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For many investors, the desire to own commodities stems from the asset class’s inflation-hedging or portfolio-diversifying characteristics. While the most common way to get commodity exposure is by investing in a portfolio of commodity futures, many investors believe that owning a portfolio of natural resource stocks is an easier solution. Ho...

While implementing diversity, equity, and inclusion (DEI) has benefits in all walks of life, the investment marketplace is a highly impactful arena for driving DEI outcomes. After the first part of this series on DEI initiatives leading to better performance, a case is made for how pursuing the DEI effects is both a compelling and necessary strateg...

Research has convincingly shown that having diversity of opinions and backgrounds is positively correlated with better decision-making and long-term results. In this two-part series, a deep dive looks at what it means to incorporate diversity, equity, and inclusion (DEI) into your investment program. First, we lay out why DEI initiatives are rapidl...

The Biden administration has unveiled a new $2 trillion infrastructure and economic recovery plan, the American Jobs Plan, which is designed to simultaneously revitalize the country’s infrastructure and combat climate change. The Plan will also give municipal investors an opportunity to focus on environmental or “green” proje...

Investing evokes emotion, and even sophisticated investors should arm themselves with a long-term perspective and a disciplined approach. Abandoning a planned investment strategy can be costly, and research has shown that some of the most significant derailers are behavioral: the failure to rebalance, the allure of market-timing, and the temptation...

How should an investor allocate across active and passive investments? It’s a challenging decision with numerous components, and for many investors, indexing has become a valuable starting point that leads to choosing to index their entire portfolio. But our analysis shows that for those who are comfortable with the characteristics of active ...

A number of seismic shifts occurring around the world are likely to lead to different outcomes for investors in the decade ahead than those experienced by investors in the decade past. For investors, the important question becomes: “Am I positioned to take advantage of the changes happening in the world around me? Or is my portfolio going to be dis...

An increasing number of private clients are contemplating scaling back or exiting their fossil fuel-concentrated holdings as governments around the world fortify plans to reduce greenhouse gas emissions amid heightened awareness around the negative effects of carbon discharges on global warming. Even as many investors have committed to the movement...

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 be...

For the investors who like the tax benefits of Section 1031 (aka “Like-Kind”) Exchanges, they should consider a new option for sheltering real estate capital gains: Qualified Opportunity Zone Funds (QOZF). These funds have arisen as a result of the Tax Cuts and Jobs Act of 2017, which designated Qualified Opportunity Zone...

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. The QOF has stirred substantial investor excitement, but the lack of guidance before the issuance of the Proposed Regulations has frustrated the investment bankers ...