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June 2015 Market Commentary
Global equity indices experienced gains throughout the second quarter despite mixed readings from various economic indicators. Fixed income and alternative asset classes faced strong headwinds due to heightened risk as geopolitical and macroeconomic headlines were front of mind for most investors.
For the quarter, the S&P 500 Index advanced 0.3% while the Russell 2000 Index of smaller companies gained 0.4%. Healthcare, technology, and financials were among the top performing sectors, while energy, industrials, utilities, and telecommunications lagged. Across market capitalizations, performance was largely mixed with smaller cap names generally outperforming their mid- and large-cap counterparts, with value indices being the exception. With regards to investment style, growth stocks outperformed their value equivalents in the mid- and small-cap portions of the equity market, while growth and value performed in-line among large-cap equities.