taking earnings Good you to thank for our quarterly time afternoon to call. and listen the
the As business. with market comments always, investment on comments I'll start environment with on our and teams and finish
rallied was quarter in more once June. and fell volatile May Second as in markets April, generally in sharply rallied
quarter in China quarter concerns expected, sent First early helped an the lower. before than escalating GDP was war markets better of markets trade with which
concerns pushed lower. weakening support for rate yields now over markets while multiple additional has the cuts, provided which year, pivot markets and bond some manufacturing fading growth in has earlier Fed has equity expecting
of later of the but remains a most the year. into in increasingly the corporate the we risk but high likely will the the end of Volatility stages acceleration an outcome remains cycle. be Positive at continued is as moderate full the move growth to year, for dependent on spike it business earnings volatility
be bully focused flows. company as on earnings a a and markets outlooks and housing tight to consumers on will have labor rebound cash impact Investors begin and in a positive
cycle for preference is The dispersion cause driver it returns. the of the high-quality, underlying each As in cash-generating with likely the will business discriminates quality to on key focus returns, strong investor further providing economic weakness businesses companies market's between a strength fundamental as of grow. or progresses,
active risk we Ultimately, we the believe, landscape We managers to more invest toward securities of will that identify and uncertainty. and capital remain clearly in and to allows the one in are volatility client absolute potential continue assessing in investing these move losers. striving winners that to vigilant times during protect
basis notable Our Value delivered during U.S. points XXXX of the XXX during products May Russell quarter quarter SmallCap points second with outperformance strong over ahead well the stands against in rocky outperformance and value, Equity basis now fared XXX with another sell-off. over XXXX.
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time is top X-year over Our quartile strategy in and periods. institutional ranked year-to-date, quarter, last trailing also the the
market quarter. And neutral correlation, maintained any and market characteristics a our low has strategy backdrop neutral rather beta the low equity strategy returns has low market nearly during in volatility market importantly, shown steady Our volatile backdrop. despite
gives asymmetric equity well by strong persist, proxy in experienced to of June recovery global also investors volatility a the market driven regions. in the relative perform bonds risk markets convertible uncertainty markets nature with quarter stocks. should that developed Global lower to likely a With
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to by continue they as between U.S. lagged concerns markets and overshadowed trade war the be China. Asian
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that BBB we the service, pleased wanted Principles a we sales United mention were based received to to our Before data we in X. security April of to ESG to the corporate first that upgrade privacy investment investing, PRI ratings Nations signatory as an We and responsible commitment early practices and and of to discuss responsible governance. largely May on our learn reporting UN to I on Investing, completed our Responsible
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total This $X.X However, we the four year, optimistic worth it opportunities was truly new with pipeline billion strategies. is business And last opportunities across forward. business across going to X $XXX ability of filled million about institutional grow strategies. today, multiple time are our our
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I'll now call turn Terry the Forbes, our to CFO. over
