March 2021 Market Recap

By Crescent Team

ASSET CLASS PERFORMANCE

FIXED INCOME MARKET UPDATE

EQUITY MARKET UPDATE

ALTERNATIVES MARKET UPDATE

FINANCIAL MARKETS PERFORMANCE

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DISCLOSURES

All material and information is intended for Crescent Wealth Advisory business only. Any use or public dissemination outside firm business is prohibited. Information is obtained from a variety of sources which are believed though not guaranteed to be accurate. Any forecast represents future expectations and actual returns, volatilities and correlations will differ from forecasts. Past performance does not indicate future performance. This presentation does not represent a specific investment recommendation. Please consult with your advisor, attorney and accountant, as appropriate, regarding specific advice.

When referencing asset class returns or statistics, the following indices are used to represent those asset classes, unless otherwise notes. Each index is unmanaged and investors can not actually invest directly into an index:

• TIPS:  Bloomberg Barclays Global Inflation-Linked: U.S. TIPS Total Return Index Unhedged

• Municipals 5-Year:  Bloomberg Barclays Municipal Bond 5 Year (4-6) Total Return Index Unhedged USD

• Core Bond:  Bloomberg Barclays US Agg Total Return Value Unhedged USD

• High Yield Municipals:  Bloomberg Barclays Muni High Yield Total Return Index Value Unhedged USD

• High Yield:  Bloomberg Barclays US Corporate High Yield Total Return Index Value Unhedged USD

• Foreign Bond:  Bloomberg Barclays Global Aggregate ex-USD Total Return Index Value USD (50/50 blend of hedged and unhedged)

• EM Debt (unhedged):  J.P. Morgan GBI-EM Global Diversified Composite Unhedged USD

• U.S. Large Cap:  S&P 500 Total Return Index

• U.S. Small Cap :  Russell 2000 Total Return Index

• International Developed:  MSCI EAFE Net Total Return USD Index

• Emerging Markets:  MSCI Emerging Markets Net Total Return USD Index

• World:  MSCI ACWI Net Total Return USD Index

• U.S. Equity REITs:  FTSE Nareit Equity REITs Total Return Index USD

• S&P Real Assets:  S&P Real Assets Total Return Index

• Commodities:  Bloomberg Commodity Total Return Index

• Hedge Funds:  Hedge Fund Research HFRI Fund of Funds Composite Index

• Balanced: 3% TIPS, 33% Core Bond, 4% High Yield , 2% Foreign Bond. 2% EM Debt (unhedged), 18% U.S. Large Cap, 6% U.S. Small Cap, 16% International, 8% Emerging Markets, 5% U.S. Equity REITS, 3% Commodities

• U.S.:  MSCI USA Net Total Return USD Index

• China:  MSCI CHINA Net Total Return USD Index

• Japan:  MSCI Japan Net Total Return USD Index

• Germany:  MSCI Germany Net Total Return USD Index

• India:  MSCI India Net Total Return USD Index

• United Kingdom:  MSCI UK Net Total Return USD Index

• France:  MSCI France Net Total Return USD Index

• Italy:  MSCI Italy Net Total Return USD Index

• Brazil:  MSCI Brazil Net Total Return USD Index

• Canada:  MSCI Canada Net Total Return USD Index