North America | 62.3 % |
Europe | 26.3 % |
Asia | 7.9 % |
Asia-Pacific | 3.5 % |
Total % Equities | 100.0 % |
The social theme is one of the most disregarded areas within ESG. Yet we believe that companies providing positive experiences to both their customers and employees are better positioned to achieve superior returns over the long run.
Market environment
Market momentum waned in December, partly due to the Federal Reserve's decision to cut interest rates by 0.25%, while signaling a slower pace of easing for the upcoming year.
This decision tempered investor expectations and led to profit-taking in equities, which also caused the dollar to rise.
From a sectoral perspective, the technology sector ended the year higher, buoyed by semiconductors, while more cyclical sectors such as energy and financials experienced sharp declines.
European markets ended the year on a positive note, despite a drop in its largest capitalization, Novo Nordisk, which disappointed investors following the announcement of results that fell short of expectations for its new experimental anti-obesity drug.
Emerging equity markets exhibited some regional disparities, with a sharp rise in China and declines in Korea and Latin America