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The Tax Cuts and Jobs Act of 2017 created a new tax incentive, the Qualified Opportunity Fund (QOF), designed to encourage long-term investment in low income communities.

Scientists warn of dire consequences to the environment due to climate change, from devasting droughts to massive flooding—effects we’re already starting to experience globally. In this context, it may be particularly important to look at an aspect of the issue which has received less attention: the nexus of gender and climate change. Gender lens investing and other efforts to reach gender parity can be a critical lever to reducing the negative impacts of climate change.

2018 was a tough year for investors, with most major asset classes finishing with flat-to-negative returns for the calendar year. Worries over monetary policy, economic growth, and trade wars are largely responsible for 2018's dismal results.

The stock market’s dramatic recovery so far in 2019, after a dismal fourth quarter of 2018, has left many casual market observers wondering “What changed”? U.S. economic data continues to reflect a modest slowdown, Europe struggles with anemic growth and Brexit uncertainty, and China grapples with a slowing growth rate and enormous debt. The global economic growth continues to look a bit shaky.

Cannabis and industrial hemp are projected to be large disruptors across many industries that include agriculture, construction, energy, textiles, and law. The industry is also moving at an accelerated pace and has opened up global investment opportunities. How to participate in this sector and how to perform proper due diligence are the questions many high net worth investors are asking. The first step is to not allow emotions driven by a fast-paced business environment overtake sound investment principals.

Volatility has returned to risk asset markets and has investors asking: “Is this time different or is something else afoot”? In this dedicated Global Family Office investor letter, we cover the volatility and the importance of multi-asset portfolios; the power of diversification to offset ever-present market drivers; and evaluating risk capacity and risk preferences in the volatile market environment.

Market volatility in late 2018 has investors wondering if 2019 will bring global recession and investment losses. Chief Investment Strategist Jim McDonald answers tough questions about the global economy and how markets should react. Chief Economist Carl R. Tannenbaum also shares his views on the nature of recessions.

One element of successful investing is assessing how investor expectations may change over time. We began warning in mid-2018 of a growth slowdown in 2019, which came to a head in the fourth quarter when growth concerns led to a significant reduction in risk appetite and valuations. Souring investor expectations set the stage for positive surprises over the next year, which we think improves the outlook for risk taking.

In response to the proliferation of new private credit strategies and managers, a new set of benchmarks was developed to help limited partners assess the performance of new and existing fund managers (general partners or GPs). By focusing on the underlying risks assumed by a credit manager, the subordinated capital and broad credit opportunities benchmarks will assist limited partners in better evaluating risk-adjusted performance and identifying the most talented managers.

Private investments, particularly private equity and venture capital have provided the strongest relative returns for decades. For families with multigenerational wealth, they may be particularly well positioned to consider allocating 40% or more of their assets to private investments. Assuming these families have the requisite long-term time horizon, patience, and ability to act quickly, they stand to benefit not only from the potential for higher returns but also from the tax-advantaged nature of private investments. Life could get better after 40%.