The Closed End Funds Channel

All Asset All Access, December 2019

Research Affiliates discusses why they believe value investing is still alive and well and explains how changes to the display of expense ratios seek to enhance clarity for investors.

Sifting Through the Froth

Positive returns across asset classes in 2019 may limit tax loss selling in closed-end funds, but we see potential long term value in select sectors where investors can still buy assets at a discount.

Navigating U.S. Wealth Management: Seven Ideas for Financial Advisors and Individual Investors in 20

We aim to support wealth management firms, advisors, and investors as they assess portfolio strategy and navigate the shifting trends we face in the new year.

Weighing the Week Ahead: All Eyes on Black Friday

The economic calendar is loaded with data and we have a holiday-shortened week. In some circumstances the many economic reports and the Washington stories would dominate. This week the market and economic context suggests a different theme.

Macro Factors and Their Impact on Monetary Policy, the Economy, and Financial Markets

In October the International Monetary Fund (IMF) lowered its 2019 GDP forecast to 3.0% from 3.2% in July. This represents a marked slowing from global growth of 3.8% in 2017. The primary driver of the slowdown has been a retrenchment in global trade and business investment in response to the ratcheting up of trade tariffs since early 2018.

Weighing the Week Ahead: A Time for Investors to Act

The economic calendar is a light one in sharp contrast to last week’s. That was a good time to observe the market reaction to a wide range of news. Now is the time for investors to use the information.

Looking for Cover

Covered call strategies in a closed-end fund may help long-term investors manage short-term volatility.

Asset Allocation Views: Easing Into Slowing Growth

Read our key takeaways from our 2019 Asset Allocation Midyear Update, including how we are positioning multi-asset portfolios in light of our outlooks for the global economy and markets.

War (What is it Good For?)

Economic uncertainty has spiked given the escalating U.S.-China trade war; with increasing risk it weakens the dividing line between the manufacturing and consumer sectors.

Weighing the Week Ahead: Get Out, Hide Out, or Ride It Out?

The economic calendar is normal, featuring housing starts, retail sales, and Michigan sentiment. The CPI will be important someday, but only when it breaks the recent path of gentle increases. With summer vacations in full swing (even Congress is on a five-week recess) the punditry turns to tried and true topics...

Gundlach: Fed will be in "Panic Mode" When a Recession Hits

If the signs of a recession prove true, the Fed will be in panic mode, according to Jeffrey Gundlach. The economy will weaken, rates will go up and the Fed will have to “do something,” to protect against a “spiral” of higher rates feeding and slower growth.

Worried Index-Based Strategies are Distorting the Bond Market? The Data Says You Shouldn’t Be

Despite record inflows into fixed income ETFs, concerns around the growth of these funds leading to an outsized impact on the fixed income market and the distortion of bond prices are still overblown, according to the data.

Energy Misconceptions

Investors are not always told the full story before they invest. In this case, we are constantly told that electric vehicles offer the way forward, but evidence is mounting that they are actually polluting more than petrol or diesel cars. The penny just needs to drop as far as our political leadership is concerned.

How to Respond To Complaints about Fees

Fees are the root of most client conflicts. Clients say they are too high and you defend them based on the value being added. An interesting study provides insight for how to handle these (and other) conflicts.

Building Unlisted Infrastructure into Your Portfolio – Overcoming Four Key Obstacles.

Does exposure to unlisted infrastructure benefit the average portfolio?