Investor Account Access
Investor access to Shareowner accounts and Closed End Funds accounts.
Charting our Focus
International Stocks at a Steep Discount to US Stocks | For years, US stock market returns have largely dominated global stock market returns, but this dominance has come with a progressively higher price tag. Today, we can see that the stocks of most non-US countries are trading in-line with, or in a few cases, cheaper, than their long-term price/equity averages. In contrast, the average US stock is currently trading well above its 10-year historical average, making the case for investors to globally expand their portfolios.
Source: Bloomberg as of 8/31/23. The indices measure the broad equity markets of each country/region. S&P 500 represents US stocks. MSCI for all others. EAFE index represents Europe, Australasia and Far East. Please see Terms and Indices on chart page for more information. Data based on past performance, which is no guarantee of future results.
Bonds may be Resuming their "Job" of Diversifying* Risk | The long-term correlation** between equities and bonds is generally negative and can provide attractive diversification for portfolios. Yet in 2022, the historically negative correlation between equities and bonds became strongly positive for a period of time. Now, the correlation between equity and bonds has reverted back to negative territory, making bonds again a potential diversifier.
Source: Amundi US and Bloomberg as of 6/30/23. Please see Terms and Indices on chart page for more information. Data based on past performance, which is no guarantee of future results. *Diversification does not assure a profit or protect against loss. **Correlation - The degree to which assets or asset class prices have moved in relation to one another. Correlation ranges from -1 (always moving in opposite directions) through 0 (absolutely independent) to 1 (always moving together).
The Importance of High-Quality Global Dividend Opportunities | In times of inflation, dividends can be an important tool for preserving purchasing power. Strong portfolio management with a global focus can help investors seek profitable and well-managed companies with attractive dividend potential.
Source: Bloomberg as of 7/31/23. Please see Terms and Indices on chart page for more information. Data based on past performance, which is no guarantee of future results.
Ninety Percent of S&P 500 Is at Historically Low Valuations | The largest stocks in the S&P 500 have driven the returns of the index in recent years, skewing upwards the most common gauge of expensiveness of stocks – the price/earnings ratio (P/E). Excluding the megacaps, stocks of the S&P 500 are now trading at their biggest discount since the early 2000’s, presenting a potentially opportunistic tailwind for active management.
Source: Bank of America (BofA). Last data point as of 7/31/23. Please see Terms and Indices on chart page for more information. Data based on past performance, which is no guarantee of future results.
Bonds are Back | 2022 was a challenging year for bonds. But we believe forces are aligned for bonds to snap back with inflation moderating, growth slowing, and the Fed getting closer to cutting rates. Plus bond market returns historically have tended to be strong after down years. Find out why we believe bonds are back.
Source: Bloomberg. Returns of the Bloomberg US Aggregate Bond Index. Left chart data ranges begin on 12/31 of the year shown starting 12/31/1975. Right chart shows 3 months ending 3/31 and the remainder of the year through 12/31. Data as of 7/31/23. Please see Terms and Indices on chart page for more information. Data based on past performance, which is no guarantee of future results.
Time to Invest in the Average Stock Versus the Biggest? | Megacap stocks, generally defined as companies with a market capitalization above $200 billion, have long dominated market returns—but a reversal may be underway. While the megacaps have rallied year-to-date, we believe the rally is likely to be short-lived, given the exposure of the megacaps to a slowing economy and the price-to-earnings premium at which the megacaps are trading. Given these factors, investors may wish to consider moving away from megacaps and toward average stocks.
Source: Amundi US, Bloomberg, Data as of February 28, 2023. Please see Terms and Indices on chart page for more information. Data based on past performance, which is no guarantee of future results.
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