Join Matt Burdett, Head of Equities at Thornburg Investment Management, for an educational webcast as they explore the macro landscape and highlight global opportunities for investors seeking a path forward.
As clients age and their financial lives evolve, most reach a point where they stop accumulating investment assets and begin taking distributions from their investment and retirement portfolios. This presentation introduces financial advisors to a comprehensive approach to creating longevity-oriented investment portfolios and managing retirement income.
Non-U.S. equities have underperformed their domestic counterparts for over a decade. Unsurprisingly, this has led investors to overweight the U.S. in their portfolios. At Thornburg, we believe opportunities still exist if you’re willing to separate fact from sentiment.
When a client experiences an unexpected life event like job loss, it can be hard to focus on important financial conversations. With talk of “The Great Resignation” upon us, clients experiencing a job transition may be more prevalent than you think.
This program identifies some of the critical decisions facing clients after a loss of a job or during a life transition. Restoring Retirement reminds you of the critical role you play in managing your clients’ financial plan as well as providing moral support.
Have major central bankers and fiscal authorities effectively pursued Modern Monetary Theory in practice, if not in name, as debt monetization has lost its stigma?
U.S. equities have had a great run for more than a decade. Investors may now be over-exposed to domestic stocks, particularly given the size of overseas equity markets and the number of idiosyncratic businesses within them.
Electoral surprises spur stock and bond market turbulence, but sensibly diversified and balanced portfolios don’t depend on political outcomes.
Please join Di Zhou, portfolio manager on the #1-rated Thornburg Better World International Fund*, and Jake Walko, director of ESG investing & global investment stewardship, for a conversation about what’s important for advisors and their clients to know about today’s ESG landscape. Three takeaways you’ll learn:
Emerging markets have come of age, but to capture opportunities while avoiding risks, a disciplined, fundamental, balanced approach matters.
Federal Reserve and other major central bank stimulus should benefit high-quality value stocks and foster inflation’s “green shoots” as the global economy emerges from recession.
After seven years of massive amounts of QE and nearly four of yield curve control, the BoJ has yet to sustainably keep inflation at its 2% target or revive GDP growth meaningfully.
Supporting the beaten-down labor market is the Federal Reserve’s “major focus,” not inflation nor risk asset prices. Doing “whatever we can and for as long as it takes.”
Digitization in banking and retail comes in the wake of a massive cellular network rollout, creating attractive investment opportunities in India.
While energy investment retrenches in the wake of COVID-19’s historic impact on oil and gas markets, consumers will benefit as economies reopen. Selective and patient investors should too.
In this CE webinar, Jan Holman, Thornburg Investment Management’s Director of Advisor Education, will:
Portfolios comprised of top-notch equities and bonds coming into the economic and market crises should do even better coming out of it.
After false starts in the last few years, we believe emerging markets are set to deliver strong performance in the year to come.
Risk assets begin 2020 at lofty price levels. Are stocks fully valued, or rather a relative value versus global bonds?
Read a conversation with Thornburg Chief Investment Strategist Brian McMahon who surveys the unfolding investment landscape.
Supply and demand growth in liquefied gas benefits some producers more than others. For investors in U.S. upstream gas producers and Gulf Coast LNG infrastructure, caveat emptor.
The market has bid up Brazilian assets in anticipation of economic reforms, but the optimism should be well measured and individual securities well picked.
“There’s no free lunch” is an axiom often heard in both investing and economics. But what if there’s a way to limit the pain of market downdrafts and still gain from the rebounds? Can disciplined security selection, sound portfolio construction and calibrated rebalancing, as position size and market dynamics evolve, improve the odds for risk-adjusted outperformance, if not necessarily bagging something for nothing?
The Fed is poised to join the global easing bandwagon, fueling a surge in risk asset prices. As market distortions from easy money grow, so does the importance of security selection and portfolio allocation.
For yield-seeking investors, dividend-paying stocks may present a compelling risk-adjusted return opportunity over bonds.
The Fed is tasked with keeping prices stable, unemployment low and long-term interest rates moderate. The monetary alchemy with such unstable elements is coming under review.
Given the rise of passive strategies in both equity and fixed income markets, today’s investors often hold actively managed strategies to a higher standard of performance than they have in the past. The failure of some “core bond” strategies to meet investor expectations has prompted them to search for alternative solutions.
Those of us who have chosen a career in the financial services industry believe in the value of financial advisors. We know that financial experts are important for any individual who is trying to achieve a financial goal. But not everyone agrees with us.
Big-ticket, ultra-short notes force muni SMAs with low minimums to buy longer-term paper at rich prices, likely giving clients more heartburn than total return.
Despite sprinting higher so far this year, developing country equities appear well positioned to sustain their momentum, and with less volatility.
Surfing for opportunities while using vigilance to avoid wipeout.
Just because the market is celebrating the Fed’s policy u-turn doesn’t mean volatility is a thing of the past. Disconnects between fundamentals and assets prices don’t make for market stability.
Turns out price matters for excess returns, and that what’s worked before doesn’t necessarily persist into the future. “Many factors aren’t real.”
Caveat emptor: current technical supply and demand flows favor issuers more than buyers. But diligent, disciplined investors can always find attractively priced, fundamentally sound bonds.
While investors should be cognizant of the complexities and risks around Brexit, they should be just as aware of the opportunities in select U.K.-based businesses.
Will emerging markets stocks rebound in 2019? Attractive valuations, strong forecast earnings growth, structural reforms, and an abating dollar headwind suggest they will.
It appears the “Powell Put” has been exercised as the Fed chief declares no “pre-set” course on rates and no “hesitation” to change its balance sheet runoff. But does the economy still need Fed accommodation, or do markets just want it?
The U.S. Federal Reserve has roiled markets with its latest rate hike and comments from Chairman Jerome Powell, who disappointed many investors as insufficiently dovish in his December 19 remarks.
The trade conflict and Fed rate policy are buffeting markets at a time China was already grappling with debt challenges at home. But the volatility may be masking good economic fundamentals globally, reform efforts in China, and attractive investment opportunities.
Conventional market wisdom two years ago didn’t look right for long, as gains in industries seen as politically favored faded while one sector expected to suffer quickly rebounded.
Positive catalysts are in place in all three countries, and across emerging markets valuations and earnings expectations make for a potential rebound in 2019.
Preparations ahead of a hurricane and rebuilding after it temporarily boost tax receipts in affected areas. But longer-term effects on muni markets are usually negligible.
Even before the market selloff, downtrodden value stocks were perking up as pricey growth stocks stumbled. But durable index-level shifts are harder to call than individual stock price disconnects from business fundamentals.
Deep declines are usually followed by rebounds that leave emerging market stocks with gains by year end, as the structural tailwinds are driven by steadily expanding middle classes. Meaningful, consistent exposures to the asset class are key to capitalizing on the long-run double-digit returns.
High-yield returns have been great lately, as technical flows, fundamental factors and good economic growth align. But tight spreads, lofty net leverage and event risk don’t make for smooth sailing ahead.
If the efficient markets hypothesis is questionable at the stock level, it’s more so at the index level. As the number of indices skyrockets, the number of companies declines, and passive flows grow, active price discovery becomes more and more valuable.
Turkish asset prices have plummeted this year, bringing their valuations to historically low levels. That presents potentially attractive opportunities to investors looking for quality stocks at bargain-basement prices. Yet some selloffs don’t necessarily end with stocks and bonds at oversold levels if their prices largely reflect current or near-term risks, both company specific and macroeconomic.
Emerging market stocks are trading near bear market territory, but that’s par for the course for longer-run, rising returns.
Many forces undercut and bolster the greenback. Rather than accepting unknown risk around its near- or long-term direction, dollar-based equity investors may be better served using currency hedges so they can focus more on the individual merits of overseas securities.
Team performance matters more than star players or a large resource base. And in a rapidly changing world, Totaalvoetbal can help teams adapt.
Risk to the euro resurfaces in an unlikely governing coalition and challenging economic agenda, but Italy’s top stocks don’t face the same perils as its government bonds.
High-quality bonds and defensive stocks are on the ropes. And U.S. blue-chips look poised to roll over, if history is any guide. But what if it isn’t?
