markets, China fell 4.35%, Barzil was down 7.48%, Russia finished
11.16% lower, India lost 11.75% in local currency terms in May'06.
The Emerging Markets Index took a
nosedive in May, falling 10.28%, according to S&P
Global Market Review, May 2006. Combining emerging markets with
the developed world results in a 4.71% drop for the S&P/Citigroup
Global Composite BMI in May
The only sector that had positive
returns was Utilities which gained 0.92%. The previous top two
performers, Energy and Materials fell 3.14% and 3.78% respectively
Value investing as per the S&P/Citigroup
Style Index methodology resulted in a 3.24% loss while growth
investing resulted in a loss of 3.90%. Year to date, value has
gained 8.45% and growth 5.03%.