April 2016
On October 14, 2016, institutional prime money market funds (MMFs) must shift from constant net asset value (cNAV) to floating/variable net asset value (vNAV). This newsletter covers the change, including exemptions, expectations, and Marquette’s recommended actions for clients.
March 2016
Over the last five years, emerging market (“EM”) equities have struggled to keep up with their developed market (“DM”) counterparts. Losses were extended into 2015, when this asset class lost 14.9%. Given the poor performance, it is not surprising that emerging market equities currently offer the most attractive valuations. The S&P 500 and MSCI EAFE trade at roughly 7–10% above their ten-year averages while the MSCI EM index trades 17% below. Given these valuations, when should investors expect a pick-up in performance?
February 2016
In this latest Marquette Defined Contribution paper, we build on the similar themes of governance and evolving best practices by emphasizing that positive challenges lie ahead for trusted stewards of defined contribution plan assets; particularly, as defined contribution assets continue to grow, new types of DC plans emerge, best practices evolve, and an increasingly diverse population is gaining access to defined contribution plans. Consequently, those of us that are entrusted as fiduciaries have an opportunity to place segments of our country’s workforce on a steadier path towards retirement readiness.
January 2016
Similar to previous years, we offer our annual market preview newsletter. Each year presents new challenges to our clients, and 2016 is off to a volatile start with equity markets down significantly, oil dropping below $30, the Fed poised to further increase interest rates, and fears of a China slowdown rippling through the markets. However, other headlines will emerge as the year goes on, and it is critical to understand how asset classes will react to each new development and what such reactions will mean to investors. The following articles contain insightful analysis and key themes to monitor over the coming year, themes which will underlie the actual performance of the asset classes covered.
This video summarizes Marquette’s 2015 Investment Symposium on October 16, 2015, including the opening sessions and flash talks, which covered the current market environment, emerging investment themes and investment stewardship challenges in the year ahead. The new flash talk session format is designed to brief attendees on more popular topics in less time and encourage timely conversations with investment consultants.
Flash talk sessions discussed:
2015 Investment Symposium flash talk session
Flash talk by Kelli Schrade, CAIA, from Marquette’s 2015 Investment Symposium on hiring and firing investment managers — and why investors get it wrong.
2015 Investment Symposium flash talk session
Flash talk by Ben Mohr, CFA at Marquette’s 2015 Investment Symposium on the outlook for future bond market liquidity and potential implications.
2015 Investment Symposium flash talk session
Flash talk by Nat Kellogg, CFA at Marquette’s 2015 Investment Symposium on the future of hedge fund allocations.
2015 Investment Symposium flash talk session
Flash talk by David Hernandez at Marquette’s 2015 Investment Symposium on international headline risk from China to Greece.
2015 Investment Symposium flash talk session
Flash talk by Olu Rosanwo, CAIA, at Marquette’s 2015 Investment Symposium on making sense of oil and energy prices.
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