The 2019 stock market year offered two broader gains in the Nordic region and Europe, which the portfolios there managed well. In the US, this year’s stock market has been more driven by a few large companies, which is repeated last month, which means that Neox US/EU portfolio developed close to the average. Two out of three Neox portfolios are their corresponding exchanges, but only the average of 0.5% units per month, which is below the target of 1.07%. In 2019, stock markets in Europe and the Nordic region took two steps up in the first and second quarter. During the spring and summer months, stock markets leveled off in the shadow of concerns about trade tariffs and recession. When these concerns eased in the autumn, stock markets gained new momentum. In the United States, on the other hand, development was more even throughout the year.