Despite natural and political storms that broke out around the world last quarter, U.S. and foreign equity markets gained ground. In the current edition of INVESTMENT QUARTERLY, our World Market Survey lists some of the events that influenced market returns over the past ninety days, along with several tables that document historical asset class returns through the end of September.

As financial markets fluctuate, it is natural to wonder about the level of risk assumed by a portfolio, and whether that risk has changed markedly through time. One way to control risk is to regularly evaluate and rebalance a portfolio back to the selected target asset allocation. How effective is the rebalancing process? We invite you to read our article “Managing Risk and Return: The Mechanics of Portfolio Rebalancing” in the latest INVESTMENT QUARTERLY.