Similar to the 2nd quarter of 2017, the most recent quarter saw broad market indices higher, with emerging and developed markets outside the US leading.

Broadly, market indices were up during the quarter, led by strength in emerging and developed markets outside the US.

Equities were off to a strong start in the first quarter of 2017, with Emerging markets outperforming both US and non-US developed markets. Real estate investment trusts (REITs) lagged their equity market counterparts.

In 2016, the US market reached new highs and stocks in a majority of developed and emerging market countries delivered positive returns.

Looking at broad market indices, the US outperformed both non-US developed and emerging markets during the quarter. US and non-US real estate investment trusts (REITs) recorded negative returns and lagged the US and non-US equity markets.