Market Review - Fourth Quarter 2015 & Outlook

Despite modest recoveries across most markets in the fourth quarter, 2015 was a poor year for investment returns. While concerns at the end of 2015 continue now—volatility in China’s domestic Shanghai market, rising interest rates in the U.S., falling oil prices, the U.S. dollar’s strength—history has shown that markets often revert to above trend line returns after weak periods when underlying fundamentals remain positive. Looking ahead and past the oft-exaggerated media warnings of spreading financial distress, there is reason for cautious optimism.