Overall, markets calmed down somewhat in the third quarter, after a tumultuous and volatile first half of the year. The EAFE International Index improved by 6.5% in the third quarter to finally climb into the green, up by 2.2% year-to-date. The Pendo International Strategy gained 5.6% for the quarter, and 11.5% YTD.
One of our favorite long-term opportunities remains India, which in many ways resembles the China of 30 years ago.
Read MoreMarkets were true to form for the first half of 2016, fluctuating wildly with every news bit and then calming down with market data. The US’ S&P 500 was down by nearly 11% in February, yet finished the first half up 3.8%. The international EAFE index (Pendo’s benchmark) was even more volatile, falling nearly 13% at one point in the first quarter and rebounding somewhat to end the half down 4.0%. The Pendo International Strategy followed a similar pattern, falling by nearly 9% in February, and recovering to finish the first half of 2016 up 5.5%.
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