Q4 2022 Executive Summary

Fourth Quarter Market Perspectives Executive Summary. Inside, you will find a summary of market activity and our market outlook.

Q4 brought some relief from 2022’s downturn with a 9.8% return for the MSCI ACWI Index—extending the long history of post-US midterm positivity. Emerging Markets (EM) also rebounded and finished the quarter with a 9.7% gain. Turning points are impossible to predict and clear only in hindsight, and thus it is still too soon to know if October’s low marked the bear market’s end. However, whether the new bull market began in Q4 or arrives this year, we think equities are most likely to end 2023 higher.

*The foregoing information constitutes the views of Fisher Investments based on information believed to be reliable. There can be no assurances that Fisher Investments will continue to hold these views. These views may change at any time based on new information, analysis, or reconsideration.

Investing in stock markets involves the risk of loss and there is no guarantee that all or any capital invested will be repaid. Past performance neither guarantees nor reliably indicates future performance.

About Fisher Investments Australasia

Fisher Investments Australasia offers a variety of Global, Non-US, and US Equity strategies for institutional investors. FIA delegates portfolio management to its parent company, Fisher Investments, a money management firm in the US founded in 1979 by investment guru Ken Fisher. Today, Fisher Investments and its affiliates oversee more than $347 billion* in assets for over 145,000 clients globally.* Founder Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 31/12/2023)

For your reference, Fisher Investments Australasia is an investment manager located in Sydney. The parent company, Fisher Investments, is based in the United States, and manages assets for large institutional clients around the world.