citigroup Non-USD WorldBIG Index +1.86%) outpaced sovereign debt, as central banks hinted at monetary tightening due to an increase in economic growth and inflation. Investors continued to seek higher yielding securities, rewarding strategies with an overweight in emerging market debt. Bonds in local currencies also rewarded investors due to strengthening currencies in the emerging countries. Below are some of the strategies that make up the PSN Top Guns International Fixed Income Universe.

 

  • Brandywine Global Investment Management: Emerging Markets Debt (+9.0% for the quarter)
  • Capital Group: Emerging Markets Debt (Inf-Linked) (+8.6% for the quarter)
  • Stone Harbor Investment Partners: Emerging Markets Debt Total Return (+8.4% for the quarter)

 

The complete list of PSN Top Guns and an overview of the methodology can be located on www.informais.com under the Resources tab. If you do not have a login, you may register for complimentary access. For more details on the methodology behind the PSN Top Guns Rankings or to purchase PSN Top Guns Reports, contact Ruth Calderon at ruth.calderon@informais.com.

 

Ryan Nauman
VP, Product and Market Strategist
Informa Investment Solutions
Tel: (800) 789-5323
Ryan.Nauman@informais.com

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