The Mutual Funds Channel

Brazilian Markets Tumble as Political Turmoil Returns

Brazil’s stocks and currency took a beating as President Temer was implicated in a corruption scandal, endangering the government’s reform agenda and fragile economic recovery.

The Best Fund Managers – As Voted by their Peers

Today’s indexing mania is driving the marketing people at the best active fund complexes completely crazy, but the top portfolio managers – that is, the people who really, truly enjoy investing – are seeing a lot of new opportunities.

Are You Oblivious to Fee Compression?

You are my friends and clients. I have great respect for the work you do and appreciate the value you add to the lives of your clients. That’s why it’s painful for me to see so many of you headed for trouble by denying the obvious trend in fee compression.

Why the Future is Bright for AUM-Based Advisors

Over the past several months, I have been reading Dan Solin’s thought pieces in Advisor Perspectives[1] and believe his gloomy outlook for the planning profession, and, more specifically, for advisors who are compensated via AUM-based fees, is misguided.

The Benefits of Active Municipal Bond Management

Robert DiMella is an executive managing director and co-head of MacKay Municipal Managers team, overseeing approximately $20 billion in municipal bond assets. In this interview, he discusses the opportunities for muni bond investors and the outlook for the coming year.

The Great Reset: How Should We Then Invest?

This letter will cover the philosophical underpinnings of my thinking. I’ll also introduce some investment tools (which I will give you access to through a link later on in the letter) that express that philosophy, but you could also design a different answer that fits your own (or your client’s) portfolio construction.

Dan Solin's Investing Secrets: Hot Mutual Funds

The 5 Costliest Financial Regulations of the Past 20 Years: A Timeline

Last year, the Federal Register—the U.S. government’s depository of rules and regulations—hit an all-time high of 81,640 pages. Among the industries that bear the greatest regulatory oversight is financials, which has seen a disproportionate amount of scrutiny in recent years, especially following the 9/11 attacks and subprime mortgage crisis.

Why Liquid Alternatives Now

K2 Advisors’ Founding Managing Director David Saunders is speaking at the prestigious SALT conference this month in Las Vegas, where he’ll discuss the liquid alternatives landscape and why he thinks now’s the time for investors to consider this asset class.

NewsLetter - May 2017

Harold Evensky's newsletter to his readers.

Stronger Global Growth and Inflation Set the Stage for Bond Market Volatility

In this Q&A, Kathleen Gaffney and Henry Peabody share their outlooks for the bond market and the impact of stronger global growth, and how they seek to position the Multisector Income strategy.

South Korea Tacks Left With New President, But Stocks Have Other Drivers

Political pressure on the chaebol is poised to rise, but corporate governance efforts already underway and end-market demand have proven tailwinds that have so far trumped politics.

USAA’s Unique Strategy for the Advisor Market

Keith Sloane serves as head of third-party distribution and Steve Fry is director of analyst relations at USAA Investments. I spoke with them about their strategy for serving advisors and the 60 million families with connections to the U.S. military, which has been USAA’s traditional focus.

The Price Clients Pay for SRI/ESG Investing

Socially responsible investing (SRI) has captured nearly a quarter of U.S.-based assets. New evidence from one of the world’s largest sovereign wealth funds shows that those investors are sacrificing significant performance. Indeed, they are giving up more than 1% a year – effectively doubling the typical 1% AUM advisory fee.

Why Factor Tilts Are Not Smart "Smart Beta"

Our analysis of three first-generation smart beta strategies shows factor-replicated portfolios are ineffective substitutes for their smart beta counterparts, exhibiting poorer performance, high turnover, and low capacity.