The year 2014 was one of many contrasts, particularly between the S&P 500 and most other asset classes. Returns of the S&P 500 are likely to be well above the results of investors with diversified portfolios. This variance in returns can create doubt regarding the benefits of diversification and active management but we encourage patience. Our Quarterly Market Report reflects a hypothetical conversation with Mr. and Mrs. C, long-time clients of Hefren-Tillotson. In the year-end investment review, we discuss these contrasts and issues top-of-mind for many investors today.

View the full Quarterly Market Report by downloading the PDF.