Q3 2017 – Annandale Capital Quarterly Commentary

2017 is shaping up to be a great year for investors. We are only three quarters of the way through 2017, and US stocks have already returned 14.2%, well above their long-term average. Globally diversified portfolios have fared even better. International developed markets and emerging markets have returned 19.9% and 27.8%, respectively. Even fixed income investors have reason to cheer. US investment-grade bonds have returned 3.1%, despite the Federal Reserve hiking rates twice and telegraphing a significant reduction to its balance sheet. Given the level of returns to date, many investors are wondering what comes next. Download Q3 2017 commentary.

This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations. This is not an offer or solicitation with respect to the purchase or sale of any security.

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