China and energy push market into correction territory

• During the third quarter, large-cap stocks outperformed small-caps as investors fled riskier assets as volatility spiked. Global markets were slammed by concerns over slowing Chinese economic growth and the free-fall in the Chinese stock market.
• Long duration, dollar-based fixed income securities performed well as global growth concerns fueled a rotation into ‘safe haven’ assets. Non-U.S. bonds (emerging markets in particular) denominated in local currency performed poorly as slowing Chinese growth and declining commodity prices took precedence.
• Oil prices declined during the third quarter amid global oversupply which was primarily fueled by escalating production from OPEC. Not even fee-based MLPs were immune to the sell-off, as concerns on future cash flows roiled the complex. Commodities and natural resource equities were also weak amid concerns about the Chinese economy.

To view the Third Quarter Reports, click on the links below:

• 3Q15 Global Positioning Statement™ 
• 3Q15 Global Equity Review
• 3Q15 Fixed Income Review
• 3Q15 Hedge Fund Review
• 3Q15 Private Equity Review