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- The European Central Bank disappointed those hoping for a massive stimulus package for Christmas. Since a major liquidity boost was already somewhat priced in; its failure to arrive sent equity markets down into year end.
- The S&P Europe 350® nonetheless completed 2015 with a 8.6% total return.
- Quality (20%), Momentum (18%), Growth (15%) and Low Volatility (16%) strategies performed particularly well this year.
- It was a banner year for European small-caps. The S&P Europe SmallCap BMI gained by a whopping 23% in total return.
- It was an unusual year in the European bond markets, with negative yields spotted in many corporate bonds, the German Bund briefly offering a 0.1% yield (an all-time low) earlier in the year and a just-avoided default of a European sovereign (Greece) in the middle. European sovereign bonds finished the year in the black, with a total return of 1.3% for the S&P Pan-Europe Developed Sovereign bond index.