The Markets October 2, 2008

World Equity Markets Head South

September 2008 was not a happy time in the world of emerging market equities.
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A research note from Howard Silverblatt, senior Standard & Poor’s index analyst, indicated, in fact, that September was the worst month for emerging markets since August 1998.

For September, emerging markets lost 18.76% while developed markets fell 14.8%. The U.S. continued to perform better than other markets with a 9.29% loss over the month.

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Meanwhile, during the quarter, emerging markets fell 27.98% and developed markets gave back 21.62%. The U.S. was down 8.85%, while Russia was off 45.52%.

In general, all 52 world equity markets were down for the month, resulting in a $4.1-trillion loss in equity during September, a $5.8-trillion loss for the 3rd quarter, and a $10.5 trillion year-to-date loss.

The S&P report said year-to-date, all 26 developed markets lost ground, while 25 of the 26 emerging markets fell. Jordan is the only country up for the year, returning 0.96%.

Products October 2, 2008

RSM McGladrey, WisdomTree Partner for Retirement Plan Offerings

RSM McGladrey’s Retirement Resources will add the WisdomTree ETF 401(k) Platform to its existing retirement plan offering.
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“Employers are looking for investment options beyond mutual funds to create a wide menu for participants to choose from while also focusing on the costs associated with these options,” said Rose Panico-Marino, managing director and national practice leader for Retirement Resources, in a press release. “We see ETFs as an important investment option at present and in the future to accomplish this.”

RSM McGladrey Retirement Resources is a third-party administration firm offering defined contribution, defined benefit, and employee stock ownership plan design and administration, as well as standalone consulting and fiduciary reviews for qualified and nonqualified retirement plans. These services are delivered through RSM McGladrey, Inc., a provider of accounting, tax, and business consulting services.

See also:ETF Uptake

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