Investment Planning

Healthcare System Investments: Play Defense Before Offense

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The COVID-19 pandemic financially shocked healthcare system enterprises and investment portfolios, but those shocks were short lived and the recovery was swift. However, challenges still exist as revenue and expense pressures weigh upon healthcare margins in 2022, and many elements of delivering healthcare have changed the way hospitals plan and prepare for the future. To implement a successful long-term investment program, the investment playbook may call for building a solid defense before playing offense in the implementation of a long-term investment strategy.

While Great Entrepreneurs Leap, Great Investors Plan

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As entrepreneurs know well, the process of creating and managing a successful business is complex and requires great skill, insight, and hard work. Successful management of significant wealth requires similar attributes; however, not all the characteristics fundamental to entrepreneurial success translate to effective portfolio management. This paper presents five recommendations for those looking to build an investment framework that can be as successful and personally rewarding as building a business.

Business Ownership at a Crossroads: Key Questions for Planning What’s Next

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Private business owners who hold the majority of their wealth in one company are different from other investors. They face unique challenges when making investment decisions, including the fundamental question of whether to retain a concentrated position in their business. In this paper, we share some key questions business owners can ask themselves to help arrive at answers best suited to their own unique needs.

Keep Your Pencil Sharp on Your Active Value Exposures

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The prospect of higher interest rates has contributed to recent equity market volatility and provided a wake-up call for investors underweight some traditional value sectors. What may surprise some investors is that even managers that style themselves as value-oriented may be underweight bellwether value sectors. Now is a good time to sharpen your pencil on value manager exposures.

Pension Risk Transfers Have Several Downside Risks for US Plan Sponsors

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The Pension Risk Transfer (PRT) market has grown markedly over the past decade as recent regulatory changes, coupled with greater pricing competition from insurers, have increased the popularity of PRTs. However, for many plan sponsors, PRTs are not the best solution. Plan sponsors should fully understand the potential impact of a risk transfer transaction on their plan, specifically as it relates to three dimensions explored in this paper: funded status, risk reduction, and future costs. Without this understanding, the hidden cost of these transactions may go unnoticed.

Developed Markets Monetary Policy and Rates Outlook

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Government bonds have sold off to start the year as central banks tighten policy in response to inflation pressures. The rise in yields this year may meet some resistance in the near-term, but likely has more room to run given the economic backdrop and policy trajectory. Of course, the war in Ukraine and its impact on the economy will be a key driver of rates for the duration of the conflict.