Gavekal Capital: Reviewing February Equity Returns

Monday, March 2, 2015

Reviewing February Equity Returns

February ended up being a month where cyclicals and developed markets outperformed. On an equal-weighted, USD basis, the material sector was the best performing developed market sector in February. Materials were up 7.2%, followed by information technology (6.7%) and consumer discretionary (5.7%). Utilities was the only sector that ended the month in negative territory (-3.1%). The average stock in the MSCI World Index was up 4.6%.

The emerging markets had a slightly tougher time in February. The averages stock was only up 0.2% and six out of the 10 sectors ended the month with negative performance. However, it was still a cyclical led market in the emerging markets as well. The best performing sector was industrials (2.8%) followed by materials (2.2%) and energy (1.3%).

MSCI World Performance By Sector

MSCI Emerging Markets Performance By Sector

MSCI World Performance By Industry Group

MSCI Emerging Markets Performance By Industry Group

MSCI World Top 10 Best Performing Stocks

MSCI Emerging Markets Top 10 Best Performing Stocks

MSCI World Bottom 10 Worst Performing Stocks

MSCI Emerging Markets Bottom 10 Worst Performing Stocks

About Gavekal Capital

Gavekal Capital is a US registered investment advisory firm that manages the Gavekal Knowledge Leaders Strategy. Knowledge Leaders are a group of the world’s leading innovators with deep reservoirs of intangible capital. These companies often possess competitive advantages such as strong brand, proprietary knowledge or a unique distribution mechanism. Knowledge Leaders are largely service-based and advanced manufacturing businesses, often operating globally. Gavekal Capital seeks to identify the world’s leading knowledge companies through a proprietary process that analyzes corporate knowledge investments.
We offer the Gavekal Knowledge Leaders Strategy in multiple products for global investors. For more information about our product offerings please visit http://www.gavekalcapital.com.
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