Russell Investments

Today, the backdrop for real assets has reset. Growth is returning, but in different parts of the market than many investors remember. While in the post-pandemic period performance was defined by scale, now it is the result of adaptability and having access to a broad array of organization sizes and business plans.

Global equity markets continued their strong summer run this week, supported by what has been an exceptionally strong second-quarter earnings season.

Fixed income markets continue to adjust to an evolving policy backdrop following last week’s Federal Reserve meeting.

Most conversations about artificial intelligence in wealth management begin with efficiency. The larger opportunity is using AI to build a different kind of advisory business: one that provides “growth alpha”. Harnessed smartly, AI has the potential to create capacity for the activities that actually drive organic growth.

Healthcare systems across the country are facing a difficult reality. Costs are rising faster than revenues, balance sheets are under pressure, the pacing of private market allocations are harder to manage, and liquidity has become an important topic for many organizations.

Healthcare systems across the country are facing a difficult reality. Costs are rising faster than revenues, balance sheets are under pressure, the pacing of private market allocations are harder to manage, and liquidity has become an important topic for many organizations.

Historically, many in the pension industry viewed funding above the "plan termination level" as having little incremental value. Once a plan reached “plan termination level”, thought of as roughly 110% funding, conventional wisdom suggested additional surplus had little economic value because it is effectively "trapped capital."

For much of the last decade, investing felt relatively one dimensional. Falling inflation, near zero interest rates and abundant liquidity rewarded long duration growth assets, compressed dispersion and made passive exposure difficult to challenge.

Fixed income transition costs are increasingly driven by what happens in credit markets. As credit trading becomes more efficient, the cost of transitioning fixed income portfolios is coming down, and how those transitions are executed is changing too.

The dominant theme this week was a tug of war between improving macroeconomic conditions and weakness in parts of the technology sector.

Recent economic data continues to point to a resilient U.S. economy. The unemployment rate held steady at 4.3% in May, while payrolls increased by 172,000 jobs. Hiring remained strongest in leisure and hospitality, though there were also encouraging signs from more cyclical areas of the economy.

For many registered investment advisors (RIAs), success has traditionally been measured in assets under management (AUM). As the industry evolves and consolidation accelerates, a broader question is emerging: are you building a practice or an enterprise?

Trade policy returned to the spotlight this week as the United States announced new tariffs on 60 countries, with rates of either 10% or 12.5% depending on the trading partner.

The IPO market may be entering one of its largest cycles in years, but the next wave may be defined less by breadth than by scale. Instead of hundreds of companies listing, a smaller group of AI and strategic infrastructure leaders could reset the market on their own.

Equities extend gains as earnings and semiconductors lead markets higher. Consumer confidence remains subdued despite economic resilience. Inflation is easing gradually but remains above the Fed’s targey.

The next IPO wave may create a different kind of portfolio challenge for institutions already holding private stakes in companies like SpaceX and OpenAI.

Global equity markets moved modestly higher this week as first-quarter earnings season continued to deliver strong results.

Institutional investors have spent years hearing about the promise of artificial intelligence. That phase is giving way to a more practical question: not whether AI can create more scale, but whether that scale can be governed, validated, and translated into better fiduciary decisions. For OCIO providers, AI without discipline is not an advantage.

U.S. inflation and rates remain elevated. Credit markets continue to show resilience. Opportunities are emerging across securitized and high yield assets

Global equity markets entered 2025 with a familiar narrative. U.S. leadership remained firm, supported by strong earnings, AI-driven optimism, and a market structure increasingly dominated by a narrow group of large-cap companies. For many investors, the path forward seemed clear: stay anchored to what worked.

Last week’s data was a good reminder that we are likely in a “resilient but uncertain” phase of the cycle.

For much of 2025, the U.S. dollar looked vulnerable: expensive, less supported by the exceptionalism narrative and heading toward a weaker regime. Then the war in the Middle East changed the picture. Energy prices rose, risk sentiment shifted and the dollar reclaimed its safe-haven role.

The Iran conflict has turned energy markets into a moving target, with oil prices adjusting as expectations around Strait of Hormuz supply risk shift.

Back-and-forth developments over the weekend around the Strait of Hormuz have added near-term volatility to energy markets. That uncertainty is feeding into oil prices and reinforcing questions about how persistent energy-driven inflation pressures could become, particularly if disruption risks continue to ebb and flow.

For a long time institutions treated tax-aware investing like a retail conversation; helpful for individuals, interesting for private wealth, but not front and center for institutions.

The S&P 500 reached another all-time high this week, supported by easing concerns around geopolitical risk.

As transition activity increases, what was once seen as a step between portfolios is becoming part of the outcome itself. Execution is now more closely tied to how portfolios are reshaped, particularly as restructures grow larger, more frequent, and more complex.

Every March people around the country start talking about their brackets. Most are referring to their basketball tournament bracket, hoping to predict the winners and maybe earn some office bragging rights.

The conflict in the Middle East remained a key driver of market sentiment this week, with rapidly shifting headlines contributing to heightened volatility.

Geopolitical volatility is not only increasing investor demand for infrastructure assets; it is urgently reshaping where and how capital is deployed. As energy security, supply chain resilience, and digital sovereignty rise up policy agendas, infrastructure investments that expand capacity and relieve bottlenecks are becoming critical.

Geopolitical headlines rarely arrive quietly. The recent escalation in the Middle East is a reminder of how quickly tensions can feel destabilizing.

Outsourced chief investment officer (OCIO) relationships have evolved dramatically. What once teed up primarily as a solution for smaller institutions seeking a roadmap to improving their governance, strategy and execution is now being adopted by much larger asset owners.

Market leadership shifted modestly this week, with the performance gap between small cap and large cap stocks narrowing.

Corporate pension sponsors don’t enjoy unwelcome surprises, particularly those that create financial strain. Many experienced significant financial stress following the Global Financial Crisis and the prolonged decline in interest rates that followed.

The ongoing conflict involving Iran and the disruption to energy markets has moved beyond headline risk and is now influencing expectations for growth, inflation and policy. As of March 9, oil prices briefly breached the $100 per barrel threshold — a development that shifts the macro conversation compared to last week.

Energy markets drove this week’s market volatility, with the conflict in Iran triggering a sharp rise in oil and natural gas prices. Through Thursday’s close, West Texas Intermediate crude oil was up roughly 17% from last Friday, pushing prices close to $80 per barrel.

February ended with a sharp escalation in conflict involving Iran, putting geopolitical risk back on investors’ radar and unsettling energy and emerging markets. But for most of the month, performance was driven largely by continued rotation tied to AI disruption and shifting earnings expectations.

Markets are responding primarily to uncertainty, with oil prices rising and equities volatile. The economic impact will depend largely on energy supply disruption, particularly whether oil prices remain contained or move sharply higher.

The U.S. is on the back end of fourth-quarter earnings season, and the overall tone from corporate management teams has been constructive. For the S&P 500 Index, earnings growth tracked close to 15% year-over-year, marking a fifth consecutive quarter of double-digit growth.

Managers are strategically maintaining AI exposure toward memory and semiconductor supply chains, and rotating toward enterprise adopters while trimming crowded hyperscalers.

For today’s RIAs, the tension is real. Many clients seek portfolios tailored to their individual goals and values, while advisory firms also aim to deliver that level of service efficiently and at scale.

In a 6-3 decision on Friday, the U.S. Supreme Court struck down most of the tariffs implemented by the administration last year. Markets initially showed little reaction to the announcement, with U.S. equities rising by 0.3% while yields on the 10-year Treasury inched up by 2 basis points.

Diversification seeks to help manage risk, smooth portfolio outcomes, and improve the likelihood that clients stay invested and on track toward their long-term goals.

Global equity markets posted modest gains to start the year, driven by selective strength in technology and cyclical areas as leadership rotated. Beneath the surface, performance diverged across companies, sectors, and regions. While macro uncertainty continues to unsettle markets, outcomes are increasingly shaped by company fundamentals.

Monetary policy stayed front and center this week as major central banks kept rates unchanged. What stood out was not the decisions themselves, but how economic momentum is diverging across regions.

Client demand for tax planning is high, yet many advisors may still fall short of meeting expectations. Direct indexing can offer tax benefits such as the potential for tax-loss harvesting but remains underutilized across the advisor community.

At its January meeting, the U.S. Federal Reserve (Fed) voted to pause its rate-cutting cycle, a move that aligns with recent signs of stabilizing labor markets and easing inflation pressures.

It was a volatile week in financial markets, largely driven by geopolitical developments. Last weekend, the U.S. administration proposed new tariffs on several European countries linked to tensions around Greenland.

Investors were thrown another tariff curveball, with the U.S. administration declaring that unless a deal for the U.S. to acquire Greenland can be reached, a 10% tariff will be imposed on eight European countries (Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland) effective Feb. 1.

U.S. fourth-quarter earnings season began with major banks reporting results that were generally stronger than expected. Most large banks beat earnings forecasts, with many also exceeding revenue expectations, reinforcing our view that the U.S. economy remains in a healthy state.

The U.S. and global economy remain on solid footing. We don’t believe recent geopolitical developments pose a systemic risk to markets at this time

It’s only been a few days since the start of 2026, but global equity markets are already reaching new all-time highs. Major benchmarks—including the Dow Jones Industrial Average in the U.S., Canada’s S&P/TSX Composite Index, and Japan’s TOPIX—posted strong gains this week.

Global equities closed 2025 with solid gains, supported by strong headline returns from the world’s largest firms, along with a surprising combination of smaller companies, many of which handily outperformed the top ten in the MSCI World Index.

Last week delivered welcome news on inflation in the United States. The November report showed headline inflation slowing to 2.7% year-over-year and core inflation easing to 2.6%—both below consensus expectations of 3.1% and 3%, respectively.

The global race to build AI infrastructure has accelerated sharply. Estimated capital expenditures now total more than $5 trillion, equivalent to the annual GDP of Germany.

Last Wednesday, the U.S. Federal Reserve (Fed) delivered a widely anticipated 25-basis-point rate cut at its final meeting of the year. In the press conference that followed, Chair Jerome Powell emphasized that monetary policy is now much closer to neutral and that the central bank is likely nearing the end of its rate-cutting cycle.

Around this time, most mutual fund and exchange-traded fund (ETF) providers release estimates of their upcoming distributions. We track and aggregate these early numbers to help you better prepare for what to expect.

Many U.S. companies now find their defined benefit (DB) plan in surplus and are exploring practical ways to use that excess funding. While emerging legislation may one day allow transfer from DB to defined contribution (DC) plans, some sponsors are already taking creative action.

This week’s data presented a mixed picture of the U.S. economy as investors look ahead to the Federal Reserve (Fed) meeting next week.

Global equities closed November mixed, as investors began favoring proven earnings power over speculative growth. The MSCI World Index ended roughly flat for the month, with value, small-cap, and dividend-paying stocks outperforming large-cap growth names. Healthcare significantly outpaced information technology by over 12%.

High-quality stocks have underperformed sharply across markets in 2025. For instance, in U.S. small caps, companies with negative earnings have outperformed profitable ones by about 20% since Liberation Day, while the Russell 2000’s rally has favored high-volatility, unprofitable names.

Interest rates are undergoing one of the steepest reversals in half a century. In 2020, governments could borrow for 30 years at just over 1%. Fast forward to 2025 and U.S. 30-year yields have risen above 5% for the first time since 2007.

Markets don’t sleep over the holidays, but they do slow down. Historical trading patterns show consistent liquidity shifts from late November through early January.

The latest U.S. economic data continues to paint a mixed picture. Private-sector employment from payroll processor ADP showed a return to modest job growth in October following a brief contraction.

Amid headline-grabbing AI funding rounds, managers are focusing on specialist infrastructure and supply-chain bottleneck companies with clear order-book visibility and strong pricing power. These include semiconductors and components.

Last week’s main story for markets was the meeting between U.S. President Donald Trump and Chinese President Xi Jinping. Following the talks, both sides announced a modest set of agreements aimed at improving trade relations.

For many investors, the fear of missing out on market gains is usually second to the pain that comes from taking a loss in their portfolios. This is why many struggle to stay invested during rocky markets.

Gold has been top of mind for many investors this week, with prices falling significantly at the start of the week. Despite a strong run in 2025, traditional valuation models suggest gold prices may have become somewhat stretched, creating some fragility in the asset class.

We believe an OCIO partnership is the stronger choice. With broad access to top-tier managers, scale advantages, deep operational infrastructure and critical resources to oversee risk and capital deployment, OCIOs can often take advantages of opportunities that single-strategy boutiques often cannot.

As funded status rises, the idea of plan hibernation may become more attractive, enabling strategic use of pension surplus.

On this week’s edition of Market Week in Review, Global Chief Investment Strategist Paul Eitelman assessed the health of the U.S. economy amid the ongoing government shutdown.

Overfunded pension plans don't have to die—they can live on in a 401(k) plan.

The government shutdown may spark some short-term volatility, but investors aren’t likely to bear the brunt of a red October.

When it comes to managing risk, OCIO providers can’t afford to overlook history.

On this week’s edition of Market Week in Review, Senior Investment Strategist and Head of Canadian Strategy, BeiChen Lin, assessed the health of the U.S. economy. He also explained why the Swiss National Bank held the line on monetary policy and discussed the potential market impacts of a U.S. government shutdown.

On Sept. 9, Russell Investments hosted a webinar examining the rising demand for overlay solutions, how overlay strategies are evolving and how institutional investors are using these tools today.

Senior Investment Strategist and Head of Canadian Strategy, BeiChen Lin, unpacked the latest rate decisions from major central banks. He also assessed the health of the U.S. housing market and potential opportunities in listed real estate.

The U.S. Federal Reserve (Fed) cut interest rates by 0.25% today in a decision widely expected by investors. More notably, the central bank’s forecasts reveal a committee starkly divided on the path forward for rates.

In recent years, pension funded status has markedly improved, with average funded ratios surpassing 100%.

On this week’s edition of Market Week in Review, Pierre Dongo-Soria, principal investment strategist for EMEA, unpacked what the latest economic data from the United States could mean for interest rate cuts.

On this week’s edition of Market Week in Review, Global Chief Investment Strategist Paul Eitelman discussed new records for the U.S. stock market as well as the resilience of the American economy. He also covered bond-market volatility in Japan, France and the UK.

The U.S. stock market continues to trade near all-time highs, with performance again concentrated in a handful of the largest, predominantly tech-oriented companies in the S&P 500 Index. Meanwhile, active managers are continuing to underperform.

On this week’s edition of Market Week in Review, Senior Investment Strategist and Head of Canadian Strategy, BeiChen Lin, explained key factors fueling the strong performance in North American stock markets. He also assessed the latest U.S. Federal Reserve (Fed) developments and shared upcoming watchpoints for the U.S. and Canadian labor markets.

A full-scale implementation partner does the behind-the-scenes—but critically necessary—work of managing portfolios according to the investment objectives, risk tolerance and preferences set by an investment team. In doing so, they free up time and energy for the investment staff to focus on decision-making.

On the latest edition of Market Week in Review, Global Chief Investment Strategist Paul Eitelman recapped the stock market’s latest record-setting run. He also dug into the health of the global economy and the latest inflation numbers from the United States.

The U.S. economy is slowing down but don't expect a hard landing.

In the latest edition of Market Week in Review, Senior Investment Strategist and Head of Canadian Strategy, BeiChen Lin, unpacks the European Central Bank’s (ECB) latest policy decision, provides an update on U.S. trade negotiations ahead of the August 1 deadline, and previews next week’s interest rate decisions from the Federal Reserve and Bank of Canada (BoC).

On this week’s edition of Market Week in Review, Global Chief Investment Strategist Paul Eitelman discussed key drivers behind the stock market rally.

The valuation of small-cap stocks relative to large caps remains historically attractive, and small-cap recoveries in the past have resulted in meaningful periods of outperformance.

On the latest edition of Market Week in Review, Global Chief Investment Strategist Paul Eitelman explored key drivers behind the strong performance in markets. He also provided an update on a proposed U.S. tax measure.

It’s often said there are only two certainties in life: death and taxes. However, the tax landscape may become somewhat murkier, as the recently passed U.S. House budget bill may potentially lead to some non-U.S. investors paying more taxes than previously anticipated.

The newest generation of college graduates will switch jobs more than a dozen times over the course of their careers. They will juggle side gigs, launch businesses, and step in and out of traditional roles.

When navigating the unknown, an experienced guide can ensure you don’t veer off the path to your chosen destination, can prevent you from stumbling over hazards, and ensure you have the tools you need to finish the journey safely and soundly.

With the House passing of The Big Beautiful Bill, the challenges facing chief financial officers and treasurers across health-care systems are likely to grow. The proposed cuts to reimbursements will have varying impacts across organizations depending on their payer mix.

Here’s the blunt truth: Many great investment strategies fail because of poor implementation. Robust capabilities in trading, transition management, overlays and currencies are critical to executing a strategy.

America’s fiscal woes are nothing to sneeze at, but they’re also nothing new. Which is why we expect markets to largely shrug off the latest credit-rating cut.

Best-in-class OCIO providers understand the importance of a deep relationship and will invest considerable time cultivating one.

When volatility ripped through markets last month, many investors scrambled to respond. Some wanted to quickly adjust specific security exposures. Others wanted to flee to cash or build in protection against additional downside moves. And some rushed to buy the dip.

China and the U.S. conducted their first formal trade talks of 2025 over the weekend. And on Monday, May 12, they announced the outcome of their negotiations.

When navigating the unknown, an experienced guide can ensure you don’t veer off the path to your chosen destination, can prevent you from stumbling across hazards, and ensure you have the tools you need to finish the journey safely and soundly.

After entering the year with a cautious outlook, managers have become more defensively postured as the U.S. tariff policy has increased uncertainty.

The markets today move at breakneck speed. In fact, if you’ve been watching your 401(k) the past month, you might have gotten whiplash.

Even in normal times, managing an investment program is a challenging job. But when you add on tariffs and trade wars, it's bound to lead to some sleepless nights. Learn how an OCIO firm can provide relief.

The Fed’s in a bind. Policy uncertainty is high. And tariffs are likely to hit the U.S. economy with a “stagflation-lite” impulse in coming quarters—weaker growth and higher prices.

How our open platform of best-of-breed managers allows us to distill complexity in the face of market turbulence by tapping into their collective intelligence.

Eitelman began by assessing the health of the U.S. economy through hard and soft data. He explained that hard data refers to measures of actual spending and economic activity, while soft data refers to how companies and consumers respond to surveys.

Investing in stocks so far in 2025 has not been for the faint of heart. Some market indices have undergone wild swings, flirting with bear-market territory

Talk of a recession is everywhere. The case is simple: Liberation Day delivered the biggest increase in tariffs in a century. Consumer prices will rise. Purchasing power will decline. Recession…right?

After several weeks of steep selloffs, the major averages roared back on Wednesday as the Trump administration announced a 90-day pause on its reciprocal tariffs.

An enduring image from 2024 will be the capture of the SpaceX booster rocket by the Mechazilla robot arms on its return to Earth.

As investors are uncomfortably aware of, global equity markets have been in freefall since U.S. President Donald Trump’s announcement of “reciprocal tariffs” on April 2.

On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed the details of the Trump administration’s tariff plan and the market’s reaction.

U.S. stocks underperformed in the first quarter of 2025, hit by a double whammy from intensifying policy uncertainty and a U-turn in select mega cap stocks.

On the latest edition of Market Week in Review, Senior Investment Strategist and Head of Canadian Strategy, BeiChen Lin, discussed the latest tariff developments. He also revealed key watchpoints for upcoming U.S. and Canadian employment reports and finished with a preview of U.S. first-quarter earnings season.

We have certainly seen an uptick in this sentiment accompanying the increase in market volatility since the start of the year.

On the latest edition of Market Week in Review, Director and Global Head of Solutions Strategy, Van Luu, discussed the latest rate decisions from key central banks. He also talked about fiscal reform in Germany and reviewed recent U.S. market performance.

he central bank made a technical move on the balance sheet, reducing the pace of permitted runoff in its Treasury holdings from $25 to $5 billion per month.

On March 11, Russell Investments hosted a webinar examining the challenges and opportunities presented by alternative diversifiers, including strategies for incorporating these solutions into portfolios.

I recently celebrated another trip around the sun, which meant I couldn’t let the occasion pass without enjoying some birthday cake.

On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed recent developments in the trade war and the impact on markets. He also dug into the latest U.S. economic data and provided an update on investor sentiment.

Stocks rebounded on Wednesday as core inflation in the United States came in below consensus expectations and news of a possible 30-day truce in the Russia-Ukraine war emerged. Big tech stocks also recovered after flirting with bear-market territory earlier this week.

News headlines this week have been dominated by recession fears in the U.S., with the S&P 500 and the Magnificent 7 shedding value. Yet, amid this rising uncertainty, a positive story is emerging—the performance of European markets.

The Liberal Party of Canada has wrapped up its leadership race, with Mark Carney winning by an overwhelming margin.

Warmer weather means that many animals come out of hibernation. Unfortunately for investors, market bears have also awakened from their slumber.

Three months into 2025, the U.S. IPO (initial public offering) market remains in a rut. Why? And, perhaps just as importantly, is a rebound still possible?

For decades, the U.S. dollar’s dominance has rested on two pillars: America’s deep capital markets and its global security alliances. Today, both are under strain.

There’s a lesson for financial advisors in this story. If you demonstrate a genuine intention to engage and connect with your female clients, it will build relationships that could drive the growth of the business for years to come.

On the latest edition of Market Week in Review, Senior Investment Strategist and Head of Canadian Strategy, BeiChen Lin, discussed how markets are reacting to U.S. trade policy uncertainty.

Many independent firms and Registered Investment Advisors aspire to move upmarket, targeting wealthier clients who demand more sophisticated financial solutions.

We recently sat down with Justin Owens, our senior director and co-head of strategic asset allocation, to discuss the next phase of liability-driven investing (LDI) and the key trends driving this evolution. Below is a recap of our conversation.

Tax season can be stressful, but with the right approach, advisors can turn it into an opportunity.

For two years in a row now, the smallest endowments have significantly outperformed their much larger peers. This is causing some to question if the typical endowment model is still working.

At some point in time, the top brass that manage your organization’s investments will no longer be with the organization, whether that’s through retirement, a job change, or a change in personal circumstances. Then what?

On the latest edition of Market Week in Review, Senior Investment Strategist and Head of Canadian Strategy, BeiChen Lin, discussed what investors should consider in light of recent equity-market strength.

If the current slate of proposed U.S. tariffs is implemented, our model estimates a 60-to-80 bps increase in cost structures across most sectors of the global economy.

2025 is beginning in much the same manner as 2024, with investors focused on whether the Chinese government is going to implement new stimulus measures.

Managers are cognizant of potential risks to portfolios, identifying dominant Chinese component manufacturers, North American automotive supply chains, and smaller cap industrial cyclicals as market segments worth monitoring.

On the latest edition of Market Week in Review, Senior Director & Chief Investment Strategist for North America Paul Eitelman discussed the main themes from U.S. 4Q 2024 earnings season, and provided a U.S. trade policy update & recent announcements from global central banks.

The recent dominance of the “Magnificent 7” technology names may help fuel the common belief that a single stock portfolio is the best way to deliver extraordinary returns.

Managers see mixed opportunities in emerging markets and a broadening opportunity set for small caps across global markets.

The fourth quarter was particularly volatile in fixed income markets, with U.S. government bond yields surging on worries over the rising fiscal deficit and the potential for inflation to reaccelerate.

You’ve likely heard the saying “when the going gets tough, the tough get going.” A similar principle can apply to investing: “when the going gets tough, stay in the market.”

During a rocky fourth quarter, strength in the financials sector was a unifying theme across global markets.

High expected fixed income returns imply many non-profit investors could de-risk while still expecting to achieve their stated return objective.

In mid-2023, the estimated costs to roll S&P 500 futures on a quarterly cycle was roughly 0.40%, or 40 basis points (bps) annualized—a fairly justifiable expense for most investors considering the benefits of the instrument.

While every new year arrives with its own unique set of opportunities and challenges for institutional investors, we believe 2025 could offer more than the typical share.

There are a few things it makes sense to get a start on when a new year begins. One is tax-loss harvesting.

U.S. Treasury yields have increased notably since September, particularly at the long end of the curve, with the 10-year yield up over 100 basis points from its recent lows. We unpack the drivers behind this big move in rates and our outlook for bonds going forward.

Outsourced trading is a growing trend among asset managers, with recent headlines illustrating how firms are reassessing their approach to how trading fits in their broader strategic plans.

The calendar page has turned, and that means we have the opportunity to get 2025 off to a good start.

On the inaugural edition of Market Week in Review for 2025, Senior Director and Chief Investment Strategist for North America, Paul Eitelman, discussed Canadian Prime Minister Justin Trudeau’s resignation as well as the latest batch of U.S. and global economic data.

From start to finish, 2024 was a year of change, with a multitude of implications for investors.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin discussed U.S. equity-market strength as well as recent rate decisions from key central banks.

Every year, most investors face a near-certain reality: taxes on their investment portfolio.

An enduring image from 2024 will be the capture of the SpaceX booster rocket by the Mechazilla robot arms on its return to Earth. This achievement served as a powerful metaphor for the year: the improbable not only became possible but redefined expectations.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin discussed the ouster of France’s prime minister and the potential market implications. He also provided an update on the health of the U.S. economy.

U.S. policies are set for a major reshaping as full Republican control takes hold in 2025.

Over the past few years, I’ve written numerous articles and given numerous presentations on Direct Indexing.

It’s been nearly two years since generative artificial intelligence (AI) took the world by storm, with the release of large language models like ChatGPT, Copilot, and Gemini dazzling humankind with their ability to interpret human requests and respond with the desired output.

As students across the country start to prepare for year-end exams, there are valuable lessons we can take from the classroom.

You won’t catch a fish unless your line is in the water, and you won’t benefit from the market’s potential move higher unless you are invested.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin reviewed the latest inflation numbers from Canada.

Generosity knows no season. But as the year-end holidays approach, many of your clients may be thinking about making a charitable donation or increasing their charitable giving.

U.S. policies are set for a major reshaping as full Republican control takes hold in 2025.

The last three months have seen bursts of excitement that the Chinese government was about to open the floodgates of stimulus, followed by disappointment as follow-on announcements have lacked detail on the actual scale of measures.

U.S. rate cuts of up to 200bps are anticipated by the end of 2025 but with significant further downside if recession risks materialize.

While history shows that U.S. markets tend to perform regardless of political leadership, the full impact of Trump’s policies could bring new challenges and opportunities for investors globally once he is in office.

With the Russell 2000 Index rallying in response to the U.S. election results—the benchmark index of small cap stocks soared by nearly 6% on Nov. 6 alone—small cap managers are re-evaluating their positioning ahead of President-elect Trump taking office in January.

On the latest edition of Market Week in Review, Chief Investment Strategist for North America, Paul Eitelman, discussed key watchpoints for investors in the wake of the U.S. elections. He also explained how the election results are impacting markets, and finished with an update on the latest monetary policy decisions from the U.S. Federal Reserve (Fed) and the Bank of England (BoE).

If we had to choose one indicator to watch over the next few months, it would be weekly initial jobless claims.

U.S. equity-market leadership reversed course during the third quarter of 2024, with small cap stocks outperforming their large cap counterparts and the value factor beating the growth factor.

In this article, we’ll remind you what listed real assets are, explain how they fit into an asset allocation, and help you understand why we believe now is an attractive time to invest in the asset class.

With Direct Indexing, you can help your clients prepare for life-changing transactions and minimize capital gains taxes by selectively harvesting losses to offset those gains, and implementing tax-efficient trading strategies.

Derivatives are complex financial instruments with associated risks, costs, and potential payoffs.

Director of Investment Strategies Shailesh Kshatriya unpacks the potential factors driving the sharp increase in U.S. Treasury yields. He also provided an update on Q3 earnings season and the Bank of Canada’s latest decision on rates.

The third quarter of 2024 saw a clear reversal in market leadership, with the Low Volatility and High Dividend factors performing the best while the Momentum and Growth factors performed the worst.

Financial markets moved higher yet again in the third quarter of 2024, and this time everyone joined in!

Today’s U.S. markets are highly concentrated, with nearly 70% of the economic profit in the S&P 500 Index generated by the top 10 companies.

On the latest edition of Market Week in Review, Chief Investment Strategist for North America, Paul Eitelman, discussed the details surrounding China’s latest stimulus announcements. He also reviewed early U.S. third-quarter earnings results as well as the latest U.S. macroeconomic data.

My father is 86 and the topic of financial markets and his investment accounts invariably comes up at every family gathering. Mainly, he talks about how my mother and he have lived from their retirement accounts since they both retired more than 25 years ago.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin assessed what the latest U.S. economic data suggests about the health of the nation’s economy. He also discussed the pullback in Chinese equities and the rise in volatility expectations for the U.S. stock market.

The $20 billion club is a group of pension plans near $20 billion and more in global pension liability. We have been reporting on this group since 2011.

For decades, a key component of many investors’ portfolios was a fixed income ladder. It was intended to provide ballast to the more volatile equity allocation and help reduce interest-rate risk.

With storm clouds forming above equities and fixed income markets, is now the right time for institutions to grab their private credit labeled umbrella?

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin examined the current state of the U.S. economy and outlined key investor watchpoints ahead of third-quarter earnings season.

For registered investment advisors and others who provide financial advice, autumn is the start of a season loaded with opportunity.

When looking at the increasingly complex structure of corporate lending in the present day, it can be easy to lose sight of the purpose of private credit and its lasting value to investors.

On the latest edition of Market Week in Review, Senior Director and Chief Investment Strategist for North America, Paul Eitelman, and Head of AIS Portfolio & Business Consulting, Sophie Antal-Gilbert, discussed the rally in Chinese equities.

While new tax proposals are grabbing election headlines, it’s important to remember that campaign rhetoric is not necessarily future policy.

As markets grapple with the implications of artificial intelligence, the AI frenzy has meant that the six largest companies accounted for more than half of the U.S. market’s return in 2023 and year-to-date (August 2024) they have accounted for nearly half again.

The latest data suggests the U.S. economy is headed toward a soft landing rather than a recession. With Federal Reserve (Fed) rate cuts underway, markets are backing this view.

Taxes may be the biggest fee your tax-sensitive clients are paying on their investment portfolios. And neither they nor you, their advisor, may be aware of just how big that fee is.

In 2021, the stock/bond correlation flipped to positive after remaining negative for a majority of the preceding 20 years.

We expect the Fed to cut rates by 25 basis points at each of its remaining meetings in 2024 and to sustain that pace into 2025. This trajectory would get the Fed down to our estimate of the normal or equilibrium rate of interest of 3%-3.25% this time next year.

Deal activity in private equity has slowed significantly from 2021 due to high interest rates and economic uncertainty.

The August consumer price index report showed that U.S. inflation slowed to 2.5%

As AI's usage becomes increasingly widespread around the globe, energy consumption is soaring, along with a demand for additional power.

Regardless of which administration takes power after an election, a balanced portfolio has made strong gains in the years immediately after.

If overlays haven’t been on your radar so far this year, it’s high time to start thinking about them.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin assessed the state of the economy, including the health of the services and manufacturing sectors, and the likelihood of a big rate cut at the upcoming Federal Reserve meeting.

The concept of portable alpha is over 40 years old. And while it has evolved through various forms over that time, it continues to be a valuable portfolio tool for institutional investors. Arguably, the most popular iteration right now is adding alpha expected from hedge funds on top of synthetic beta exposure.

On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley and ESG and Active Ownership Analyst Zoe Warganz discussed key takeaways from the U.S. Federal Reserve’s (Fed) annual economic symposium in Jackson Hole, Wyoming.

Will 2030 DC plans perform better at preparing U.S. workers for retirement?

Over nearly three decades, I’ve been dedicated to the sport of running. For the last five years, I chased the elusive goal of qualifying for the Boston Marathon, my ultimate aspiration. It wasn’t until I sought the expertise of a professional coach that I finally achieved this dream.

If interest rates decrease over the next 12 months, as the market expects, long duration bonds could potentially provide equity-like returns for investors.

Amid expectations of rate cuts from major central banks, managers are increasing their exposure to more cyclical and value-oriented names, including autos, transportation, and short-cycle industrials.

U.S. consumer-price gains eased to 2.9% in July—the lowest increase since 2021

Advisors are offering customized holistic wealth management to their clients and their families to help ensure an orderly transition of wealth

For plan sponsors, the trend toward de-risking often leads to a simplification of the equity manager lineup in the return-seeking portion of the portfolio.

When I was in high school, I really wanted a car. My loving parents took every situation as an opportunity to teach. They told me that if I wanted a car, I would have to earn it.

A negative market reaction was triggered by a sharp selloff in Japanese stocks into the close earlier [Monday], with the Topix and Nikkei indices suffering 12% declines – their worst day since 1987. The selloff cascaded through global markets with the EuroStoxx 600 trading down over 3% on Monday and S&P 500 down about 3%.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin and ESG and Active Ownership Analyst Zoe Warganz discussed key takeaways from recent central bank meetings. They also provided an update on how U.S. small cap companies are performing during second-quarter earnings season.

The members of the Bank of England’s Monetary Policy Committee (MPC) are probably not intimately familiar with Taylor Swift’s back catalogue. If they were, Swift’s hit “Cruel Summer” may have been ringing in their ears when cutting rates today for the first time since March 2020.

The Momentum factor picked up where it left off at the end of the first quarter, turning in another standout performance in the April-through-June timeframe and ending the second quarter as the factor most relevant to positive performance.

The small cap rally has primarily been a de-risking event. It's unclear at this point whether it’s just a blip or the beginning of a new trend in market leadership.

The momentum we've seen in U.S. equity markets over the past year continued in the second quarter of 2024. With large technology stocks leading the wave, the S&P 500 index has risen 23% in the 12 months ended June 30.

On the latest edition of Market Week in Review, Director of Investment Strategies, Shailesh Kshatriya, discussed the recent strength in U.S. small cap stocks and the likelihood of a September rate cut from the Fed. He also provided an update on the latest inflation numbers from Canada and the UK.

It's important to understand the true meaning behind the names of investment funds, especially when it comes to those labeled "tax-managed"

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin and Regional Director Chris Kalman discussed the highlights from June’s U.S. inflation report.

I have been looking forward to writing this blog for a long time. I joined Russell Investments on July 12, 2004 and now that it is my 20th anniversary, I feel it’s the right moment to share some of what I have learned along the way.

With so much uncertainty in the political landscape, investors may be nervous — and they may be reluctant to remain in the market. This is why an advisor's role as a behavioral coach is so important.

An extended period of calm means investors must be vigilant and not become complacent. However, it's not necessarily a harbinger of an impending volatility event.

As part of our annual tradition, we’ve reached out to Russell Investments’ associate base to come up with four recommended books for this year’s summer reading list. Below are our choices, which cover a wide variety of topics, including leadership development, diversity and inclusion and the artificial intelligence revolution.

On the latest edition of Market Week in Review, Senior Director and Chief Investment Strategist for North America, Paul Eitelman, and Regional Director for North America Advisor & Intermediary Solutions, Lam Guluka, discussed key market themes from the second quarter.

U.S. corporate pension plan sponsors are required to measure their plan liabilities for a few important purposes.

As an advisor, you know that no two clients are alike. Each has their own financial goals, risk tolerance and opinion on how they want to invest.

On the latest edition of Market Week in Review, Director and Senior Investment Strategist Alex Cousley discussed recently released economic data from China, including home prices and credit numbers. He also covered the Bank of England’s (BoE) recent rate decision and provided an update on U.S. retail spending during May.

Small cap performance has been a hot topic lately, with many pundits declaring the small cap premium on life support or dead altogether.

The Tax Cuts and Jobs Act of 2017 (TCJA) is expected to sunset at the end of next year and there is likely to be a lot of chatter about what the potential changes in tax laws could mean for U.S. taxpayers.

Partnering with firms that have the requisite scale and demonstrated access to top-tier investment opportunities is one way investors can potentially eliminate the J-curve in a private markets investment program.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin and Product Operations Analyst McKenna Painter discussed the latest U.S. inflation data and how it could impact Fed policy. They also assessed when the BofE could begin lowering borrowing costs and concluded with an update on economic growth in China.

Many investors and advisors take rebalancing for granted because it’s often done behind the scenes

You’ve probably heard the term “direct indexing.” It seems like everyone is talking about it. You’ve probably also read that sales of direct indexing products are booming. But what exactly is direct indexing?

On the latest edition of Market Week in Review, Chief Investment Strategist for North America, Paul Eitelman, and Equity Manager Research Analyst Michelle Batjargal discussed the results of first-quarter earnings season around the globe.

Three key reasons why investors should consider allocating capital to private credit for substantial and differentiated returns.

What exactly is a market bubble, and how can investors recognize one?

The consensus outlook among analysts today is that tech innovation will rewrite the global productivity index, with AI (artificial intelligence) and automation expected to bring a new wave of industry efficiencies.

The promise of independence is luring more and more advisors to the Registered Investment Advisor (RIA) channel. RIA headcount has grown rapidly over the past decade and by 2027, Cerulli estimates that RIAs will control nearly one-third of intermediary asset market share.

On the latest edition of Market Week in Review, Director of Investment Strategies, Shailesh Kshatriya, and ESG and Active Ownership Analyst Zoe Warganz discussed the U.S. inflation and retail sales reports from April, as well as the market’s reaction. They also chatted about the improving economic outlook in Europe.

In today's financial climate, marked by interest rate and geopolitical uncertainties, infrastructure investment offers financial and strategic opportunities. However, traditionally infrastructure portfolios have been divided into listed and unlisted segments, with investors choosing between one or the other.

Managers are increasingly focusing on sectors beyond tech that could benefit from the rise in AI in the short term. These include healthcare and consumer companies, which also have more attractive valuations.

Anticipation is one of those mental states that can result in either relief, or disappointment. We may anticipate the results of a test, for example, and feel relieved if the results are good, or disappointed if they are not.

The U.S. repurchase agreement, or “repo” market, provides more than $3 trillion in short-term funding each day. Most repo transactions are overnight and are collateralized by Treasuries.

ESG integration is a trend financial markets are familiar with, but that doesn’t mean all asset classes are at the same levels of progress. ESG means different things to different people, and its integration into equity investment does not represent the same journey experienced in fixed income.

As institutional investors, we most often represent risk as standard deviation or tracking error. But when we implement changes in our portfolios, the real-time risk happens much faster.

Do presidents and prime ministers make economies? Or do economies make presidents and prime ministers? 2024 is a year of significant elections, with more voters heading to the polls worldwide than ever before.

Life is full of surprises. If you don’t have a crystal ball, you can’t really predict what may come next in your life—or in the markets. That’s why we should always be prepared for any potential situation.

Over the last five years, financial markets grappled with two generational upheavals—the Covid pandemic and the subsequent inflation surge post the Russia-Ukraine conflict.

Recent media coverage about how best to construct and manage portfolios has many wondering whether institutional investors are facing a paradigm shift right now.

As non-profit investors set their investment and spending policies, it is important to consider their organizational circumstances during a market shock.

We’ve just come through the first quarter of 2024 – and what a quarter it was! Hard on the heels of a robust end to 2023, the S&P 500 Index rose 11% in the first quarter of this year. This is the first time since 2012 that it’s had back-to-back double-digit quarterly returns.

Markets started the year anticipating several U.S. Federal Reserve (Fed) rate cuts in 2024, but by the end of the first quarter, a continued string of stronger-than-anticipated economic data readings led to a significant dialing-down of expectations.

Private markets have been viewed by institutional investors as key to a well-diversified portfolio. Benefits of these strategies: long-term outperformance over public markets, with increasingly important diversification benefits as the universe of publicly traded stocks continues shrinking and performance becomes increasingly concentrated to a few mega-cap tech companies.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin and Sophie Antal-Gilbert, Head of AIS Portfolio & Business Consulting, discussed the U.S. first-quarter gross domestic product reading. They also reviewed the latest U.S. inflation data and provided an update on U.S. first-quarter earnings season.

Much like the NFL draft, portfolio managers undergo rigorous evaluations. Their track record, investment process, and stock selection process are considered. Additionally, qualitative assessments, including manager interviews and onsite visits, offer insights into their character and decision-making prowess.

Another strong quarter in markets led to another stellar performance for the Momentum and Growth factors.

It’s a frequent question asked by organizations looking for an outsourced investment solutions provider. Our answer may surprise you.

Investing in private markets has obvious upsides, including potential higher returns, access to a broader opportunity set, and greater diversification.

Just as a GPS navigator analyzes real-time data to recalibrate routes efficiently, active management interprets market conditions to steer portfolios towards investment goals.

Japan has had two big moments in the last month, with the Nikkei 225 equity index breaking above the highs set in 1989, and the Bank of Japan (BoJ) raising interest rates for the first time in 17 years.

Our investment leadership team convened twice on Sunday to discuss the conflict between Iran and Israel, its key watchpoints in the days ahead, and the pertinent risks onto markets, our investment portfolios, and our clients. The team broadly agreed that maintaining a slightly defensive posture across portfolio strategies remained appropriate.

Despite expectations for interest rate cuts by the Fed, yields have risen since the start of the year, with the government 10-year bond yield climbing nearly 70 bps this year through April 10. This is a sharp reversal from what occurred in Q4 2023 when the 10-year yield collapsed by 71 bps.

On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin and Product Operations Analyst McKenna Painter unpacked the latest U.S. inflation numbers. They also discussed recent rate decisions by the European Central Bank (ECB) and the Bank of Canada (BoC) as well as the economic and market outlook for China.

April 15 is undoubtedly one day that is not enthusiastically celebrated by most people. It is safe to say that the discomfort around Tax Day likely ranks right up there with your annual physical or renewing your driver’s license.

Private markets continue to become an even more prevalent component of investor portfolios, providing access to an expanded opportunity set and strong diversification beyond traditional stocks and bonds.

How might investors consider positioning their portfolios amid today's complex and uncertain economic landscape?

It can be hard work onboarding clients, so the last thing you want is to lose them. Yet many advisors DID lose clients in 2023. Here are some ideas to improve client retention in 2024.

When it comes to the private real estate sector, the mention of the U.S. commercial office sector scares many investors away. While the office sector may give some investors pause, it's also prudent to look at the bigger picture.

On Jan. 30, Senior Director and Head of ESG and Investment Management Kris Tomasovic Nelson moderated an online discussion exploring the findings of Russell Investments’ 2023 Manager ESG Survey. In its ninth year, the annual survey offers valuable insights into the evolving landscape of ESG practices within the investment management industry.

We believe optimism over a soft-landing scenario—where economic growth slows but a recession is avoided—may deliver more near-term market gains, as inflation declines and central banks look to start easing around mid-year.

In the ever-evolving investment landscape, one thing has persisted for decades: the debate about the superiority of active or passive strategies.

Planning on implementing a large portfolio change in the second quarter? You’ll want to pay attention to this calendar.

With interest rates at their highest levels in over a decade, now is a good time for most plan sponsors to de-risk their liabilities via a lump sum window.

In a move aimed at offering voters a pre-election giveaway, UK Chancellor Jeremy Hunt cut national insurance contributions by 2 percentage points in his spring budget. He had previously cut national insurance contributions by 2 percentage points in the autumn budget less than four months ago.

When the regional banking woes unfolded in March 2023, we argued that the challenges were not likely to be systemic. We continue to think that the challenges facing regional banks are likely contained, though near-term market volatility is always possible.

Learn how to engage and tailor approaches for women, addressing unique challenges and priorities in financial planning. Discover insights and resources to actively support female clients, seize opportunities, and shape the future of wealth management for women.

The average expected return on asset (EROA) assumption for the largest U.S.-listed pension plan sponsors increased to 6.70% in 2023—the first time a year-over-year increase has been observed in 19 years of records.

Not all investment returns are the same. Some are taxed at a higher rate than others. The Form 1099-DIV can help you analyze the Investment Tax Health of your clients. By looking at how much the investor received in different investment returns, you can calculate how much federal tax they will need to pay.

An investment program with dedicated but limited internal resources can extend its staff through a strategic partnership with an external investment solutions provider.

Careful data management and having a formal impact measurement framework in place are essential to preventing greenwashing and ensuring consistent impact delivery.

The Magnificent Seven stocks (Microsoft, Apple, Alphabet, Amazon, Nvidia, Meta, and Tesla) have been the largest driver of equity returns in recent years and were again the dominant contributors in 2023, accounting for more than half of the market increase.

Looking back, I believe the financial advisors who were most willing to adapt to changing times were generally more able to set themselves apart from the crowd and experienced a higher rate of success.

The consumer price index (CPI) for January showed that core inflation held steady at a rate of 3.9% last month, a small setback in a trend of moderating inflation in the U.S. Healing in global supply chains and a rebalancing of the U.S. labor market have helped to dramatically tame inflation over the past year.

China's economy has disappointed most expectations over the past year. China's need to rebalance from investment to consumption is coming when tensions with the U.S. are elevated. This could create continued volatility. We believe China does have the levers to alleviate some key challenges.

When it comes to taxes, it's always best to be prepared for any future changes that could either benefit or hurt your clients. This year's inflation-related adjustments to tax brackets and standard deductions could give some of your clients more flexibility to manage their capital gains.

Chinese equities are extremely cheap and priced for bad news. We believe this environment may present opportunities for active managers.

Investors experienced a shift in global risk sentiment during Q4, marked by lower inflation and the anticipation of an end to the rate hiking cycle.

In February 2023, the Securities and Exchange Commission adopted rule amendments to shorten the standard settlement cycle to T+1 for transactions in U.S. securities including equities, corporate bonds, unit investment trusts, and exchange-traded funds.

The Monetary Policy Committee (MPC) vote in favor of keeping the Bank of England (BoE) policy rate at 5.25%.

In Russell Investments’ factor portfolios, the Global Large Cap Growth, Momentum and Size factors outperformed the MSCI All-Country World Index during Q4, while the Global Large Cap Value and Low Volatility factors underperformed the index. The Global Lage Cap Quality factor was flat for the quarter.

Many advisors wait until the end of the year to harvest tax losses, but that may not be the best policy. Stock markets frequently go up in the last two months of the year so better harvesting opportunities may be available at other times.

A renewed sense of optimism emerged during the fourth quarter, sparking an increase in U.S. equity trading volumes and a rally in risk-on fixed income assets.

More institutional investors are exploring infrastructure for diversification, income and stable return potential as well as inflation protection. Investors are looking at both the traditional segments and newer digital sectors along with renewables.

The fourth quarter of 2023 was a more favorable environment for active managers in the UK, Europe, Emerging Markets, U.S. Small Cap and Listed Infrastructure, while being more challenging for U.S. Large Cap, Global, Global ex-U.S., Japan, Australia, Canada, Long/Short and Global Real Estate managers.

When markets are volatile, it's tempting to move into cash. But those high yields on short-term cash instruments aren't as attractive once taxes and inflation are factored in.

There will be a lot of firsts for the economic history books if this business cycle can survive a labor market slowdown, 525 basis points (bps) of rate hikes and an extremely inverted U.S. Treasury yield curve.

Financial advisors are gearing up for a successful year and preparing for client reviews. We offer four actionable ideas and practices to help advisors address some key concerns many investors are having about the year ahead.

Institutional investors may want to consider an allocation to Quality equities as well as a sufficient allocation to government bonds.

We don't expect tensions between China and Taiwan to intensify this year, due to China's improving relationship at the margin with the U.S. and China's likely focus on domestic growth.

Initiate the year with direct indexing, encompassing tax planning, personalized investing strategies, rejuvenating sidelined cash, and navigating concentrated stock positions or financial windfalls.

While elections can be newsworthy, we think that investors shouldn’t be too concerned about the impact on financial markets. Staying disciplined will help investors in the long run.

Tax-loss harvesting is an essential tax-management strategy that can benefit a broad range of taxable investors – even those who many not think they have to worry about investment taxes.

Interest rates are one of the most important factors affecting the economy and the outlook for stocks. Managers increasingly think interest rates in the U.S. have likely peaked and are repositioning equity portfolios for the new environment.

We see both advantages and disadvantages to IBM's retirement program changes. One advantage is that more capital will be freed up for other corporate initiatives, while one disadvantage is that without a 401(k) match, participants may save less for retirement.

To be considered a best-in-class outsource trading provider, one must excel in many areas.

From the banking crisis to the U.S. debt-ceiling saga, from inflation concerns to recession fears, from soaring bond yields to slowing consumer spending, 2023 had no shortage of issues for investors to worry about.

When stakeholders convened at COP28, the 28th Conference of the Parties, from Nov. 30 to Dec. 12, it was with an unwavering acknowledgment of the real threat posed by climate change.

Private assets and alternative investments are usually illiquid in nature but can help an investor meet their long-term objectives in a more efficient manner.

Although cash donations are appreciated, donating securities may be more impactful for both the charity and the donor.

There's more to an overlay program than just cash equitization and systematic rebalancing. The flexibility of the program allows for several other exposure management strategies.

Macroeconomic uncertainty remains elevated. We believe a recession in 2024 is more likely than not. Non-profit hospital systems have faced significant operational pressures, and may continue to experience challenges in the near-term.

Funds will begin paying out their 2023 distributions this month which could lead to a tax bill for your clients. While capital gains distributions will likely be lower this year than in recent years, interest income is expected to be higher.

It’s possible that a 2024 recession could be avoided, but we see recessions risks as remaining elevated in most developed markets. We believe there is limited upside for equities amid expensive valuations and recession concerns. Government bond valuations, however, look attractive in the U.S., UK, Canada, Germany and Australia.

The global economy is still overwhelmingly powered by fossil fuels, with more than 80% of primary energy sourced from coal, oil, and gas, as of 2021.

Our 2023 Manager ESG Survey shows that transparency around DEI data is increasing among investment managers. The results reveal that equity product managers in particular are more inclined to share DEI data compared to managers in other asset classes.

97% of corporate defined benefit (DB) plans can achieve full funding without a significant draw on corporate cash. This is an increase from the 86% noted in last year’s report.

The main point under contention this year will be the phase-out of fossil fuels and the limited progress achieved so far. As more businesses make net-zero commitments, there is mounting pressure for greater government support through policies and incentives.

There is broad agreement that economic damages will increase with warming, but there is substantial disagreement on the magnitude of these damages.

As I start thinking about Christmas this year, I decided I want to be on the nice list again, so I put together some useful year-end actions and ideas for financial advisors.

While the fall in inflation is welcome, the impact of higher interest rates on mortgage borrowers still has some way to play out. The reduction in inflation will help DB members that are drawing on their pension. Pension trustees should consider their investment strategy and support members with their retirement planning.

Taxes can have a significant and ongoing impact on an investment portfolio. Advisors can help their clients minimize that impact with a tax-smart approach. Advisors can prepare for capital gains season now, and potentially maximize their clients’ after-tax returns.

Portfolios with large allocations to alternatives can have many benefits. However, alternative allocations can deviate meaningfully from policy, particularly during periods of equity-market turbulence.

Fossil fuels, particularly oil, are difficult to replace due to their availability, affordability and energy density. Low-carbon alternatives, like solar energy, need large amounts of space to produce comparable amounts of energy to oil.

We believe that an OCIO provider should have the capability to handle any type of investment assignment. However, most OCIO providers do not have the ability to do this.

Starting in 2024, IBM will replace its 401(k) plan matching contributions with a new benefit earned within its overfunded DB plan, which has been frozen since 2008. This move essentially un-freezes the tech giant's DB plan.

The third quarter was a more favorable environment for active managers in U.S. Large and Small Caps, Japan, Australia, and Canada equities, while being more challenging for Global, Global ex-U.S., Emerging Markets, Europe, UK and Long/Short managers.

Global investing is easily accessible through the financial markets. Many investors prefer to stick to companies and industries they are familiar with.

Investors should be aware of potential real-time market exposure risks when implementing large changes to their portfolios. One market hour of misaligned portfolio exposure can have a significant impact on your portfolio’s performance outcome for the year.

The direction of interest rates was the biggest factor moving markets in the third quarter. Sentiment on technology stocks appeared to shift. Money market assets reach historic high, but returns lag stock market.

In Q3, the strongest performance among factors was seen in developed ex-U.S. large cap and small cap and U.S. small cap, where Value outperformed by 4.9%, 3.3% and 3.3%, respectively. The weakest performance among factors was in U.S. small cap, where the Size factor underperformed by -2.4%.

Our 2023 Manager ESG survey reveals that while more investors are implementing engagement and proxy voting strategies, there is still room for improvement.

A transition away from fossil fuels is likely required to avert a significant warming of the planet. Rising temperatures could lead to crop failures, storm intensification, ocean acidification and deoxygenation, and infrastructure damage, among several other risks.

Investment taxes can have a real impact on a portfolio. Investors should be aware of four key tax realities they currently face. Without a plan to manage these taxes, investors may find their ability to retire comfortably could be compromised.

Meeting or beating a trading benchmark doesn't equate to good portfolio performance. In order to measure the success of a transition, utilizing a T-Standard transition performance measurement methodology is critical.

Direct Indexing empowers RIAs to transform tax losses into valuable assets, helping clients offset capital gains on federal tax returns and minimize annual income tax liabilities.

Credit volumes witnessed some strong highs and lows in the third quarter. Notably, July—a month where trading volumes are generally steady—saw very inconsistent flows over the month. September, meanwhile, followed historical trends with an increase in primary market supply, reflecting higher volumes in the secondary.

The ideal rebalancing range varies by investor and depends on an investor’s risk tolerance and market views, among other factors. In a prolonged equity bull market, wider rebalancing ranges will result in higher returns, but also increase a portfolio’s risk.

Private credit is being sought—with the goals of income and capital preservation—to achieve real capital growth and drive portfolio returns among retail and institutional clients alike.

A transition away from fossil fuels is likely required to avert a significant warming of the planet. The primary risk to markets is the energy transition itself, which would require substantial capital expenditures.

U.S. equities have ruled the roost for the better part of the last decade, but another region may emerge as the leader if the business cycle changes.

Russell Investments’ 2023 Manager ESG Survey, now in its ninth year, continues to offer valuable insights into the evolving landscape of ESG practices within the investment management industry.

The Federal Reserve (the Fed) has made some relatively painless progress thus far in its inflation fight. Some other prominent economists have walked back their forecast for a near-term recession.

Some investors are considering making tactical tilts to their fixed income portfolios to take advantage of the current high-yield environment.

There is a growing movement among investors to align their portfolio to their values or belief systems. Advisors can use Direct Indexing products and Separately Managed Accounts to help their clients pursue faith- or values-based investing.

Most investors are aware of certain taxes on their investments, such as on dividends, interest and capital gains. But those are just the tip of the iceberg.

The U.S. Treasury yield curve is currently inverted, with yields on short-term bonds higher than yields on longer-term bonds. Some expect this to unwind with short-term bond yields falling faster than longer-term yields. Amid these expectations, those investors are wondering if they should consider reallocating to shorter-term bonds.

Thomas Jefferson University (TJU) developed a strategic resource allocation framework to rationalize and simplify the complex legacy portfolio structures it had inherited through mergers and acquisitions.

During Q4, we believe there is an elevated risk of market volatility when monthly U.S. inflation data is released, quarterly earnings season begins, and major central banks meet.

We believe a mild U.S. recession is more likely than not in 2024, although a soft-landing scenario cannot be ruled out. A recession is also likely in the UK and eurozone, but appears less likely in Australia.

Many advisors are finding their clients show little interest these days in how the markets are doing.

Private infrastructure offers unique investment characteristics and potential diversification benefits for portfolio construction.

Today, in a shock decision, the Bank of England (BoE) left its policy rate at 5.25% by the tightest possible majority vote of 5-4. All but one of 65 economists polled by Reuters had predicted that the BoE would raise the rate to 5.5%.

Financial advisors often face the challenge of transitioning a new client into their practice in a tax-efficient way.

Banks have reemerged as a potential pain point for the investment community, as rating agencies recently embarked on a downgrade cycle in the sector.

Given the uncertainty over a recession, there are other incremental steps that investors may want to consider instead. These include making adjustments to a portfolio’s market beta and credit exposure.

Soft consumer confidence and property-market woes are playing a large role in the slowdown of China’s economy.

For some organizations, a partial outsourcing of their investment program is preferable to total outsourcing. Despite this, some OCIO providers will still try very hard to sell companies on a full OCIO solution.

Diversifying a portfolio means spreading the investments across a variety of asset classes, industries and geographies.

Advisors can capitalize on the expected transfer of wealth between generations, the expected wave of retirements among older advisors, and referrals from other professionals.

Many advisors are now providing customized wealth management services to their clients and their families, often across multiple generations.

We are now a few years past the onset of the COVID pandemic, and we've had a chance to think about some of its changes in the wealth management business. Even if we wish certain things hadn't changed, we must acknowledge that they have – and adapt accordingly.

While money market assets have risen in recent years, returns have historically lagged behind a diversified portfolio.

Investors should be aware of potential real-time market exposure risks when implementing large changes to their portfolios.

Bank of England raises interest rates again as expected. Rate hike likely to hurt first-time homebuyers in London. UK gilt curve appears to be pricing in a "higher rates for longer" scenario.

Referrals from established clients are a good way to organically grow an advisory business.

Australia and Canada are experiencing a surge in population growth, while growth rates have slowed substantially in the UK due to post-Brexit frictions.

Equity and fixed income markets experienced heightened volatility amid the Q2 debt-ceiling saga, while currency and derivatives markets were mostly unaffected.

The sale of a business, property, or large stock position can generate a financial windfall that may trigger a large tax liability.

The Fed continued to signal a "meeting-by-meeting" data-dependent approach to monetary policy. While the June Summary of Economic Projections suggested that there might be one more hike after today's, we think it's also possible that today's hike may be the last one.

Higher yields for corporate bonds generally correspond to higher credit risk based on an issuer's credit rating.

Q2 2023 was a more favorable environment for Emerging Markets, Europe, Australia and Real Assets managers.

UK gilts rally after headline and core inflation numbers surprise to the downside.

An advisor’s greatest contribution to an investor’s bottom line is their guidance through volatile markets.

Over the past two years, higher inflation has led to a higher return hurdle for investors who have established real return objectives, making it harder for them to achieve their return objectives over the short term. But is this likely to be the case over the long term as well?

In what's quickly become one of my favorite annual traditions at Russell Investments, I survey our associate base for their summer reading recommendations every year around this time.

We believe that avoiding whole sectors or business models introduces portfolio risk and should be done only with careful consideration and a strategic, holistic plan.

The ARCS strategy is a currency management strategy that gives a diversified exposure to three factors: Carry, Value and Trend.

In 2022, the funded status of $20 billion club members reached its highest level since 2007 due to steep rises in discount rates.

Spring cleaning is essential to a cleaner home, just like rebalancing is essential to keeping an investor on track.

We believe that the creeping economic slowdown in the United States will probably persist for a few more months, with a recession possible over the next 12-18 months. The onset of the recession may be delayed until 2024.

A direct indexing solution can help make an investment portfolio as personalized as a home.

Aggressive monetary policy tightening in developed markets led to a drawdown in house prices in 2022, but not a meltdown.

In a hawkish move coming on the heels of data that showed a reacceleration in inflation, the Bank of England raised its key lending rate by 50 basis points at today’s policy meeting.

Today's U.S. equity market is highly concentrated, with seven stocks contributing to an astonishing 96% of the Russell 1000 Index's year-to-date return.

The complexity of some risk management platforms can lead to a steep learning curve for institutional investors, draining resources and creating stress.

At its June meeting, the Fed opted to forgo an increase in its key lending rate for the first time since March 2022 but projected that more rate hikes may be possible by year-end. Our investment strategy analyst shares his thoughts on when the central bank’s rate-hiking journey could finally end.

Our director of Customized Portfolio Solutions and overlay portfolio management, Brian Causey, shares his key takeaways from 20 years of working on overlay solutions.

Interest-rate volatility on shorter-duration assets is running near historical highs, even as rate changes begin to level off.

While the retirement of several high-profile CIOs has generated ample news, and headlines, there’s been very little press coverage about OCIO as a potential solution. We find this perplexing.

In a difficult year such as 2023, rebalancing between asset classes that are declining may seem a futile exercise. But rebalancing, even in down markets, remains vital to keeping a portfolio within the right risk/reward ratio and is a key element of the value that an advisor can provide to their clients.

The passage of the debt-ceiling deal removes a significant threat to the economy and markets. The focus now shifts back to where it’s been for the past 18 months: inflation, the Fed, and recession risks.

A robust implementation strategy and real-world implementation capabilities are both necessary in order to achieve your portfolio’s preferred position.

In the five months prior to U.S. recessions dating to the 1920s, the equity Momentum factor was the top performer, with an annualized cumulative excess market return of +6.7%, on average.

Is the debt-ceiling agreement struck between the White House and Republican Party leaders likely to be approved by Congress? Our chief investment strategist explains why we believe the answer is yes.

The stresses in the CRE market do not appear to pose a systemic threat to the global banking system.

As other nations seek to become less dependent on the U.S. dollar, rumors of the greenback’s potential demise continue to swirl. Can the dollar remain king of the world’s reserve currency?

Over the past decade or so, there has been a broad trend in the industry toward closing and freezing defined benefit plans.

The terms private credit and private debt are often used interchangeably to describe direct origination credit strategies. But, the business is also known by another name: non-bank lending.

Negotiations among lawmakers in Washington, D.C., to raise the debt ceiling might trend in a more favorable direction.

The U.S. economy is likely slowing down, and a recession seems likely in the 12-18 month time horizon.

Working with a skilled OCIO provider can help you position your portfolio to benefit from investment opportunities and avoid uncompensated risks.

Rising rates in today's fixed-income markets have led to more attractive bond prices and higher yields, alleviating some of the challenges facing income investors.

Many investment strategists are forecasting that the U.S. economy could experience a recession in the next year or two.

One of my mentors once told me that "Hope is not a strategy" and since we can't predict the markets, I have decided to focus this blog on using Direct Indexing to attract new high net-worth clients.

U.S. Treasury debt is considered the closest debt in existence to having no default risk. The ongoing game of financial chicken between Congress and the White House puts this assumption in doubt.

In the past three years, special purpose acquisition companies (SPACs) experienced stratospheric growth, became a manic bubble as sponsors raised new IPOs with a relentless fervor along with a market happy to oblige.

The volume of SPAC IPOs and mergers has reverted to pre-hype levels. Funding from public and private investors has plunged, while redemptions by existing investors have increased sharply.

Direct indexing is an innovative investment strategy that can solve a variety of investor challenges. We discuss the five main benefits of incorporating direct indexing in a client’s portfolio.

Tax season isn't the only time advisors should think about how taxes may impact their client portfolios. There are various strategies advisors can use year-round to ensure they are investing in a tax-efficient manner. Helping your clients maximize their after-tax wealth is an important element of the value you provide.

Tax-managed investing has gained in popularity in recent years. But what exactly is a tax-managed mutual fund? We do a deep dive into the concept.

• Most mutual funds or ETFs can't solve certain issues that your high-net-worth clients may face today
• Direct Indexing can help investors with tax management, diversifying concentrated positions or imposing restrictions for a variety of reasons.
• Direct Indexing may help solve investment challenges that requires personalization and tax management

Everyone knows it by now: 2022 was not a kind year for investors, particularly balanced fund investors. There were no silver linings, no shelter from the storm; it seemed that no matter what levers you had in place to protect clients’ wealth, there was very little to cheer about on investor return statements.

Many advisors today are helping clients with a broad range of their financial planning needs.

Worries about the health of the overall banking system have led to a drawdown in deposits, with investors yanking nearly $100 billion in deposits from U.S. banks during the week that ended March 15. What’s more, there are fears that the stresses in the banking sector could be the start of the next financial crisis.

Predicting spot exchanges is tricky, but there are still ways of adding value in currency markets, including through a disciplined approach we call currency factor investing.

In a closely watched decision, the Fed lifted its benchmark lending rate by 25 basis points to a range of 4.75% to 5% at the conclusion of its March policy meeting.

The new SECURE Act 2.0 (Setting Every Community Up for Retirement Enhancement Act) seeks to make it easier for U.S. taxpayers to save for retirement and expands access to retirement plans.

We believe municipal bonds boast several key factors that position them as an attractive asset class in general, but especially so when markets are volatile.

International Women's Day is a global observance that recognizes and celebrates women's social, economic, cultural, and political achievements.

• By 2030, $30 trillion, or two-thirds of U.S. personal wealth, will be controlled by females
• Women are increasingly making decisions for themselves and their families in all other aspects of their lives, and financial advice is no different
• Women-only events can be a way to achieve that deeper connection with this important demographic and help advisors not only retain their current business but potentially grow it

We just finished up our annual report on the $20 billion club, and we've concluded that 2022 was a weird year for pension plans.

Advisors who have business owners as clients need to adapt their discovery process and service plans to help these independent and resourceful investors.

With the new year in its infancy, it may be too early to think about where to spend Thanksgiving or booking your car’s fall tune-up.

Investors should be aware of potential real-time market exposure risks when implementing large changes to their portfolios.

At the conclusion of its inaugural policy meeting of 2023 today, the U.S. Federal Reserve (Fed) delivered a smaller, quarter-point rate hike, as widely expected by markets.

Our 2022 ESG manager survey findings reinforced our belief that the integration of environmental, social and governance (ESG) factors into investment processes is here to stay.

This fall was a memorable time in the Halverson household.

It's the end of the world!

After years of uncertainty around how U.S. retirement plans could consider ESG factors, the dust is finally settling. It’s official: A Nov. 22 rule issued by the Department of Labor (DOL) allows retirement plans to consider financially material ESG factors when selecting investments and exercising shareholder rights.

We believe private credit is an attractive investment with greater market coverage and a timely opportunity to benefit from the scarcity of fresh capital.

Everyone seems to be paying more attention to the cost of goods and services these days. But there is one cost that many investors pay without realizing it – the cost of taxes on their portfolios. Here's why this cost matters and what you can do to help your clients avoid it.

Our annual ESG manager survey of active managers assesses the integration of ESG considerations in investment processes among equity, fixed income and private markets managers, and spotlights firmwide policies, use of data, engagement and integration.

Corporate defined benefit (DB) plan sponsors face two primary risks: equity risk and interest rate risk.

Is tax drag holding your clients back?

Balancing financial gain and personal values can be a challenge for investors. A fund of funds approach to impact investing can help to provide the best of both worlds.

When markets are challenging, your clients look to you to help manage their expectations as well as their hard-earned money.

Is a recession lurking around the corner in 2023? If so, how might it impact defined benefit (DB) plan sponsors—and what steps, if any, should they consider taking?

10 years have passed since the watershed year for pension risk transfer.

Central banks haven't finished tightening and the U.S. Treasury yield curve remains inverted.

Let’s face it, the last three years have been challenging for investors. The global pandemic has had a domino effect on so many aspects of our lives.

With the ever-increasing need to decarbonize our global economy, investors are now focused not only on the why behind decarbonizing, but also the how.

It’s been a tough first half of the year, with the MSCI All Country World Index down by 21.7% and the Bloomberg Global Treasury benchmark losing about 9% as of June 17.

The world of politics and political maneuvering never ceases to amaze us.

On the latest edition of Market Week in Review, Chief Investment Strategist for North America, Paul Eitelman, and Research Analyst Laura Bardewyck reviewed early results from second-quarter earnings season.

As institutional investors, we most often represent risk as annual standard deviation or tracking error. But when we implement changes in our portfolios, the real-time risk happens much faster.

One of the vexing questions for China watchers has been the lack of stimulus delivered, despite the maintenance of the government’s 5.5% GDP target for 2022 (although there is skepticism around the ability to reach that 5.5%).

While a direct indexing strategy is a great addition to an investor’s portfolio, you’ll want to ensure your clients are properly diversified and also poised to reap the benefits of active management, while recognizing that active management doesn’t generate as many tax losses as tracking the index does.

Recession fears and central-bank tightening are driving market volatility.

After months of hand-wringing, U.S. indexes are now in bear-market territory across the board, down 20% from their most recent highs.

On the latest edition of Market Week in Review, Director of Investment Strategies, Shailesh Kshatriya, and Director of Institutional Investment Solutions, Greg Coffey, discussed the recent PMI (purchasing managers’ index) readings from China and the U.S.

There is increasing awareness among investors of the important role that responsible investing plays in a well-diversified portfolio.

Tax Day has come and gone.

Investor interest and participation in private markets continues to grow.

With the world economy still recovering from the COVID-19 pandemic and now dealing with the Ukraine-Russia crisis, markets face a great deal of uncertainty.

It's no secret that in fixed income markets, excess performance above the benchmark is difficult to achieve over the long run.

On the latest edition of Market Week in Review, Director of Investment Strategies, Shailesh Kshatriya, and Director of Institutional Investment Solutions, Greg Coffey, discussed market reaction to the latest developments in the Russia-Ukraine war.

Russia's invasion of Ukraine has sparked higher inflation, unleashed additional market volatility and will likely lead to a slowdown in global growth rates. However, we believe above-trend growth is still possible this year, provided hostilities ease and energy prices stabilize.

Last week, I was driving home from a business trip when I suddenly got a call from my parents.

This year's theme is #BreakTheBias and I thought it might be fitting to look at a few of the common biases when it comes to female investors - and how financial advisers can work toward better addressing some of these, not only with clients, but with their teams as well.

We believe the war in Ukraine will likely negatively impact growth rates during the first half of the year and lead to higher inflation, with Europe taking the biggest hit. However, we think growth could rebound during the second part of 2022 if energy prices decline.

Since 2011, we have issued annual reports on the largest listed corporate defined benefit (DB) sponsors in the U.S., codenamed the $20 billion club.

What many feared may happen came true overnight with Russia invading Ukraine from all sides—Crimea, Belarus and Russia.

As we begin 2022, there is a lot of noise in the marketplace: midterm elections, omicron and everything in between.

From 2008 onward, U.S. market returns have been strong and consistent, and 2021 was no different, with the S&P 500 returning a solid 29%.

The term direct indexing is somewhat of a misnomer.

Many people will see the beginning of 2022 as motivation for a resolution.

Rougher seas lie ahead for non-profit fiduciaries as the COVID-19 pandemic stretches into 2022 and refuses to retreat quietly into the night.

Talent is quitting. And new talent is hard to hire.

As soon as an asset owner allocates capital to more than one manager, an interaction effect exists which will have an impact on the investor’s overall portfolio outcome.

While world leaders seem unable or unwilling to pass legislation to meet their commitments, Russell Investments is on a mission to support the low-carbon economic transition through our active ownership activities.

Private markets can help to future-proof your portfolio through responsible investing. Samantha Steele, director, private markets, dives into the main trends and challenges that investors should consider.

With 2021 almost finished, it's a good time to look ahead to the key questions and themes for 2022. Overall, we believe economic growth, inflation and investment returns should moderate through 2022, but expect growth to remain above trend, which should support the outperformance of equities over bonds.

Taxable assets make up nearly half of the U.S. mutual fund universe. Helping your clients reduce the tax bite on these assets could help you differentiate your value proposition.

After a year of rebound and recovery, we believe that economic growth, inflation and investment returns are likely to moderate in 2022.

Key takeaways from Powell's renomination and his remarks on inflation, as well as an assessment of the risks the omicron variant of COVID-19 may pose to markets.

As the last wave of baby boomers heads into retirement, the need for a consistent and reliable stream of income is growing. Advisors seeking a balance between generating income and providing for future growth may want to consider income-focused model strategies.

Investor participation and interest in private equity continues to grow. Investors are attracted to private equity for different reasons, including access to the significant investable opportunity set that exists across the universe of private companies, along with lower volatility when compared to public equities.

In this latest survey, 53 leading bond and currency managers considered valuations, expectations and outlooks for the coming months. With the economic recovery undeniably ramping up, we asked managers for their thoughts on valuations in the markets.

Increasing regulation and stress in the property sector have led to lowering expectations for Chinese economic growth in 2022. Could the global economy be impacted as well?

At Russell Investments we have created a series of podcasts aimed at helping you gain insight in how to build a better business, or attract female clients, minimize the impact of taxes on a portfolio or articulate the value you bring to your clients.

This year marks our seventh annual ESG manager survey. Our survey of active managers assesses the integration of ESG considerations in investment processes among equity, fixed income and private market managers and spotlights firmwide policies, use of data, engagement and integration.

Transitory or not, the current inflation rate has many investors concerned. A look back in history can put today’s situation in perspective.

Realigning a client’s taxable portfolio to a new investment strategy can be cumbersome and often generates taxes. This is particularly the case when repositioning an equity portfolio with appreciated shares and the corresponding embedded gains.

Here we discuss two tax efficient approaches to transition an equity portfolio populated with low basis shares to a new strategy:

1. The Timeline approach which moves the existing portfolio to the new strategy over a set number of years.
2. The Tax-Budget approach which moves the existing portfolio to a new strategy while limiting taxes or capital gains per year.

How do managers in the emerging markets, global/international, Asia and China equities spaces feel about the market’s reaction to events in China? Here's what our recent survey reveals.

Chair Jerome Powell and the Fed had been holding the market’s hand in the lead-up to the tapering decision, making it abundantly clear that a decision was imminent at today’s meeting and effectively pre-announcing all of the relevant details of the decision...

In the lead-up to the 2021 United Nations Climate Change Conference, the TCFD released several important updates. We take a look at what the TCFD is and why the TCFD’s recommendations are becoming an increasingly important reference for investors and financial regulators.

Given the inherent volatility of small capitalization stocks, even small differences in benchmarks can affect relative returns. Investors should be aware of the composition of the index used to define the opportunity set when comparing performance.

Performance highlights from the third quarter of 2021, plus manager expectations for the final months of the year.

Excerpts from Cerulli Associates' report on asset owner and manager perspectives when it comes to promoting diversity & inclusion.

Many mutual funds will distribute capital gains every year—no matter what the market does. As 2021 comes to a close, advisors can begin to prepare their clients for the impact of those distributions and take steps to minimize the tax bite going forward.

Need some new ideas about how to attract new clients or get greater share of wallet from ones you already have? Try a few of these on for size.

With potential tax increases on the horizon, advisors can take steps now to minimize the impact of any changes in tax policy.

On the latest edition of Market Week in Review, Director of Investment Strategies Shailesh Kshatriya and Investment Strategy Analyst BeiChen Lin discussed recent political headlines in Washington, D.C., the rise in U.S. government bond yields and the potential outcomes of Germany’s recent elections.

As the globe enters the waning months of 2021, concerns over inflation, the delta variant of COVID-19 and the unwinding of easy-money policies loom large for markets. Despite this, we believe that the business cycle is still in a recovery phase, although it’s maturing. We expect more cyclical upside for economic growth outside the U.S. in the months ahead, allowing market leadership to rotate toward the rest of the world.

On the latest edition of Market Week in Review, Chief Investment Strategist Erik Ristuben and Head of Portfolio & Business Consulting Sophie Antal Gilbert discussed U.S. consumer prices and wages, key factors impacting U.S. small businesses and home sales in China.

The numerous proposals around tax policy in the upcoming budget debates mean it’s an opportune time to discuss tax-smart strategies with your clients.

On the latest edition of Market Week in Review, Senior Portfolio Manager Megan Roach and Julie Zhang, head of North America sales enablement and analytics, discussed the latest data on U.S. jobs and wages, recent central bank actions and the state of the global economic recovery.

The labeled bond market has seen explosive growth in issuance over the past two years.

The ongoing pandemic and resulting economic challenges have left many investors steering an unpredictable course. Meanwhile, the probable upward trajectory of tax rates will likely bring more challenges.

There are four hazards you and your clients should be aware of when considering how to manage taxes on investment portfolios. Request this client-ready guide today and learn more.

Now may be a great time to meet with your tax-sensitive clients and uncover taxable wealth opportunities. Actively managing taxes on investments despite tax rate uncertainty will help you and your clients be in the best position for building their after-tax wealth through the remainder of 2021 and beyond.

P is for aligning products to meet each client’s unique goals, circumstances and preferences.

The current wave of regulatory intervention by the Chinese government has been far reaching, addressing matters including anti-trust, data protection, property speculation, climate change and various interventions in relation to social abuses.

Key drivers behind the recent selloff in SPACs, and the market outlook going forward.

Tax proposals and changes to the tax code are a near daily story right now.

If there is one experience common to us all during the global pandemic, it is that the spread of COVID-19 around the world caused everyone—young or old, rich or poor, male or female—to reassess our priorities.

The industry is now seeing an expansion in data-driven practices, with new ESG and climate datasets emerging and becoming mainstream.

As a woman who has worked in the financial services industry for 23 years, I’m keenly aware of the central role we play in money decisions.

As summer hits its stride, here are some musings about municipal bond performance to mull over as you unwind at the beach or on the couch (no judging!).

Everything changed for me, my family and everyone I know on a Friday the 13th.

The global economic reopening remains on track as COVID-19 vaccination rates climb.

U.S. and global equity markets are up 92% and 81%, respectively, from their March 23, 2020, lows through May 31, 2021.

With only a few brief downturns in an otherwise upward trend in the U.S. equity market since the Global Financial Crisis, declining interest rates have pulled forward the net present value of distant earnings and propelled growth stocks (and the market as a whole) higher.

Something that I am asked by advisors over and over again is what ideas have you heard?

Find out what happens to advisor value when tax-smart planning and investing are offered to clients. In this year of historic government stimulus packages, it seems likely that taxes are only going up as we emerge from the global pandemic.

Discover how an active tax-managed investing approach can potentially provide significant value to your clients. Don’t miss out on this way to further sharpen your value with clients. How do you compare? Get the study.

On the latest edition of Market Week in Review, Director of Investment Strategies Shailesh Kshatriya and Head of Portfolio & Business Consulting Sophie Antal Gilbert discussed the meeting minutes from the U.S. Federal Reserve (the Fed), the latest inflation data and the recent volatility in cryptocurrency markets.

Effective vaccines, historic fiscal stimulus, Democratic Party control of the legislature, even more stimulus, reopening economies, 6% U.S. real GDP (gross domestic product) growth, 25% U.S. EPS (earnings per share) growth, and maybe even an infrastructure plan sprinkled on top.

It’s coming. Is it here? Perhaps. Or maybe not. But sooner or later, it is coming. Preparing now for the eventuality seems the most prudent course.

Investors and planners desire clarity around tax rates to help make informed decisions around investment moves and related impacts to portfolios.

We believe that the recently announced U.S. stimulus deal reinforces the positive economic outlook for 2021. Here's why.

As the sun sets on one of the most challenging years in memory, many healthcare systems and other types of non-profits find themselves in starkly different financial situations than they were at the start of the year.

Is the rotation toward value here to stay? What could stall the economic recovery? In the first in a four-part series of blog posts, we explore the key issues that are likely to impact the investment landscape in 2021.

The ravages of the pandemic mean a shift is needed to boost financial resilience, Chairman and CEO Michelle Seitz writes in the Financial Times.

We anticipate that COVID-19 vaccines and the easing of lockdowns will allow for a return to more normal economic activity by mid-2021.

Passage of last year's SECURE Act may spark increased adoption of lifetime income products in defined contribution plans. Here's why.

Will support for ESG investing in the U.S. increase under the administration of President-elect Joe Biden?

Trading over the holidays? You’ll want to check this list—errr, article—twice.

This is the fifth and last blog in our 2020 series, discussing why Russell Investments believes in the value of advisors. Here we discuss tax-smart planning and investing.

Amid the ongoing COVID-19 crisis, we believe that investing in private markets may offer a raft of potential opportunities. Here's why.

In today’s blog, I will update the current status of the election results, extend the conversation with regards to the market reaction at this point and revisit what we see as the most important factors investors should be considering going forward.

Key takeaways for investors amid the tightening race for the White House and control of the Senate.

The volatility of the cross-currency basis was a point of focus throughout March and April, swinging wildly in either direction as funding stresses surfaced. A scramble for liquidity and dollars was, with impressive effectiveness, ultimately satiated by the handiwork of central banks, most notably the U.S. Federal Reserve’s flooding the monetary system with the pre-eminent reserve currency.

The latest on how equity managers across the globe fared during the third quarter, plus how the upcoming U.S. election is impacting manager viewpoints.

U.S. Treasury bonds are not likely to repeat their spectacular performance as income-producing risk reducers in portfolios of the past four decades. While bonds still have an important role to play in some settings (e.g., liability hedging for retirement plans), we believe investors should look at alternatives for diversification, including inflation-protected securities, gold, defensive currencies and stocks and option protection.

The transition toward a more sustainable energy system presents potential opportunities for investors. We explore what those opportunities are, and identify potential watchpoints.

We believe now is as good a time as any to do a portfolio assessment. Here’s why investors and their advisors shouldn’t lose sight of how diversification and taxes affect portfolio returns.

Despite stellar equity returns over the last decade, the funded status for many defined-benefit plan sponsors has either stagnated or fallen. Here's why.

We believe paying taxes is a scenario where kicking the can down the road can actually be a good thing for taxable investors. Here’s why.

It's a new cycle for the economy, but some asset classes look decidedly late cycle in terms of valuation. What might this mean for markets through the remainder of the year?

Imagine if you could show your clients the impact of taxes between funds and categories. Now you can. Here’s an exclusive first look at our Tax Impact Comparison Tool.

Your social network may be an untapped and robust source for uncovering prospects. While you may be suffering from COVID-19 fatigue, we believe prospecting and having introductory conversations about the services you provide could be one of the best uses of your time.

It’s open season on capital gains. Four ways advisors can help clients navigate potential unpleasant taxable distributions.

With the COVID-19 crisis far from over, we expect increased policy stability in the U.S. next year, no matter who wins in November.

Five companies now comprise 26% of the market capitalization of the S&P 500® Index, making for the most concentrated U.S. equity market in the last 40 years. What are the potential dangers of this for investors?

With multiple future scenarios as to how climate change may play out, there are also multiple potential consequences in store for investments. This post takes a detailed look at climate-change risk management.

The U.S. stock market seems to be looking through this economic catastrophe. For the five months and one week since the start of the recession—March through August 7, 2020—the U.S. stock market, as measured by the S&P 500, has returned +14.3%.

Emerging markets are confronting a slew of short-term challenges caused by the coronavirus pandemic. Is there hope for a turnaround on the horizon?

We believe that the Norwegian krone and the New Zealand dollar stand to benefit from how their governments have handled the coronavirus, whereas the appeal of the U.S. dollar may wane due to high infection rates.

We explore the increased use of engagement terminology by fixed income market practitioners as a part of their ESG integration efforts.

Ultimately, we believe that investors who are unaware of ESG and do not integrate ESG into their investment processes may be exposing themselves to additional, unnecessary and possibly unrewarded risks.

With less than four months to go until Americans cast their votes for president, we’ve fielded an increase in questions from clients as to whether the U.S. presidential election poses a risk to markets and the economy. The short answer is yes.

Imagine telling clients you’re their guru, guide and gladiator. Learn a simple framework to help articulate your distinctive value.

This is the second in a series of posts focusing on the formula of advisor value. In this post, we tackle the behavioral mistakes that investors typically make. Addressing the investment behavior of your clients may be the greatest value you provide.

The case for considering tactical and long-term allocations to small cap stocks.

Markets have rallied on hopes for an economic recovery as coronavirus-imposed lockdowns are eased across the globe. The rebound has been helped by oversold investor sentiment, but with sentiment back to neutral, so too is our strategists’ market outlook.

Can you reignite the growth of your business in the the second half of 2020? We think so. Here’s why we believe the next six months may hold a once-in-a-lifetime opportunity.

In this latest survey, 68 leading bond and currency managers considered valuations, expectations and outlooks for the coming months.

Having trouble helping your clients appreciate a balanced portfolio? These charts may help.

Our secrets for hosting a great virtual meeting.

Three factors that may explain today’s disconnect between Wall Street and Main Street.

This post is part of a series delving into the growth-versus-value debate. Here we explore three considerations when evaluating growth-versus-value positioning.

We're excited about the opportunities we see in value investing going forward. Here's why.

I’m trying to think of a year when rebalancing has been more important. None come to mind.

Potential for a large payoff on value strategies may exist soon, if history is any guide.

Capital markets are in disarray in reaction to the coronavirus crisis and the necessity of pausing the global economy. The CBOE Volatility Index (the VIX) rose to over 80 in March and thankfully has settled down to a level of about 35, which is still over twice its trailing five-year average of about 15.

Key watchpoints for China as it emerges from the COVID-19 crisis.

Drawing on lessons learned from the credit crisis of 2007, here's how we're transitioning fixed income assets amid the coronavirus pandemic.

I hope this message finds you and those close to you in good health as we all navigate the fallout that happens when a health crisis spills over and triggers an economic crisis.

I started in the business in a mutual fund call center right out of college in 1999 (DVD players were all the rage, Y2K panic was a thing and “Who Wants to be a Millionaire” was on). At that point, average annual returns were high for the S&P 500 and most mutual funds—until the bubble burst.

Russell Investments has long held that it is possible to create investment value while incorporating values into the decision-making. In this blog post, we continue on that theme and highlight a small collection of securities that demonstrate doing well while doing good.

See how the coronavirus pandemic is impacting manager viewpoints across key geographic and equity regions.

Client language is different from advisor language. If you want clients to understand you—and more importantly, you want to understand them—consider adopting these tips.

Two months into one of the most disruptive crises of our lifetimes, we have all become accustomed to words and phrases such as unprecedented, severe, social distancing, etc. Although these words are perhaps less jarring than they were prior to the onset of the coronavirus outbreak, they truly do capture the impact of this health crisis on the economy, now and in the years to come.

The health of our planet depends on responsible investing. On Earth Day and every day, it has our full support.

What is the value of a financial advisor in 2020? We believe financial advisors have never been more valuable than they are right now. This annual Value of an Advisor study quantifies that dedication and the resulting benefit.

News is an interesting concept, in that information really only counts as news if it’s unexpected. On the flip side, information isn’t news if it is expected. April, however, is showing that even when the expectation is for bad news, the cumulative effect of so much negativity can still weigh on markets heavily. In other words, just expecting bad economic data does not necessarily make the market invulnerable to mountains of it.

While ESG was initially a hot topic for equity investors, fixed income market investors are quickly catching up. In this blog, we aim to share some key ESG integration trends we see among the fixed income market participants.

With a very healthy dose of humility, let’s take a look at what a reopening of the global economy may look like.

When it comes to ESG, not all issues matter equally across industries. We believe our newly updated ESG scoring methodology best captures the issues that are truly material to companies.

Global equity index futures are trading up about 4% this morning. The coronavirus data over the weekend was less bad. The growth rate in new confirmed cases over the last 24 hours globally was the lowest since March 17—a welcome sign that containment measures are gaining some traction in slowing the spread of the disease.

Just about every facet of life has changed due to the coronavirus pandemic. For many, this has involved adapting to working from home. We share our best practices and tips to help you maintain your productivity—and your sanity.

As the world continues to grapple with the coronavirus, some areas of the market are showing signs of incremental improvement.

Hope is not stupid. My colleague, Paul Eitelman, did a nice job yesterday preparing our clients for the likely horrible news that will most likely greet us for the month of April each and every morning. Today, I would like to take a moment to talk about reasons for hope.

Rebalancing is a case where inaction creates risk to policy in volatile times. One of the most critical rebalancing points of the past decade is ahead of us. So now what?

Policy makers in the U.S. generally have more work to do to limit the damage of the coronavirus crisis than their counterparts in Europe. Here’s why.

A global recession is likely through the first half of the year, with a rebound possible during the second half of 2020, provided the virus threat subsides.

The U.S. Federal Reserve unveiled a series of significant policy measures to help sustain the economy.

We have spent much of the last week talking about the efforts coming out of the U.S., as the Federal Reserve and government leaders are working hard to offset the real economic damage being inflicted by the crisis.

Amid ongoing market chop, more positive signs are emerging from policymakers and central banks as efforts to soften the economic damage caused by the coronavirus continue.

It has been long said that fear and greed drive the market in the short-term. In the long run, however, fundamentals ultimately determine price. When we say fundamentals, what we are really talking about is that the future earning potential of a stock will ultimately drive its value

Our four general rules to help keep clients calm and invested when markets turn choppy.

Markets are eagerly awaiting an announcement with regard to the type of fiscal support the U.S. and other governments will come to the table with. This support will be aimed at preventing potential temporary economic headwinds from becoming more permanent impairments to the global economy.

One of the keys to the outlook here is the ability of businesses to get to the other side of potentially acute short-term cash flow problems. Fiscal policy holds the necessary antidotes in its ability to provide targeted, material support to impacted sectors.

Whatever the news of the day is for the foreseeable future, it is this tension and search for answers that is driving daily market activity. As we have said before, the unpredictable nature of this threat is making finding those answers more difficult. The market hates uncertainty above all things, as uncertainty begets volatility. Expect volatility.

Our outlook for interest rates, assessed through our investing framework of cycle, valuation and sentiment.

Overall, the net effect of this is that funded status stayed roughly the same, likely frustrating sponsors who saw assets rise without a corresponding increase in funded position.