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Overseas Rebound Supported by Earnings

Overseas stock markets have outperformed the U.S. in 2015, with the MSCI EAFE gaining 9.0% through May versus 3.2% for the S&P 500.6.2.15

Aggressive foreign central bank policies, as well as stronger economic growth and earnings results, have boosted foreign market returns. Indeed, Europe posted first quarter earnings results that were stronger than in the U.S. (chart).

We believe the combination of attractive value, central bank stimulus, and improved economic and earnings performance can continue to boost overseas market performance. As a result, growth-oriented investors should continue to emphasize overseas equities in portfolios.

DISCLAIMER: Past performance does not predict future results. This report is based on data obtained from sources we believe to be reliable. Hefren-Tillotson does not, nor any other party, guarantee the accuracy or completeness of this report or make any warranties regarding results obtained from its usage. All opinions and estimates included in this report constitute the firms judgment as of the date of this report and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation to buy or sell the securities herein mentioned.

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