![Challenges](https://www.hedgeweek.com/wp-content/uploads/2022/01/Challenges-square.png)
Q4 was a challenging quarter, says UBP AIS CIO
Over the fourth quarter of 2021, DM equities, except for Japan, were broadly positive, ending the third year in a row with strong calendar year returns, according to the latest UBP Quarterly Strategic Review & Outlook by Kier Boley, CIO