In a surprising turn of events, most equity markets finished 2020 with sizable gains—and the fourth quarter unquestionably did its part. Benchmark risk continued to slide in Q4—except for a blip in November—but still ended the year higher than where it started. Factor returns went wild in Q4 and many regions saw outsized returns for the year.
Authors
Melissa R. Brown, CFA
Managing Director of Applied Research
Olivier d'Assier
Senior Principal, Applied Research - APAC
Christoph Schon, CFA, CIPM
Senior Principal, Applied Research
Diana R. Baechle, PhD
Director, Applied Research
Natan Borshansky
Manager, Applied Research
