Global equities advanced 5.0 percent in the third quarter, as measured by the MSCI World Index. All regions were positive, led by Asia Pacific (8.6 percent), Europe (5.4 percent) and North America (4.1 percent). In the United States, the S&P 500 Total Return Index gained 3.9 percent.
The Dow Jones Brookfield Global Infrastructure Index trailed broader equity markets in the third quarter, gaining 2.2 percent. On a year-to-date basis, however, the index outperformed the MSCI World Index by more than 12 percentage points (18.8 percent versus 6.1 percent through September). Asia Pacific led on a regional basis during the third quarter (up 3.6 percent), followed by the Americas (2.6 percent) and Europe (0.3 percent). By sector, oil and gas storage and transportation rose 7.1 percent in the quarter, followed by ports (6.1 percent), airports (4.8 percent), diversified (2.9 percent), toll roads (1.4 percent) and communications (0.3 percent). Utilities were the only subindices to