The major benchmarks we track produced negative total returns for the first quarter of 2020.

• The MS World Equity Index decreased 20.93%.
• The Balanced Index of 60% MSCI World Equity and 40% BC US Aggregate Bond declined 11.74%.
• The Conservative Index of 40% S&P 500 and 60% BC US Aggregate Bond decreased 6.33%.

For the next twelve months, we are projecting that domestic and international equities will produce above normalized positive total returns while fixed income will produce nominal to negative total returns. Based on this forecast, we are strongly emphasizing domestic and international equities over fixed income securities. We continue to favor short and intermediate term investment grade bonds over long-term bonds.

 

You can review our current outlook and policy by going to the Client Info page.