Research Archive
2025 Outlook – Bridging the Divide
From Market Fragility to Portfolio Durability Key Observations• Full valuations, concentrated U.S. large-cap indexes and the risk of reigniting inflation are shaping the key themes […]
November Market Review – Riding the Wave
Post-election optimism fuels U.S. markets while global uncertainty lingers Key Observations• A republican victory fueled a rally in the U.S. equity markets in anticipation of […]
November 2024 Market Recap
October Market Review – Fall Back
October leaves markets in the red amid an otherwise upbeat year Key Observations• Despite a Federal Reserve rate cut in September, rising inflation concerns and […]
October 2024 Market Recap
September 2024 Market Recap
The Federal Reserve cut rates by 50 basis points during the month, leading to a rally in bond prices as investors anticipated lower future interest […]
2024 Third Quarter Considerations
The Federal Reserve has embarked on the latest cutting cycle, with an initial cut of 50 basis points at its September meeting. Uncertainty remains on […]
Private Markets Semi-Annual Update
Key Observations• Following two years of waning deal activity, the first half of 2024 has seen a promising rebound, with a year-over-year increase of 12%.1 […]
August Market Review – Shifting Sentiment at Summer Summit
Inflation improvement and weaker economic data shift Fed sentiment Key Observations• Markets were generally positive in August, despite a tough start to the month as […]
August 2024 Market Recap
The Federal Reserve acknowledged a cooling labor market and softening inflation at its Jackson Hole summit, indicating its willingness to shift policy. Interest rates fell […]
July Market Review – Small Cap Equities Heat Up in July
Falling rates and softer inflation contribute to a reversal in market leadership Key Observations• Softer inflation data released in July pushed interest rates lower and […]
July 2024 Market Recap
Interest rates moved lower across the curve during July following a favorable June CPI report which was released mid-month. Pricing in futures markets signal a […]
Mid-Year Update 2024
As we entered 2024, three themes encapsulated our updates for the year: The Messy Middle (of inflation), Prepare Not Predict and Concentrated Consequences. Each theme […]
2024 Second Quarter Considerations
Market Themes The U.S. Core Consumer Price Index fell throughout the quarter from 3.8 to 3.3 percent, the lowest since April 2021. The current market […]
June 2024 Market Recap
Interest rates fell across the U.S. yield curve during June. Markets continue to grapple with Federal Reserve language around the direction of rates amid disinflationary […]
May 2024 Market Recap
Fixed income volatility continued in May as markets continued repricing expectations for the timing of Fed rate cuts in 2024. Interest rates moved lower during […]
May Market Review – Patience & Pragmatism
A back-to-the-basics look at allocating capital efficiently Key Observations• A fixation on the direction of interest rates continues to drive prices in the short term, […]
The Next Chapter in the Active vs. Passive Debate
An Update to our Analysis of Performance, Consistency and Persistence The eighth iteration of “The Next Chapter in the Active vs. Passive Debate” in which […]
April Market Review – Ripple Effects
The impact of military conflict on markets Key Observations• Markets repriced in April on “higher-for-longer” rates pushing longer duration fixed income and duration sensitive equities […]
April 2024 Market Recap
Marketable Alternatives Mid-Year Update
Key Observations• A lackluster showing from hedge funds in 2023 was driven largely by an underweight to mega-cap U.S. stocks. However, despite mega-cap outperformance in […]
QDIA Update: Essential Insights and Emerging Trends
Key Observations• Target date offerings continued to garner the lion’s share of defined contribution assets and are now estimated to make up over 40% of […]
2024 First Quarter Considerations
March 2024 Market Recap
Private Markets Semi-Annual Update
Navigating Dispersion for Outperformance Key Observations• The full year of 2023 ended the way it started – with lower levels of activity across both fundraising […]
Looking Beyond the Label – A Focus on ESG Investment Due Diligence
As Markets Evolve, Research Processes Must Adapt At the outset of the decade, there was an apparent uptick in both interest and demand for “ESG” […]
Maximize Your Cash
Smart strategies to build and optimize your cash investments After 15 years of low interest rate policies, cash is back as a more attractive investment […]
February Market Review – Every Rose Has Its Thorn
The Cautionary Tale of Valuation Key Observations• Most risk assets advanced in February as optimism remains that the no-show recession of 2023 continues to fade […]
February 2024 Market Recap
January 2024 Market Recap
January Market Review – Wintery Mix Hits Markets in January
Changing interest rate expectations impact markets at the start of the year Key Observations• Markets were mixed in January, with U.S. large cap equities leading […]
Webcast: 2024 Essential Economic Update
Listen to Brad Long, Managing Partner, Chief Investment Officer discuss our annual capital market forecast and outlook for 2024. This video is intended for the […]
2024 Financial Planning Guide
The New Year provides a great opportunity to review and assess your overall financial wellness. Just as it is recommended to see your doctor for […]
2023 Fourth Quarter Considerations
December 2023 Market Recap
2024 Outlook – Prepare not Predict
Interest Rate Challenges into Opportunities Key Observations• Our 10-year return forecasts show increased opportunity across fixed income and real assets with a modest step back […]
November Market Review – Cheerful for the Holidays
Markets rallied in November giving investors plenty for which to be thankful Key Observations• Longer dated interest rates experienced a significant decline as market sentiment […]
November 2023 Market Recap
Webcast – Fiducient Speaker Series: Private Markets Update
The private markets landscape has shifted amidst Central Bank interest rate increases as LPs, GPs and intermediaries have navigated with increased caution. This has resulted […]
October Market Review – A Spooky October Adds to Concerns
The S&P 500 Enters Correction Key Observations• The S&P 500 entered a “correction”, defined as a pullback of 10% or more; intra-year corrections are not […]
October 2023 Market Recap
Webcast: Third Quarter Capital Markets Update
Brad Long, CFA, Partner, Chief Investment Officer and Rob Lowry, CFA, Associate Research Director, discuss: – Recession preparation, not prediction – Rising opportunity through rising […]
Private Markets Semi-Annual Update
Adapting amid shifts and spotting silver linings Key Observations Introduction Private market participants, from Limited Partners (LPs) to General Partners (GPs) and intermediaries, have been […]
2023 Third Quarter Considerations
Mission-Aligned Investing: Where Are We and Where to Next?
The 2022 bear market and 2023’s Federal Reserve’s rate hiking cycle are likely impacting trends in ESG investing – not to mention changes in regulation. […]
September 2023 Market Recap
August Market Review – Summer Doldrums
Markets took a step back in August as sentiment shifted surrounding Fed policy Key Observations• Fitch downgraded the United States’ credit rating to AA+ from […]
August 2023 Market Recap
July Market Review – Markets Heat Up in July
Favorable economic data fuels risk assets as markets post solid gains during July Key Observations• Markets posted favorable returns in July as investors found renewed […]
Mid-Year Capital Markets Update
Recessionary Resilience – Defying Expectations Key Observations• In our 2023 Outlook, Goodbye TINA, we outlined three broad themes that were likely to influence markets in […]
2023 Second Quarter Considerations
May Market Review – Relief From the May-hem?
All eyes remain on Congress as the June “x-date” approaches Key Observations• Market volatility persisted in May as investors try to digest potential Fed policy […]
Marketable Alternatives Mid-Year Update
Key Observations • Hedge funds shined in 2022 when both equities and fixed income markets experienced sharp declines.• Diversification across various hedge fund managers and […]
April Market Review – The Fed Effect
The Impact of Higher Rates Are Taking Hold Key Observations• Muted returns of broad market indexes for the month of April hide the churn underneath […]
April 2023 Market Recap
Target Date Year in Review
A look back on the target date landscape in 2022 Key Observations What A Year! As we look back on calendar year 2022, there are […]
The Next Chapter in the Active vs. Passive Debate
An Update to our Analysis of Performance, Consistency and Persistence This is our seventh iteration of “The Next Chapter in the Active vs. Passive Debate” […]
Private Markets Annual Update
A look into how the year in private markets unfolded and thoughts for a successful 2023 Key Observations• The pace within private markets – from […]
March 2023 Market Recap
2023 First Quarter Considerations
Webcast: Fiducient Speaker Series with Matthews Asia
As the world’s largest exporter of goods and the second largest economy, China is an important part of the global markets. Join us to hear […]
The Fed’s Inflation Target is Not Yours – Investors waiting for the magic 2% may miss the boat
Inflation matters in many ways, but most importantly for markets today is the force behind the Federal Reserve’s actions. It’s primary tool to cool inflation […]
February Market Review – Hot Data, Cool Markets, Good News
While markets retreat, the shift in rate expectations shows signs the end of rate hikes is near Key Observations• Strong economic data pushed market expectations […]
February 2023 Market Recap
Webcast: Diagnosing and Treating Defined Benefit Plans for Healthcare Organizations
Fiducient Advisors and October Three Consulting address some of the key pain points afflicting the defined benefit plans of many hospitals and healthcare organizations. This […]
Webcast: Assessing Your Financial Wellness – Important Considerations for 2023
The start of a new year is a great time to review key financial planning considerations and what potential personal impact recently passed legislation such […]
January Market Review – Markets Start 2023 Off with a Bang
Filter out the noise and stay the course Key Observations• Broad asset classes rose higher off 2022 lows on cooling pricing pressures and the possibility […]
January 2023 Market Recap
2023 Financial Planning Guide
The New Year provides a great opportunity to review and assess your overall financial wellness. Just as it is recommended to see your doctor for […]
Webcast: Secure 2.0 Act – Key Provisions and Actionable Takeaways
Fiducient Advisors’ Steve Dufault and T. Rowe Price’s Aliya Robinson provide insight into the new Secure 2.0 Act. This 30-minute webcast will: • Detail the […]
Webcast: 2023 Essential Economic Update
Bob DiMeo, CEO and Brad Long, Partner, Deputy Chief Investment Officer host our annual capital market forecast and outlook for 2023. This informative and concise […]
December 2022 Market Recap
2022 Fourth Quarter Considerations
2023 Outlook – Goodbye TINA (There is No Alternative)
Key Observations Our investment views are based on a simple idea: as facts change, so may our outlook. The last few years have been an […]
November Market Review – A Pivot to Pause?
Signs of peaking inflation and the potential for central bank moderation in 2023 pushed equity markets higher in November. Key Observations• Risk assets rallied on […]
November 2022 Market Recap
10 Planning Opportunities to Consider Before Year-End
Year-end is fast approaching, with the holidays just around the corner. While the market malaisemay be front-and-center on the minds of many, individuals should not […]
Webcast: Current Trends in Target Date Fund Litigation
Litigation of 401(k) plan fee and investment fund performance is on the rise. Fiducient Advisors’ Ryan Gardner and Thompson Hines’ Tim Brown and Brian Lamb […]
October Market Review – Bear Hunting
The best way to find something is to know what you’re looking for. Key Observations• Equity markets broadly enjoyed a reprieve from September lows, but […]
October 2022 Market Recap
Webcast: Fiducient Speaker Series with Greg Valliere
Greg Valliere, Chief U.S. Policy Strategist for AGF Investments and Brad Long, CFA, Fiducient Advisors’ Deputy Chief Investment Officer provide a brief update on upcoming […]
Watch Now: Third Quarter 2022 Update
Watch Fiducient Advisors’ Brad Long, CFA, Deputy Chief Investment Officer in our Third Quarter 2022 Quarterly Update. This on-demand video covers: • Current market […]
September 2022 Market Recap
Private Markets Move Along in More Challenging Market Environment
Private Markets Semi-Annual Update – Summer 2022 Key Observations• While longer term performance remained strong, one-year return calculations have moderated across all private equity strategies.• […]
August Market Review – Fresh Mountain Air, Same Hawkish Stance
A firm stance on fighting inflation from Jackson Hole pushed markets lower as investors wrestle with the impact on the global economy. Key Observations• Markets […]
August 2022 Market Recap
Webcast: Fiducient Speaker Series with Liz Ann Sonders
Liz Ann Sonders, Chief Investment Strategist for Charles Schwab and Brad Long, CFA, Fiducient Advisors’ Deputy Chief Investment Officer provide a brief update on what […]
Target Date Funds: Evaluating and Selecting
An analysis of target date risks and alignment with Plan Sponsor objectives Key Observations • The Qualified Default Investment Alternative (QDIA) investment decision is among […]
July Market Review – Making Hay While the Sun Shines: Earnings in Focus
Markets eye earnings reports for forward guidance in a challenging environment Key Observations• July provided solid respite after a difficult first half of 2022, with […]
July 2022 Market Recap
Webcast: Mid-Year Capital Markets and Economic Update
Fiducient Advisors’ Chief Investment Officer, Matt Rice, CFA, CAIA and Chief Market Strategist, Chris Kachmar, CFA present a timely and insightful discussion regarding: – The […]
June 2022 Market Recap
2022 Second Quarter Considerations
Webcast: NextGen Success – Planning Today for a Better Tomorrow
A well-constructed financial plan begins with a solid foundation for making informed financial decisions. Planning for the long-term might feel like a low priority for […]
Mid-Year Capital Markets Update
Reassessing the Evolving Market Landscape Key Observations• As outlined in our January 2022 Outlook – Navigating Moderation, we anticipated a challenging investment environment with heightened […]
May Market Review – Mayday? The probability of an economic slowdown has risen, but we believe growth will remain positive
Market Recap On the surface, market returns in May appeared to be uneventful and were modestly positive. However, the reality within the month was far […]
May 2022 Market Recap
Webcast: Designing and Maximizing a Cash Balance Plan
• Cash Balance Plan design and implementation• Investment strategies for different plan objectives and changing market conditions• Legal and regulatory updates• Tax advantages and design […]
Webcast: Market Volatility & Outlook
Market fluctuations may be causing worry among investors, prompting questions around portfolio positioning and what to do going forward. Listen to Fiducient Advisors discuss the […]
Changing Dynamics in the Secondaries Market
Introduction Secondary funds are a key access point and allocation strategy for many private markets investors. Historically, these strategies have been characterized as lower volatility […]
April 2022 Market Recap
April Market Review – When Hawks Cry – A hawkish tone from the Fed leaves investors in a sad state
Market Recap “I would say 50 basis points will be on the table for the May meeting,” said Chairman Powell on April 21 during a […]
Webcast: Why Fiduciary Liability Insurance is Needed More Than Ever
Litigation arising from the management of employee benefit plans has increased dramatically in recent years notably “excessive fee” litigation. New federal laws, regulations, guidelines and […]
Webcast: First Quarter 2022 Capital Markets Update
Investors are being confronted by a broadening array of concerns in 2022. Listen to Fiducient Advisors’ Chris Kachmar, CFA and Rob Lowry, CFA outline how […]
2022 First Quarter Considerations
March 2022 Market Recap
Webcast: Current Impact & Future Implications – The Russia and Ukraine Conflict
Fiducient Advisors’ Brad Long, CFA and David Polak, Equity Investment Director at Capital Group provide an informative and concise discussion on the Russia and Ukraine […]
Private Markets Prosper During Pandemic:
Private Markets Semi-Annual Update
Key Observations • Annual deal activity surpassed historical highs as total private equity deal value reached approximately $1.2 trillion, nearly twice that of 2020.1 • […]
February Market Review – Variations on a Theme
New catalysts provided fuel to the fires of inflation and volatility
Key Observations• Positive macroeconomic news in early February was overshadowed by Russia’s invasion of Ukraine during the last week of the month. Markets were broadly […]
Fixed Income Complacency – The Practical Side of Fixed Income Today
Key Observations• Long-term falling interest rates and modest inflation have left many investors complacent about the risks and opportunities within their fixed income portfolios.• We […]
February 2022 Market Recap
Webcast: Cutting Through the Noise – Important 2022 Planning Updates
With the potential for significant legislation such as the Build Back Better Act or SECURE Act 2.0 to be passed in the coming months, Fiducient […]
In Focus: Russian Invasion of Ukraine – Current Update, Implications & Outlook
Key Observations• Russia launched a series of coordinated attacks on Ukraine causing increased volatility in global markets and raising investor concern.• Risk assets retreated on […]
January 2022 Market Recap
Inflation, the Fed, Correction; Oh My!
Key Observations• Many markets entered a technical correction (defined as a 10 percent pull back or more) in January as headline inflation reached levels not […]
2022 Financial Planning Guide
The New Year provides a great opportunity to review and assess your overall financial wellness. Just as it is recommended to see your doctor for […]
2021 Fourth Quarter Considerations
Webcast: 2022 Essential Economic Update
Fiducient Advisors’ Bob DiMeo, Matt Rice, CFA, CAIASM and Brad Long, CFA provide an informative and concise discussion on: Our 2022 Market Outlook – Navigating Moderation Updated […]
December 2021 Market Recap
2022 Outlook – Navigating Moderation
Our 2021 Outlook “Poised for Growth” did a fair job encapsulating last year as markets, economies and inflation (the current favorite word in the investing […]
Nine Moves to Consider Before Year-End
Planning Ahead and Reaping the Benefits
Year-end planning could prove more challenging in 2021, given continued uncertainty over tax reform. The social safety net and climate bill known as the “Build […]
Markets Pause as a New COVID Variant Emerges and the Fed Strikes a Hawkish Tone
Key Observations• Global equity markets took a step back in November, with investors favoring safe-haven assets.• Emergence of the new Omicron COVID variant and more […]
November 2021 Market Recap
Carve Your Turkey, Not China
As China’s position size in the emerging markets index has grown so has interest in carving it out from a broader emerging markets (EM) allocation. […]
Markets Unfazed by October Frights
Key Observations• Equity markets rebounded in October to new all-time highs.• Treasury yields trended higher, leading to modest declines across most fixed income asset classes.• […]
October 2021 Market Recap
Video: Third Quarter 2021 Capital Markets Update
Join Fiducient Advisors’ Brad Long, CFA and Chris Kachmar, CFA for our Third Quarter 2021 Capital Markets Update. In this on-demand video, Chris and Brad […]
Tax Update: Four Planning Considerations Despite Legislative Limbo
The Current State of Tax Negotiations More than six months after President Biden outlined key tax policy proposals, taxpayers are still waiting for clarity on […]
2021 Third Quarter Considerations
September 2021 Market Recap
In Focus: China’s Regulatory Shifts Impacting Emerging Markets
Key Observations• Chinese equities delivered significant negative returns in 2021 while other emerging and developed markets returns have been positive.• This underperformance has been sparked […]
The Next Chapter in the Active versus Passive Debate
We have completed the sixth iteration of our research study titled “The Next Chapter in the Active versus Passive Management Debate” where we evaluate the […]
Private Markets Updates: Growth and New Highs
Key Observations• Q2 2021 registered the second-highest quarterly Private Equity deal activity in a decade.• Overall exit value for Private Equity deals in H1 2021 […]
Video: DOL Cybersecurity Guidance for ERISA Plans
The world of cybersecurity is constantly evolving and changing. Join our speakers as they delve into the recently published DOL guidelines:• Jim Jensen, Partner and […]
Summer Rain Feeds the Equity Market
Key Observations• Equity markets largely shrugged off headline risks through the month and posted positive returns. The S&P 500 Index has returned over 20 percent […]
August 2021 Market Recap
Seeking Clarity on Tax Reform – The Wait Continues…
This past April, the Biden administration announced the $1.8 trillion American Families Plan, which would expand access to education, affordable childcare and various tax credits. […]
‘Normalcy’ Moves Markets Higher, but Concerns Rise
Key Observations• Many broad market indexes posted positive returns for the month of July with some U.S. indexes hitting all-time highs.• However, recent trends favoring […]
July 2021 Market Recap
Video: Who Said U.S. Stocks are Boring? U.S. Macro Update
The evolving world of SPACs, MEMEs, IPOs and FAANGs have shifted the dynamics for investors. Join the Fiducient Advisors U.S. Equity Research Team to hear […]
Video: Mid-Year Economic & Capital Markets Update
Fiducient Advisors’ Matt Rice, CFA, CAIASM and Brad Long, CFA provide a timely and insightful discussion on: The global economic expansion The recently elevated level of inflation Resiliency […]
2021 Mid-Year Outlook:
Economic recovery, updated vaccine and portfolio considerations
Key Observations Financial market returns year-to-date coincide closely with the premise of an expanding global economic recovery. Economic momentum and a robust earnings backdrop have […]
June 2021 Market Recap
Fiducient Features: Inflation Q&A
Whether rising inflation proves to be transitory or more constant, elevated prices may have a meaningful impact on the economy and financial markets. Investors should […]
2021 Second Quarter Considerations
A Primer on In-Plan Retirement Income
Key Observations• Plan Sponsors and advisors historically assisted participants in the accumulation phase of retirement planning. More recently, greater attention is being placed on the […]
Video: The Biden Administration’s Tax Proposals
With negotiations just beginning over the Biden administration’s tax proposals, Fiducient Advisors’ Nicholas Breit is joined by Deborah Denno, CPA, Tax Partner at Federman, Lally […]
Considerations for Bitcoin Investors
Key ObservationsRecent returns, greater accessibility and broader backing of Bitcoin have led to broader adoption by investors, custodians and developers. While recent returns, low correlations […]
Markets Navigate an Evolving Inflation Landscape
Key Observations• Global capital markets generally posted modest gains during May with value stocks outpacing their growth counterparts and international markets topping U.S. stocks.• Declining […]
May 2021 Market Recap
Video: Fiducient Speaker Series with Rupal Bhansali
We invite you to virtually attend our Fiducient Speaker Series featuringRupal Bhansali, Chief Investment Officer and Portfolio Manager at Ariel Investments. Fiducient Advisors’ Matthew Porter […]
Economic Momentum Propels Capital Markets Higher
Key Observations • Equity markets across the globe advanced in April and, in a reversion to return patterns witnessed earlier in the pandemic, were led […]
Biden Administration Tax Proposals
On April 28, the White House released the “American Families Plan” which outlines the administration’s goals for investing in children, families and U.S. workers. The […]
April 2021 Market Recap
Video: Setting a Fiduciary Framework
Please join us for a timely webcast on Setting a Fiduciary Framework with Fiducient Advisors’ Vin Smith, Carol McShera and Steve Dufault. Join this webcast […]
Video: First Quarter 2021 Capital Markets Update
Join Chris Kachmar, CFA, Paula Romanchuk, CFA and Rob Lowry, CFA for our First Quarter 2021 Capital Markets Update. Driven by a fresh round of […]
2021 First Quarter Considerations
March 2021 Market Recap
Economic Activity Accelerates Heading into Spring
Key Observations • March was another strong month for risk assets, particularly in the U.S. as vaccine manufacturing and distribution ramped up• Loosening COVID restrictions […]
In Focus: Fed Sees Improvement but Leaves Policy Unchanged
As expected, the Federal Open Market Committee (FOMC) left the federal funds rate near the zero bound and affirmed its plan to continue with asset […]
Webcast: Cash Balance Plans – Three Things You Need to Know
Please join us for a timely webcast on Cash Balance Plans featuring Fiducient Advisors‘ Brian Carlson and Kate Pizzi. Join this webcast for a discussion […]
Private Markets Winter 2021 Update
After an unusual start to 2020, the second half of the year seemed more like prior years in terms of recent activity and pace for […]
Treasury Volatility Returns as Stocks Advance
Key Observations • The Treasury curve steepened during the month with a sharp rise in the 10-year and 30-year yields, pushing both to pre-pandemic levels.• […]
February 2021 Market Recap
January 2021 Market Recap
Optimism Abounds: Equity Rally Stalls but Catches Breadth on Positive Earnings
Key Observations • U.S. equity returns were mixed after a strong December rally while the Treasury curve steepened as investors bet that policymakers would swiftly […]
DOL Final Rule on Use of Financial Factors in Selecting Plan Investments
The Department of Labor (DOL) has issued its Final Rule regarding the use of financial factors in selecting investments in plans subject to ERISA. The […]
Webcast: 401(k) & 403(b) Litigation
Please join us for the latest on defined contribution plan litigation with: Virginia McGarrity, Partner at Robinson + ColeBrian White, Senior Consultant at Fiducient AdvisorsMike […]
2021 Financial Planning Guide
The New Year brings changes to a variety of financial planning areas such as investing, tax planning, estate planning and more. The Wealth Office® at […]
2020 Fourth Quarter Considerations
2021 Outlook: Poised for Growth
Key Observations Financial assets produced remarkable returns over the final nine months of 2020, characterized by rising equity valuations and narrowing credit spreads amid a […]
December 2020 Market Recap
Diversity, Equity & Inclusion in Investment Management
Topics for discussion will include: Critical themes when allocating capital in mission related investmentsAddressing diversity in the investment management ecosystemThe present and future of capital […]
Private Markets – Impact Investing
• Impact investing is a rapidly growing field that has the potential to increase mainstream adoption across institutions and deepen the influence of long-term and […]
ESG Data Perspectives – Shared Purpose May Not Lead to Shared Interpretations
• As demand for ESG (Environmental, Social and Governance) products grows, the influence of ESG ratings and data providers continues to increase. • Individual agencies’ […]
A “Glass Half Full” Market
Key Observations • November once again displayed the forward-looking nature of markets as global equities reacted positively on news that a vaccine may be distributed […]
November 2020 Market Recap
Tax Reform: On Hold for Now?
During his presidential campaign, Joe Biden outlined his tax policy proposals1, which included rolling back key provisions from the Tax Cuts and Jobs Act (TCJA). […]
Evaluating Year-End Planning Opportunities Amid Tax Reform Uncertainty
Benjamin Franklin advised, “Don’t put off until tomorrow what you can do today.” This adage feels particularly applicable to high net worth individuals concerned over […]
Is Big Tech All You Need?
Recent narrow market rallies have forced us to focus on market indices and the overall role of the largest stocks. While concentration is hardly a […]
Recent Trends in Hedge Funds: An Ever-Evolving Industry
During the last few years, the hedge fund industry has seen its share of undesirable headlines, and yet investors continue to allocate to the space, […]
In Focus: Markets Rally on Early Election Results
Global pandemic, unprecedented government stimulus, record low GDP report, booming technology stocks and a red-hot IPO market – 2020 has been quite the year – […]
Fiscal Stimulus Tricks, No Treat for Markets
Key Observations • Rising COVID-19 cases and a failure from policy makers to pass further fiscal stimulus weighed on equity markets.• Third quarter GDP indicated […]
October 2020 Market Recap
Slugging Percentage – A New Metric for Evaluating Manager Performance
Tracking Error is a flawed metric. Its role as the denominator in Information Ratio inhibits Information Ratio’s capacity to retroactively assess the success of a […]
What the Election Means for My Portfolio
While elections are important to any functioning democracy, to investment professionals, elections are primarily significant due to their effect on portfolios. In particular, investors must […]
2020 Third Quarter Considerations
Quarterly Considerations Retirement Plans • Established Defined Contribution Business Council responsible for the strategic direction, oversight and fiduciary governance program for the firm’s DC practice. […]
In Focus: Use It or (Potentially) Lose It
With estate and gifting limits currently at favorable levels, high net worth individuals have ample estate planning opportunities. However, with the presidential and congressional elections […]
Tech Tumbled, Ended Risk Asset Rally – U.S. Dollar, Rising Volatility and Election Risks
Key Observations • U.S. dollar strengthened in September as the effects of existing monetary stimulus wane and expectations for fiscal stimulus before the election fade. […]
Private Markets 2020 Update
As the effects of the pandemic continue to ripple across markets and the economy, private market investors are getting a first look at actual data […]
September 2020 Market Recap
An Examination of International Equity Diversification
• Since the mid-1990’s, the superior risk-adjusted returns investors once received from regionally diverse equity allocations has faded as domestic stocks have outperformed developed international […]
Breaking the Rules in Fixed Income Index Construction
As fixed income markets evolved over the last cycle, we extensively examined and analyzed new risks present in benchmarks with a focus on increased interest […]
Pension Expense Volatility – Can You Have Your Cake and Eat it Too?
Many sponsors of defined benefit plans focus their investment strategies mainly on mitigating the impact of the company’s pension program on its balance sheet; however, […]
Mission-Aligned Investing 104: Measure
In our fourth installment, Mission-Aligned Investing: Measure, we answer: ‘How do you measure a mission-aligned portfolio?’ Your organization set the objective, picked the strategy and […]
Considerations for Alternative Asset Investors
Uncertainty surrounding the magnitude of the COVID-19 outbreak coupled with a strong selloff in crude oil prices and energy-related companies have pushed global stocks into […]
Emerging Markets – Better Than Expected?
• Emerging markets equities performance has held up amid global concerns over the novel Coronavirus • This is due to large country concentrations within the […]
Time to Rebalance Your Portfolio? Yes and Here’s How in Three Simple Steps
The four most dangerous words in investing might be: It’s different this time. But in many respects the COVID–19 crisis compels investors to view things […]
ESG in Defined Contribution Plans
Environmental, Social and Governance (ESG) investing is garnering attention in Defined Contribution (DC) Plans due to participant demand. As a result, Plan Sponsors are evaluating […]
Private Markets: Creating Value
• Private equity firms’ ability to control companies enables them to enact change and create value during their hold period • Sophisticated operating resources can […]
Mission-Aligned Investing 103: Implement
Mission-Aligned Investing 102: Approach
In our first paper in this series we focused on defining mission-aligned investing. In our second installment, Mission-Aligned Investing: Approach we seek to answer the […]
LDI Debate
Key Observations • The combined expectations of the Tax Cuts and Jobs Act’s (tax reform) and shifting capital markets have created new and timely reasons […]
Mission-Aligned Investing 101: Define
