Millennials have surpassed the Baby Boomers as the nation’s largest demographic segment. And with more than $30 trillion passing to them through inheritance over the next 30 years, Millennial investors are determined to make an impact and use their wealth to reshape not just markets, but the world.
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Because of social and cultural changes that have increased women’s control of wealth, this paper seeks to help families navigate this newer development—where the female partner’s inherited wealth significantly exceeds that which her spouse is likely to generate through his own inheritance or work. It begins with McKayla’s story and the challenges she and her boyfriend faced in their fiscally unequal partnership.
The number and scope of women-owned businesses have risen at an unprecedented rate. This historic expansion is due to the efforts of courageous women who have been willing to take the leap and become entrepreneurs. Featuring eight women’s entrepreneurial and diverse journeys, five prevailing themes emerge from their stories and the challenges they surmounted on their way to becoming—and remaining—successful business owners.
The world has changed since COVID-19, and the most successful companies will use this time to review their long-term strategy, competitive advantages, and organizational agility. This playbook lists cost optimization strategies and actions to increase productivity, and poses key questions that executives and board members should be evaluating to ensure they are better prepared for the next crisis.
With the ever-evolving nature of international tax, the non-U.S. resident or non-U.S. citizen with activities in the United States (referred to as “inbound” activities) and their U.S. advisors should become aware of fundamental, international tax principles to avoid the unintended application of U.S. tax. This guide serves as a resource to help navigate the dynamic tax landscape.
Change is in the wind. After a challenging 2015, the investment landscape for 2016 will be defined by a new course for monetary policy and political leadership, a new primary catalyst for stocks and an altered roadmap for credit markets, and for energy. Looking ahead at these asset classes—U.S. equities, international equities, fixed income, commodities, hedged strategies, and private markets—can provide a good sense of the investment outlook over the next twelve months.
Volatility in global equities subsided in the Fourth Quarter of 2015; however, 2016 will likely see multiple spikes due to the follow-through from low oil prices and concerns over China. Other current and fluctuating conditions of global capital markets add to the volatility. Amidst the turmoil, growth should stabilize in 2016 with the impact of China deceleration concerns likely to abate, Japan and Europe being on more stable footing for growth, and the CapEx revival in Europe.
For most financial assets 2015 was a challenging environment, with equities seeing negative or muted performance and fixed income facing its worst year since 2013 as yields slowly moved higher in anticipation of the Fed rate hike in December. Some of the macro themes of 2015 (a strong dollar and monetary tightening in the U.S.) will carry forward into 2016, but some will change and new themes will develop in the global economy. The outlook provides significant investment opportunities while recognizing the current risks and volatility of the market environment.
Important insights lie in the trends hidden under asset class classification of the hedge fund industry, which is expected to grow 25% annually in the next five years from $0.5 to $1.4 trillion dollars. To spot the trends, the asset categories should be useful for family offices to gain meaningful insights of major allocation shifts. A good place to start is to apply the widely recognized industry categories—Equity Hedge, Event Driven, Macro, and Relative Value—to the classification methodology.
Global equity markets rebounded sharply in October 2015 after the third quarter sell-off due to accommodative monetary policies and some better economic and earnings news. The gains faded late in the quarter on further weak data from China, weak exports, and more stress in the energy and commodity sectors due to oversupply mostly extracted by new technologies. As the world economies work through various transitions and uncertainty, investors are understandably anxious about the outlook for financial markets.