Separately Managed Accounts

Investors often debate the merits of value versus growth investing, but when it comes to developed international equities, the conversation isn't static; it moves in cycles.

How recent market volatility has contributed to a sharp reversal in global equities.

Emerging markets offer the potential for long-term diversified investment returns but they can endure challenging periods of volatility and uncertainty. Head of Portfolio Strategy David Dali maps out the issues to consider when constructing and managing a portfolio for emerging markets.

Green bond issuers tend to excel at reducing greenhouse gas emissions, per a Bank for International Settlements study.

It's been full steam ahead for active ETFs, with total assets now rapidly approaching the $1 trillion milestone.

One of the textbook drivers of alpha is an information edge. Having more information, advanced ways to use that information, and the ability to react to it before anyone else has been a massive advantage throughout the history of markets.

The 60/40 portfolio, where 60% is invested in stocks and 40% in bonds, is the initial starting point for many portfolios. The exact asset mix is often adjusted based on an investor’s time horizon, risk tolerance, and financial goals, but the simple, proportional stock-bond combination is what is often considered a “balanced” portfolio.

In today’s rapidly evolving financial landscape, advisors are expected to be more than just portfolio managers. Clients don’t just want investment recommendations—they seek a trusted partner who understands their financial needs, offers strategic guidance and provides peace of mind during turbulent times.

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?

As the consumer goes, so goes the U.S. economy. Consumers make up roughly 70 percent of U.S. GDP.

Parametric’s tax optimized ladders (TOL) solution may help to enhance after-tax yield by seeking to optimize the allocation between tax-exempt and taxable bonds, based on an investor’s own tax rate and the relative value between sectors.

The EV shakeout is underway. When the dust settles, only a few players will remain. Many more will be relegated to the scrapyard of failed ambitions.

Unlike most of the rest of the world, I will attempt to minimize all there is to say about the beginning of the next 4 years, as the persistent yack and what to make of it reverberates in all corners of the financial globe.

While investors were fixated on inflation data Friday, the most significant surprise came from the advanced trade balance, which posted an unprecedented $37 billion deterioration

We wrote in last month's letter that the U.S. stock market had to meet lofty earnings expectations to maintain its strong performance relative to global benchmarks, while the latter had a lower bar because of considerably cheaper valuation multiples and higher dividend yields.

Russ Koesterich discusses the risk of higher interest rates and the potential impact (both positive and negative) such a move could have on markets.

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

The managed account industry has seen tremendous growth and client adoption, with assets increasing by 28% over the last year and 50% over the past two years.

Chief Investment Officer of Global Asset Allocation, Anwiti Bahuguna, Ph.D., outlines the investment themes and return expectations from our new 10-year outlook.

Long maturity treasuries can provide downside protection to offset equity risk, in our view.

At the start of each new year, there are regular predictions that international equity markets will outperform U.S. large-cap ones.

The DeepSeek blip notwithstanding (our initial take on the news is here), January 2025 was a good month for financial markets. The S&P 500 was up a robust 2.7%, though Nasdaq lagged (largely due to DeepSeek, in our opinion) with “only” a 1.7% monthly return.

In this article, Russ Koesterich discusses why gold may continue to advance in 2025 despite a stronger dollar and elevated real rate environment.

The higher yields they currently offer can be a benefit for income-oriented investors, but those yields reflect the additional risks they face.

Equity markets are facing a variety of headwinds, but the economy remains strong, and we believe there will be ample opportunities to invest in attractively valued quality growth companies in 2025.

In this article, we will demonstrate how the use of daily options within a covered call strategy has the potential to generate substantial income while also targeting the total return of equities.

For stocks, Christmas came with a 'Santa Clause' rally soon after the election. Since then, there's been a correction in US markets.

We explore how advancements in indexing solutions have allowed investors to tailor their portfolios according to their specific objectives or risk profiles.

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

While stocks can move higher, the bond market will continue to matter. Higher rates suggest that equity leadership may continue to reside in companies that are relatively rate insensitive.

For this edition of Bull vs. Bear, the VettaFi writers debate the case for using sector ETFs to make bets on the new market regime.

Friday’s rip-roaring jobs report has pushed the betting markets to price in a single rate cut for the entire year of 2025.

Ten years ago, Research Affiliates launched the Asset Allocation Interactive online tool, making our CMEs freely available to the public. With one full cycle complete, we can see what has worked well and where we can improve.

Every new year brings with it a new opportunity to stop for a moment, revisit resolutions, and refresh outlooks.

While the market has largely moved past that year’s recession debate, it’s worth noting that the traditional definition that persisted for all our careers—two consecutive quarters of negative GDP growth—did occur in the first half of 2022.

In our year ahead outlook, we unveil 5 key factors we believe offer rare certainty in these uncertain times. Discover how we’re navigating this landscape and positioning portfolios to seize opportunities and mitigate risks in the year ahead.

For 2025 and beyond, a few particular global and industry trends can offer attractive long-term returns for advisors and investors alike.

Three interconnected lessons from 2024 help shape our 2025 outlook.

After a strong November 2024, markets were generally down in December. The S&P 500 index was down 2.3%, while energy, small caps, value stocks, and REITs performed considerably worse.

In an actively managed portfolio, there’s no way to escape capital gains taxes altogether. But understanding the importance of tax efficiency is crucial to long-term success for investors and advisors.

Why cyclical leadership in equities could continue into 2025.

At the time of year where everyone is reflecting on the things that matter most to them in their personal lives, it is important to also consider what matters when it comes to investing. In this investment commentary, Johnson Financial Group shares what really matters as you put your money to work.

A conversation with our stock selection team, part two.

Newly released research from State Street Global Advisors breaks down why financial advisors are embracing model portfolios more this year.

The transition from bank-dominated lending to a diversified financing ecosystem offers unprecedented opportunities for private credit investors.

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.

CEO Ali Dibadj highlights the three macro drivers that investors must navigate in 2025 and beyond, as well as the importance of actively positioning for a brighter investment future.

Historical trends are being permanently broken in real time as mega forces, like the rise of artificial intelligence (AI), transform economies.

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

Will the Fed make one more rate cut to end 2024? One more cut would top off what has been a very positive fall for rate cut hopefuls considering how long the Fed waited.

We launched QuantStreet a little over three years ago, and our first accounts went live as of December 2021.

We compare investor risk-taking behaviors at the start of the bull market with those nearly 16 years later. We also analyze key market areas that can offer essential diversification to help manage overall portfolio risk.

When it comes to personalized investment strategies, multiple perspectives come into play: the client, the provider and the advisor.