Is Direct Indexing Right for Your Clients?

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About This Episode

Across the U.S. wealth spectrum, $2 out of $3 of investable assets are in taxable accounts. Having a comprehensive tax management strategy is critical. In the context of separately managed accounts, tax-loss harvesting is one component of a tax management strategy. Tax-efficient or tax-aware portfolio rebalancing is a key part of that. That includes the ability to evolve or rebalance the portfolios periodically in a tax-efficient manner by minimizing the overall tax liability. The tax-efficient techniques involve pairing gains against losses or avoiding short-term gains in favor of long-term gains, or capping gains in general to minimize overall tax cost.

About Our Guest

Manju Boraiah is a senior portfolio manager and the head of systematic edge fixed income and custom SMA investments for the Systematic Edge team at Allspring Global Investments.

In this role, Manju is responsible for overseeing all active factor-based and enhanced passive fixed income capabilities and solutions. In addition, he leads Allspring’s retail custom separately managed account (SMA) capabilities and is responsible for setting and driving the strategic vision for Allspring’s custom SMA platform. Manju is also the chief architect of Remi, Allspring’s tech-enabled investment platform that delivers customized, tax-optimized SMAs at scale.

He joined Allspring from its predecessor firm, Wells Fargo Asset Management (WFAM). Before WFAM, Manju served as managing director and head of systematic macro strategies at State Street Global Advisors. Before that, he was a founding partner and co-head of research and portfolio management at Incapture Investments and Technologies. Earlier, Manju served as a senior researcher and portfolio manager for the quantitative investment strategies team at Goldman Sachs Asset Management, where he managed systematic global tactical asset allocation strategies. Manju was also a founding member of BlackRock’s emerging market team, focused on building and managing systematic strategies in emerging market rates, FX, and credit as part of the Fixed Income Global Alpha hedge fund. He has held a number of research positions at Stanford's Project-Based Learning Lab and Stanford-NASA National Biocomputation Center.

Manju began his investment industry career in 2006. He earned a bachelor’s degree in computer science from RV College of Engineering, India, and a master’s degree in computational mathematics from Stanford University.

Show Notes

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