To be honest, the better performance by the U.S. versus the rest of the world is not entirely unexpected after a strong year for international stocks in 2017. Tax changes and less regulation have stimulated the U.S. economy, but the markets have recently started to gravitate to the idea that the U.S. represents the only investment opportunity in the world. Although Pension Boards’ Funds are allocating a majority of assets to U.S. investments, most experts know the benefits of diversification over the longer term, and international markets should not be ignored, especially when they hold value for the longer-term.

We thought you would like to see a current assessment of emerging markets by GSAM. We will continue to keep you informed on trends influencing global markets and your retirement funds.

• Goldman Sachs Asset Management: EM [Emerging Markets] Comeback*
  In this abbreviated Mid-Year Outlook, GSAM shares its views on the remainder of 2018, with particular focus on the recent volatility in emerging markets.

*The EM Comeback report is used with permission of Goldman Sachs Asset Management.