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News & Our Thinking

News & Our Thinking
Quarterly Investment Commentary

Quarterly Attribution Commentaries

26 January 2021

From a stock market perspective, the year 2020 ended almost as it began with stocks in a bull market and indices reaching new highs; however, the middle of the year was much more tumultuous. The worst global pandemic in a century and the bear market that followed upended investors. Swift action by the Federal Reserve and the passage of the $2.2 trillion stimulus package by Congress encouraged investors that the pandemic wouldn’t cause a more severe crisis. Even with concerns over the outcome of the presidential election, civil unrest and surges in COVID-19 cases, the S&P 500® Index ended the year up 18.4%.

Argent continued to selectively upgrade its portfolios during the quarter with companies that exhibit strong cash flows, sturdy balance sheets and above-average returns on capital. Please see our attribution commentaries below for more detail.

Mid Cap Attribution

Russell Midcap

Dividend Select Attribution

Russell 1000 Value

Small Cap Core Attribution

Russell 2000

Large Cap Growth Attribution

Russell 1000 Growth

S&P 500