Factor Performance Analysis for February 2024

This report presents a factor performance analysis for February 2024, focusing on the trends in equity markets across various regions. The analysis indicates that the MSCI ACWI returned 4.29%, with notable momentum in the US driven by a few concentrated firms. The report details the performance of different equity categories, highlighting that US equities showed significant strength, particularly in large tech stocks, which were influenced by advancements in artificial intelligence. In Europe, momentum remained the dominant driver, despite a lower performance compared to the US. The report also outlines the performance of UK and Emerging Market equities, noting a shift towards growth stocks. Furthermore, Canadian equities displayed varied performance across factors, with a notable emphasis on quality. The report concludes with an appendix explaining how to interpret the charts presented, detailing the methodology used for analyzing factor performance relative to the overall market.