The national economy is showing signs of life, state and local tax receipts are on the rise, local budgets are returning to balance. Nevertheless, Moody’s and S&P are downgrading more tax-supported credits than they are upgrading. On the surface such rating actions may seem incongruous with the economic conditions. But, in fact, they are all too predictable for those familiar with the municipal market. Ratings assigned by the major public ratings companies are a backward-looking indicator of an issuer’s credit worthiness.
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With interest rates at historically low levels, fixed income investors have become increasingly concerned about rising rates and how their portfolios might be affected. However, rising rates do not necessarily mean negative total returns for fixed-income investments. This paper examines the factors that can affect interest rates, as well as how fixed-income investments can respond as rates rise.
Of course, we’ve all heard the term “globalization.” It’s quickly become one of the most fashionable buzzwords of contemporary political and economic debates. Just as trade has been increasing and manufacturing has moved abroad, the capital markets have been “globalizing.” By expanding your fixed income investment horizon to include the world, you can substantially enhance your opportunity set.
This paper explores the concept of Volatility harvesting (using Volatility as an asset within your portfolio), or the extra growth generated from systematically diversifying and rebalancing.
Volatile financial markets can create potential problems for investors and their advisors. While many expenses are generally fixed, assets designated to fund expenses may increase or decrease in value. In a worst case scenario, managers may have to liquidate assets at potentially “distressed” levels to meet these obligations. This paper reviews a few current strategies available to help Individuals deal with this ever present issue.
The fourth quarter 2012 issue of Global Foresight features a discussion of the recent QE3 (quantitative easing) announcement by Federal Reserve Chairman Ben Bernanke and the related inflation and market implications, along with a discussion of the current geopolitical overlay.
Selecting the proper financial structure and advisory relationships for your family is a significant job. Managing Director Brad Fisher discusses the three stages of the selection process and the questions wealth owners should ask in this white paper.
Modifications, reformations and decanting of a trust have all gained in popularity as a result of modernized trust laws, changes in family circumstances and/or a desire to change trust administration. This paper looks at some of the benefits of South Dakota's decanting, modification and reformation statutes.
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Act) reinstated the gift, estate and generation-skipping transfer (GST) taxes that were repealed earlier in 2010. The reinstatement comes with increased transfer tax exemptions and favorable rates for 2012. Get a closer look at the details in this white paper.
The term “family bank” grew from the idea that a Dynasty Trust can act much like a traditional bank by providing resources to fund particular needs of beneficiaries in successive generations, for instance, purchasing real estate and other large assets, funding business endeavors, providing family distributions to fund “health, education, maintenance and support” (HEMS) expenditures and so on.