Global equities have continually reached fresh highs, with new records set virtually every month as the year progressed.
Of the developed markets, the US and Japan outperformed the UK and Europe in local terms.
But which were the sectors and stocks behind some of this relative performance and what of the losers?
US stocks have generated blistering returns in local, US dollar terms over the past year, with the US S&P 500 index surging by 18% to close on Friday at 2673 points.
Virtually all sectors of the US stock market delivered strong, double-digit returns over the 12-month period, with energy as the major exception.
Technology was the best performing segment of the US market, and by a wide margin, clocking up a rise of over 30%.
This was the year when the fundamentals just seemed to get better for big US technology names such as Apple and Amazon.com.
Apple shares are up by over 50%, with the company storming past results targets and experiencing huge demand for its new iPhone X towards year-end.
Amazon.com was up 36% over the year, again powered by strong financial results. The e-commerce giant swooped to acquire US grocer Whole Foods in a $13.7bn deal, making traditional retailers more worried than ever about Amazon.com´s aggressive expansion.
So, why did the US energy sector underperform, falling 9% over the past 12 months, despite oil, as measured by Brent crude oil futures rising from $54 to $63 per barrel?
For one, traditional energy stocks are decidedly out of vogue at a time when there is much excitement around the growth of alternative energy sources and technologies.
Electric battery powered cars were increasingly touted as the future for motorists, with encouragement from governments that want to cut down on pollution and rapid improvement in technology.
Some traditional energy names were also weighed down by debt and appeared to be struggling with the new normal of oil prices staying lower for longer.
The days when oil traded at well over $100 per barrel just three years ago seemed unlikely to ever return.
US oil & gas name Chesapeake Energy saw its shares slump by nearly 50% over the 12-month period.
UK and Europe
In comparison, the FTSE All Share has seen much more subdued performance in local terms, advancing by 8% over the 12 months.
The Stoxx Europe 600, which includes some of the biggest names from across 17 European countries, saw a broadly similar result, gaining 7.8% over the year.
The top performing sector for the UK market over the year was leisure goods.