July 18, 2018 Think Small in a Trade War? Yes, but Think Carefully, Too by Bruce Aronow, James MacGregor, Samantha S. Lau, Shri Singhvi As trade tensions escalate, investors are flocking to stocks of smaller US companies, which rely less on foreign sales than their large-cap peers. But in some industries, tariffs could affect smaller companies in unexpected ways. Active & Passive , Equities Likes 0 SHARE Bookmarks
July 11, 2018 Is All-Passive Really the Best Thing for Target-Date Funds? by Christopher Nikolich With market returns expected to be lower going forward, target-date funds that invest in passively managed underlying components are at risk of underdelivering. We think diversifying beyond traditional asset classes and tapping alpha opportunities with a multi-manager structure can increase the chances of success. Active & Passive , Multi-Asset, Target-Date Solutions Likes 2 SHARE Bookmarks
May 09, 2018 Will Real Change Result from New Regs? That’s Up to Investors On May 14, new MSRB regulations will require the disclosure of the often dramatic markups that retail investors are subject to when buying individual municipal bonds. Will this accelerate the shift into active municipal bond management? Active & Passive , Fixed Income, Municipals, Policy & Regulation Likes 1 SHARE Bookmarks
April 20, 2018 Volatility Is Back—And That’s a Good Thing for Active Management by Richard Brink, Walt Czaicki, Scott Krauthamer It’s been a rocky start to 2018 for equity markets globally—volatility has returned with a bang and February saw the first 10% market correction in a while. So, why are active managers smiling? Active & Passive , Equities, Volatility Likes 0 SHARE Bookmarks
April 03, 2018 Why Passive Investing Isn’t a Panacea by Richard Brink, Walt Czaicki, Scott Krauthamer The active/passive debate has been raging for years, and both approaches have merit. But there’s more to the story than meets the eye. Investors who commit too much to passive—and not enough to active—could face mounting risks. Active & Passive , Equities Likes 1 SHARE Bookmarks
March 14, 2018 Why Active Management Failed…and Didn’t by Richard Brink, Walt Czaicki, Scott Krauthamer Passive equity strategies have seen massive inflows over the last decade, in part owing to active management’s struggles. But a closer look at the story within the story suggests that leaving active out of the equation could be leaving money on the table. Active & Passive , Equities Likes 0 SHARE Bookmarks
February 27, 2018 EMD: A Survivor—Past, Present, Future by Christian DiClementi Following a strong 2017, emerging-market debt (EMD) held its own in January despite a sharp rise in US interest rates. That’s no accident. Economic fundamentals have improved dramatically, leaving EMD well positioned to withstand future turbulence. Active & Passive , Emerging Markets, Fixed Income, Volatility Likes 0 SHARE Bookmarks
February 19, 2018 Passive Investing Hurts Emerging-Market Debt Investors Think emerging-market debt might as well be managed passively? Think again. Active & Passive , Emerging Markets, Fixed Income Likes 0 SHARE Bookmarks
January 16, 2018 Five Ways to Keep Your Muni Portfolio on Track in 2018 by Daryl Clements They are the primary objectives of municipal bond investing: Safety. Income. After-tax return. But the market doesn’t always provide the ideal environment, and the coming year looks to be no exception. How can muni investors avoid getting knocked off course in 2018? They can adhere to these five strategies. Active & Passive , Fixed Income, Municipals Likes 0 SHARE Bookmarks
January 10, 2018 Are Munis No Longer Safe? by Daryl Clements The Wall Street Journal published an article on January 7 challenging the safety of municipal bonds as “not [being] the reliable bet they once were.” While its headline may startle some investors, we’ve been endorsing this view for years. Municipal bonds simply aren’t a set-it-and-forget-it choice. Active & Passive , Fixed Income, Municipals, Volatility Likes 0 SHARE Bookmarks
October 23, 2017 Step Away from the Emerging-Markets Benchmark by Sammy Suzuki Active? Passive? With emerging market equities, there’s no contest. The benchmark is highly inefficient, and trying to mimic it really has no value for investors. Active & Passive , Emerging Markets, Equities Likes 0 SHARE Bookmarks
October 16, 2017 Munis: Active or Passive? There’s No Debate by Daryl Clements Passive strategies have gained ground in some asset classes. But when it comes to municipal bonds, they don’t have a leg to stand on. In a market this complex and illiquid, an active manager is essential. Active & Passive , Fixed Income, Municipals Likes 0 SHARE Bookmarks
October 04, 2017 Finding Resilient Returns as Global Equities Rally by Sharon Fay Global equities advanced in the third quarter, as steady macroeconomic growth supported solid earnings reports. In the evolving market environment, we believe that individual company performance will make a bigger difference to stock returns. Active & Passive , Equities Likes 0 SHARE Bookmarks