U.S. equity markets closed 4Q25 on a positive note, driven by moderating inflation and robust earnings. For the quarter ended December 31, 2025, the SMA outperformed the Index on both a gross- and net ...

For the quarter ended September 30, 2025, the SMA underperformed the Index on a gross- and net-of-fees basis due to unfavorable stock selection. Strong performance in technology and artificial ...