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- Global equity markets returned to positive territory in the last quarter of 2014, as evidenced by the 1.01% return in the MSCI World Index.
- The Polaris Global Value Fund outperformed the MSCI World Index, net benchmark in the quarter, up 2.39% while the Index advanced 1.01%. Notwithstanding declines in all energy and some materials companies, overall results were driven higher by solid earnings results in a number of companies.
- Positive contributions were realized from companies including Greencore Group PLC, an Ireland-based producer of convenience foods; U.S. utility Allete; two U.S. banks; two U.K. homebuilders; Duni AB, a Swedish tabletop paper products supplier; U.S. based UnitedHealth Group; MEIJI Holdings, a Japanese dairy products company; and Symrise AG, a German maker of ingredients in the beverage, food and fragrance industry.