Andrew Susser manages the MainStay High Yield Corporate Bond Fund (MHCAX). Over the last 15 years, the fund has ranked in the 12th percentile of its Morningstar peer group; its annualized return was 8.45%, 395 basis points ahead of the AGG and 95 basis points greater than its peer-group average. In this interview, he discusses the opportunities in the high-yield market.
Bob Rodriguez, FPA’s now-retired portfolio manager, earned many awards and distinctions during his 33-year career. In this interview, he talks about the role of the Fed in the price-setting mechanism. “When the markets finally do break, as they always have historically, ETFs and index funds will be destabilizing influences,” he says.
The purpose of this focus group is to gather advisors’ observations on actively managed US equity funds. This focus group will take place as a private APViewpoint conversation.
Advisors who are not part of the focus group will not be able to view this conversation, and advisors who are part of the focus group will not see the responses of the other participants.
If you are selected to participate in this focus group, you will be required to thoughtfully answer a series of questions, at your convenience, over a seven-day period. It will take approximately an hour to answer the questions. At the completion of the seven-day period, Advisor Perspectives will pay you $100, either to your PayPal account or as an Amazon gift card (your choice). Alternatively, you may designate that the $100 be donated to one of four charities: the American Red Cross, the USO, the Foundation for Financial Planning or the Jimmy Fund (a cancer-research organization).
To participate in this focus group, you must meet the following criteria:
An anonymous sponsor is looking for 30 advisors to participate in an online focus group to be hosted on APViewpoint. The purpose of this focus group is to gather advisors’ observations on actively managed US equity funds. This focus group will take place as a private APViewpoint conversation.
Underfunded pension plans grab the headlines. But that’s not what drives prices in the municipal bond market, according to Tom Doe. It’s the interplay between supply and demand – and right now yields are depressed due to a shortage of high-quality bonds.
Many wealthy clients, especially owners of closely-held firms, have interests in subchapter-S corporations. The tax policies proposed by the Trump administration will have a significant impact on them, according to Toni Nitti.
If you’ve attended as many advisor conferences as I have, you know that panel discussions featuring speakers whose firms have booths in the exhibit hall are rarely more than a “pitch fest” – an opportunity for panelists to promote their firms’ strategies. However, a panel on alternative investments at the Pershing conference last week was an exception.
While generally upbeat about global economic prospects, former Treasury Secretary Jack Lew warned policymakers against “blowing a hole in the deficit” by cutting taxes and pursuing aggressive fiscal policy measures.
The history books will document that U.S. interest rates hit their secular bottom in July 2012, according to Jeffrey Gundlach. Although bonds prices have rallied in the first half of this year, he said they will continue to fall.
Harry Markopolos, the investigator who exposed Madoff, has uncovered a new fraud. The unfunded status of the pension fund of the Boston Transit Authority is $500 million bigger than previously thought. This will have a significant impact on the municipal bond market, especially if it turns out that the problems are endemic among similar pension funds.