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February 20, 2014 | Active Management
Security diversification refers to the allocation of a portfolio across different securities, so that no single security makes up too large a percentage of the portfolio. Sector diversification takes this idea one step further, making sure that the portfolio is distributed among multiple …
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All AudiencesFebruary 13, 2014 | Investment Themes
Over the long-run, investors must successfully manage key risks, including capital risk, reinvestment rate risk, and inflation risk. Years of disinflation coupled with very low market expectations for future inflation have lulled many into a false sense of security that inflation can’t happen …
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All AudiencesJanuary 02, 2014 | Retirement Plans
Introduction A well-structured and well-communicated investment menu can help Plan Sponsors manage their fiduciary liability and is key to minimizing a wide range of common problems associated with participant-directed plans. To that end, lifestyle or risk-based options have been promoted as a …
October 03, 2013 | Active Management
While each market cycle is unique, in general a full market cycle includes periods of declines, recovery, and incremental growth, and should thus represent an unbiased time period for evaluating the performance of an investment manager. Most Market Cycles are Valuation-Driven Many times …
November 30, 2012 | Market Commentary
Investor attention quickly shifted toward the “fiscal cliff” following the conclusion of this year’s election. Recent market weakness reflects the widespread uncertainty surrounding expiration of a variety of tax cuts and the advent of certain austerity measures at the federal level early in 2013. …
September 10, 2012 | Market Commentary
The uncertainty and volatility dominating equity markets in recent quarters has led investors to seek shelter in perceived safe haven investments such as defensive sectors of equity markets and high dividend paying stocks. The strong performance of these areas is a direct reflection of …
August 09, 2012 | Retirement Plans
The increased scrutiny target date funds have received following the global stock market downturn of 2008 and early 2009 highlights the importance of understanding their structures and mechanics, with particular attention paid to the glide path. However, it is also important to acknowledge that …
May 20, 2012 | Active Management
Introduction For years, investors have universally accepted that risk and return are inherently two sides to the same coin. You cannot have return without risk. However, while investment returns are obvious; investment risk is much more subtle. If you ask three investors to define risk, you will …
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