Following three consecutive monthly declines, public equity markets in developed and emerging markets rebounded, returning nearly 10% across most regions except for the UK. From a factor perspective, stocks with high volatility over the last year played a crucial role in driving returns this month, followed by a renewed interest in Growth equity in Europe and Emerging Markets, particularly forecasted growth. The UK stood out as an outlier, being the only region to prefer Value stocks and eschewing Growth, resulting in a modest 3% return for its public equity market in November.
