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First Quarter 2024 Update
March 2024

Hamlin’s equity composite advanced 8.45% over the first three months of 2024, trailing the S&P 500 Index’s 10.56% gain. Resilient Q4 2023 corporate earnings, expectations for a mid-year Federal Funds Rate reduction, and artificial intelligence euphoria combined to drive stocks higher. Hamlin bond accounts increased 2.33% as Treasury yields rose and the Bloomberg-Barclays High Yield Municipal Bond Index increased 1.51% over the quarter.*

*Q1 2024 performance is a preliminary estimate. ACA Performance Services has yet to examine performance which may be subject to change. Individual accounts vary.

 

Fourth Quarter 2023 Update
December 2023

Hamlin’s equity composite advanced 9.56% over the last three months of 2023, trailing the S&P 500 Index’s 11.69% gain. Decelerating inflation readings and the Federal Reserve’s pivot away from restrictive policy ignited powerful stock and bond market rallies. Hamlin bond accounts increased 4.91% as Treasury yields dove and the Bloomberg-Barclays High Yield Municipal Bond Index gained 9.21% over the quarter.*

*Q4 2023 performance is a preliminary estimate. ACA Performance Services has yet to examine performance which may be subject to change. Individual accounts vary.

Third Quarter 2023 Update
September 2023

Hamlin equity accounts decreased 2.70% over the last three months while the S&P 500 Index declined 3.27%.* Summertime artificial intelligence (“AI”) ebullience succumbed to rising Treasury yields, higher oil prices, looming student debt repayments, and government shut-down concerns. Hamlin bond accounts and the broader municipal bond market declined in value as the Federal Reserve indicated that short-term interest rates were likely to remain elevated well into 2024.

*Q3 2023 performance is a preliminary estimate as it is not yet examined by ACA Performance Services and may be subject to change. Individual accounts vary.

Second Quarter 2023 Update
June 2023

Hamlin equity accounts increased 3.79% during the second quarter. The S&P 500 Index gained 8.74% driven by resilient economic data and sharp rallies from a handful of Technology companies. Hamlin bond accounts gained 0.67% during the quarter. The Bloomberg-Barclays High Yield Municipal Bond Index returned 1.65% as Treasury yields rose over the last three months.