Investment governance plays a critical role in the ability of families with substantial wealth to define their financial objectives and formulate a strategy for a diversified portfolio. This paper provides an overview of investment governance that families can use in the development of their own investment decision-making framework.
Asian markets have had a difficult year, but while the current environment has been challenging for most investments, it has also created an opportunity for more defensive and diversifying strategies to add value. In this edition of Asia Insights, we focus on the case for Asia quality strategies within public equities; increased interest in India and Southeast Asia venture capital markets; private infrastructure and private credit as defensive strategies; and the value in Asia macro and equity long/short.
Yes. The hawkish Federal Reserve and energy market challenges have contributed to a strengthening of the US dollar in recent quarters, and we expect that trends in both factors may continue to be supportive of the dollar in the short term. Nonetheless, on a longer horizon, historical precedents suggest that the dollar is approaching the end of a multiyear bull run.
The Federal Reserve announced its third consecutive interest rate increase of 75 basis points (bps) today, bringing the Fed funds target range to 3.00%–3.25%.
As next gen investors and principal wealth owners think about meeting both near- and long-term wealth management challenges, they should consider three core pillars of building a lasting family legacy: shared values, strong wealth governance, and a clear, long-term investment policy.
A major Ethereum blockchain software upgrade was successfully completed earlier today, marking a landmark event for the digital assets industry. The upgrade, known as the “merge,” changes how transactions are verified on Ethereum’s blockchain and dramatically improves its energy efficiency. While this is welcome news, we doubt this means the rout in digital assets prices is over in the near term, as macro headwinds continue to be the most important factor driving prices.
Most defined benefit plans–including public, multi-employer, and even frozen corporate plans–can benefit from private investment (PI) strategies. Despite this, many plan sponsors still abruptly cut off PI commitments or do not optimize their usage as the plan matures. This paper explores how plan sponsors should utilize PI strategies within their toolkit and customize their composition over time to reflect a plan’s evolving goals.
No. Despite the recent spate of lockdowns in China, we still anticipate some form of easing of the current zero-COVID policy and increased support for the economy following the Party Congress in October.
Currently, there is an active debate about whether the United States is in a recession. Two quarters of negative GDP fits one definition of a recession; however, the National Bureau of Economic Research looks at a greater expanse of data before making its assessment. In this note, we examine some of this data, dig into other line items in the national accounts, and look at historical trends in employment around recessions to further our understanding and put today’s labor market into context.
Yes. The Inflation Reduction Act (IRA) will generate significant benefits for companies involved in clean energy. The bill is anticipated to provide almost $370 billion over the next decade to a variety of industries, including utilities, transportation, and manufacturers of products such as batteries and solar components.