Thank you, we're client to and Marc. focused client-centric organization On Marc. welcome the most to all investment on and a that extend superior to with firm, team behalf XXXX client would like with our for commitment the on to shares delivering warm of a Marc exceptional a was is investment service them. return and clients good with year excited work objectives, I our an I our provide the well as source opportunity our that. often at as investment backdrop. look of us XXXX view outperforming. a with of of start-off key it different a dynamic concern. our and to will market of a Volatility review of strategies the strategies environment. of some of thought as discuss will is today's from gave perspective performance We then show I
that had falling volatility. the result short-lived markets come providing Volatile financial is drawdown is XXXX needs. February but committed are our the meet array and rising since the that correlation client quant-based expect. run, take was to through Active management active bottom-up than DNA. bull Beginning an we via return construction a sharp sell-off far by our firms ingrained investment for market and opportunity fully through decade-long approach. to significant to nearly the to Whether of ending most portfolio strategies, an and of or global year a early late solutions potential January in flexible often providing with markets last top-down marked were of managed more crisis in valuation with process, the dispersion compared volatile approaches As our investors actively
this the in last During global our and portfolios. view more let both our the deteriorating conservative a across to income fourth positioning year bottom-up second us half equities financial top-down In of and the the fixed our both investment was process outlook for quarter manifested across that markets. outlook
enable last class fixed allocation year. the strategies income these multi-asset study the asset of outperformed in us portfolio. as strategies two-thirds security well Our about the represent selection the assets parts and as to management in and under our of Clients equity
equities long-term XX% About our a quarter of growth of of by sector the its basis driven of our of equities of has assets and any result outperformed the management result a composite outperformance in outperformance one-third underweight the our income. result XXXX. of the fixed most decision under selection was products XX About net to Our which of last strategy was outperformance fee outperforming our about points by benchmark for was the year. be
and backdrop and with appropriate volatility positioning take outperformed by points active process asset fixed will basis for income financial markets along continue allocation reduced to us also Today's approach growth evolves. of dynamic investment with highly accounts investment dictate Our to our which XX security are as the advantage enabled our XXXX. equity selection the
quarter equity fourth to fourth reversal trends. led more fell stylistic by the The and quarter, U.S. XX%. of certain recent During than a drawdown also international
the performance what relative been growth-led environment. not of the a years during bond indices For were generated to several had example, broad In U.S. global fixed income, Value period, positive rising U.S. quarter offset over outperformed X.X%. significant enough gains the the although Growth
Within to full take year. year discuss rate well of losses gains number as fourth like the for I'd a those to U.S. did year. experienced this the moment for the performance However, the aggregate by to losses rising of a produced income In the gains over only the capital but due zero were income essentially offset course the quarter rising total returns the specifically, X.X%, strategies partially environment, and of in fixed unrealized quarter the our interest environment. offset
As I account our year. outperformed for balance mentioned the earlier,
In third the year. MorningStar of of their Life our each for in addition the ranked ranking top the respective funds and Pro-Blend, categories peer Cycle both quarter
by suites strong Target class Our quartile full points on from and both Target for strategies our strong asset points. MorningStar suites basis a All multi-asset respective results vintages in by From is Date top solutions of over of performance relative XXX standpoint, class equity performed XX Russell for the outperformed with composite the in approximately X-year both group basis carried outperforming year peer single its the Date our a year series XXXX of funds. ranking. basis benchmark their
Disciplined outperformed A other Most strategy, were established top-down we Value basis top fund XXX Series. XX-year the our the in International significantly specialty from XXXX. posted international approximately the benchmark record. points track now of for The On the strategies a with is X-star, underperformance disappointed of hand, by as notably, for fund best again and strong equity its the aisle has our year. size well our Overseas our as number Series performance
equity the benchmark drawdown. income quarter also outperformed fund during strategy fourth market its Our during a volatility compelling
full slightly its outperforming and ranking top and X-star also MorningStar high-yield each period. and the quartile on The but year, and Our Real in is X in quartile fund period. strategy across a both X over MorningStar its of fund Estate time remains benchmark the group peer peer year for its underperformed the for outperformed basis. fourth quarter of our benchmark time ranked Elsewhere X-year the year the quarter its top group
International on International asset an Lastly our challenging absolute small-cap broadly weighed its fund year benchmark a again returns. Rainier although quarter fourth classes outperformed for small-cap this
to active over call advantage dynamic. Going today's I'll call manager environment Paul, the the before I try to reiterate want forward provides. over as to of opportunity and Paul. And I we And with will it incredibly hand investment is the that turn to take as that an
