Quarterly Attribution Commentaries
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
Dividend Select Attribution
Small Cap Core Attribution
Large Cap Growth Attribution