By Rob Longsworth
Sentinel Business Columnist
A correction from the July 8 article introducing the chart: the largest approximate market capitalization of any Greenwich-based company is $14.3 billion, not $7.0 billion. Mea culpa.
The indices in the accompanying chart are updated through July 31. Year-to-date the Greenwich index is seeing a significant bounce from its end-of-2015 lows. While only two of its 13 stocks were up in 2015 on a total return basis (the combination of capital appreciation and dividends), the reverse is true through August 19 of this year, with only two down. Of the remaining 11 that are up, impressively nine are up more than 10%, with four of those up 20% or more.
Financials, insurance, and REITs account for close to 90% of the index by market capitalization, so as go these sectors, so goes the index. The insurance and REIT names have been especially strong year-to-date. The lone industrial freight name is up substantially this year, as well. Its market capitalization accounts for nearly 12% of the index and thus adds measurably to its performance.
Please don’t hesitate to reach out should you like to discuss anything related to these indices, or another wealth management topic altogether.
Rob Longsworth is a Wealth Advisor at Greenwich Wealth Management LLC in Greenwich. Email Rob with questions at Rob@greenwichwealth.com or write to him c/o the Greenwich Sentinel, 28 Bruce Park Ave., Greenwich, CT 06830 (203) 883-1430. Advisory services offered through Greenwich Wealth Management, LLC, an SEC Registered Investment Advisor. Securities offered through Private Client Services, Member FINRA, SIPC. Greenwich Wealth Management and PCS are unaffiliated entities.
