On the surface, third quarter felt like a good one for global equities. Markets extended their gains from the second quarter, and the broad MSCI World index rose 5.53 percent.
However, under the surface there were large dispersions. For instance, when comparing regions, it was indeed a great quarter for U.S. equities, an average quarter for European and Japanese equities - and a very weak one for emerging markets
Read the full Quarterly report - click here.