Services Tags: Investment Consulting

The Calm Before the Storm?

I spent the past weekend at my alma mater to watch them play their biggest rival. Football weekends there are filled with celebrations, traditions, and of course, tailgating. Saturday was a quintessential Midwestern day to be outside: sunny, low 70s, light breeze — no better conditions for food and drinks in the parking lot. About three hours before kickoff, however, massive thunderstorms rolled in which sent fans scurrying for cover and threatened to delay the game. For fans who hadn’t checked the forecast, they were ill-prepared to stay dry and enjoy the game as it rained for the duration of the match. Nonetheless, the stadium stayed full for the entire game, a testament to the home team’s performance as well as fan loyalty. That said, I saw plenty of cold and wet attendees in the concourse after the game — those who weren’t equipped for the conditions undoubtedly wished they had been better prepared for what the environment brought Saturday.

On my drive home Sunday, I couldn’t help but worry if as investors we find ourselves right where I was Saturday afternoon, wondering if the conditions were too good to be true for a mid-October day in the Midwest.

Patrick W. Wing Speaking at PSACC 2026 Spring Conference 4/22

On Wednesday, April 22, Patrick W. Wing, CFA, CIPM will be speaking at the Pennsylvania State Association of County Controllers’ (PSACC) 2026 Spring Conference in Harrisburg, Pennsylvania.

Pat will be presenting a session entitled, “Will U.S. Exceptionalism Continue for Global Equities?” The PSACC spring conference gives controllers, deputies, and their solicitors the opportunity to receive training on various topics related to the responsibilities of the controller’s office and county government. For more information, please visit the PSACC website.

2025 Investment Symposium

Watch the flash talks from Marquette’s 2025 Investment Symposium livestream on September 26 in the player below — use the upper-right list icon to access a specific presentation.

 

Please feel free to reach out to any of the presenters should you have any questions.

Marquette Speaking at Markets Group 2026 Midwest Institutional Forum 4/21–22

On Wednesday, April 22, Greg Leonberger, FSA, EA, MAAA, FCA, Frank Valle, CFA, CAIA, and James Torgerson will be speaking at the 12th Annual Midwest Institutional Forum hosted by Markets Group in Chicago.

On the 21st, James will be moderating the opening panel for the conference, “Portfolio Construction – Finding the Best Opportunities in 2026,” described as follows: Many are calling this a new investment era with opportunities for investors that have never been seen before. Market movements, fiscal challenges, the denominator effect, and revised globalization have all created unique opportunities for investors who go well beyond the traditional 60/40 portfolio construct. Join our panel of experts as they aim to answer several key questions, including:

  • What will a “diversified” portfolio look like in 2026? And what will it look like over the next 5-10 years?
  • How are investors approaching portfolio construction and allocation decisions in the current landscape?
  • Where do they see opportunities across asset classes and sectors, and how is this impacting their decision-making with new and existing managers?

On the 22nd, Greg will be moderating the Opening Panel Discussion: Navigating Markets in 2026: Investment Strategies and Macroeconomic Outlook. Investors are faced with the imperative challenge to construct resilient portfolios in the face of economic shifts and market volatility. The panel will shed light on the current macroeconomic landscape, providing insights into global economic trends and their potential impact on various asset classes. From equities and fixed income to alternative investments, our experts will share their perspectives on where opportunities lie and the potential pitfalls to avoid in the pursuit of optimal asset allocation.

That afternoon, Frank will be joining a panel entitled, “Fixed Income: Trends Shaping Today’s Landscape,” described as follows: Federal Reserve rate cuts are undetermined, but what will result from the Federal Reserve’s balance sheet and the U.S. Government’s borrowing needs? Given this precarious moment in time, investors are left wondering what role bonds should play within their portfolios. This panel will aim to answer such key questions as:

  • How are investors strategizing around rate movement in 2026?
  • How quickly will the Fed reduce its balance sheet and for how long?
  • How is the liquidity in the bond market and what is the impact on fixed income portfolios?

The Midwest Institutional Forum brings together institutional investors, consultants, and industry experts from across the Midwest. For more information, please visit the event website.

Jessica Noviskis Speaking at Foundation Financial Officers’ Group 2026 Spring Meeting 4/16

On Thursday, April 16, Jessica Noviskis, CFA spoke at the Foundation Financial Officers’ Group Spring Meeting in Chicago.

Jessica participated in a panel with fellow investment professionals entitled, “The International Equity Markets Woke Up! Now What?” described as follows: This panel discussion will delve into what caused the international markets to wake up in 2025 after years of lagging the U.S.; is this resurgence sustainable; what can institutional investors do to execute on this; and what are the investment opportunities?

The Foundation Finance Officers’ Group is a dedicated professional network for the highest level financial and investment positions at the largest foundations in the U.S. and abroad. For more information, please visit their website.

Jessica Noviskis Featured on Bloomberg Surveillance 4/10/26

Portfolio Strategist Jessica Noviskis, CFA was featured on Bloomberg TV’s Surveillance coverage on April 10, 2026.

Jessica discussed the publication of March CPI data that morning and the week’s announcement of a ceasefire in Iran, including the outlook for interest rates at the Fed’s meeting later this month, lingering positivity among investors through bouts of volatility in recent years, expectations for the re-opening of the Strait of Hormuz, and the impact of the war on energy prices and ultimately on company earnings.

Watch the segment on Bloomberg’s website or YouTube channel.

 

The opinions expressed herein are those of Marquette Associates, Inc. (“Marquette”), and are subject to change without notice. This material is not financial advice or an offer to purchase or sell any product. Marquette reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs.

Marquette Speaking at Titan Investors 2026 Chicago Institutional Exchange 4/8

On Wednesday, April 8, Dave Smith, CFA and Greg Leonberger, FSA, EA, MAAA, FCA will be speaking at the 2026 Chicago Institutional Exchange hosted by Titan Investors.

In the morning, Greg will be moderating a panel entitled “Megatrends in a Transforming World — Investing for Resiliency,” and in the afternoon, Dave will be moderating a panel entitled “The Convergence Between Public and Private Markets.”  The Institutional Exchange will bring together institutional investors, consultants, and asset managers in the region for a mix of workshop roundtables, panels, and networking. 

Titan Investors is a boutique consulting firm that connects asset allocators and investment managers to share ideas, build relationships, and drive business in a focused environment. For more information, visit their website.

The Impact of Artificial Intelligence on Markets

Over the last several decades, artificial intelligence (“AI”) has evolved from a theoretical concept into a transformative force across a variety of industries. The 1940s saw the advent of the digital computer, which was followed years later by the first artificial neural network, a computational model inspired by the structure of the human brain that consists of algorithms that attempt to recognize relationships in data. In more recent years, researchers have developed “deep learning” systems (i.e., neural networks with many layers) capable of increasingly complex tasks including image recognition, reading comprehension, and predictive reasoning. Given the advances in the space, it should not come as a surprise that the use cases of artificial intelligence are now vast, with AI tools now implemented across fields including health care, retail, finance, and entertainment. Researchers and corporate executives are not the only ones to have noticed the remarkable potential of AI, however, as investors have flocked to the space in droves over the last several years.

This newsletter outlines the growth of AI as an investment theme, including performance, valuations, and earnings growth of AI-related companies and equities, other segments of the market that may stand to benefit from advances in AI, and potential risks for investors.

Alternatives in Defined Contribution Plans

On August 7, 2025, President Trump signed an executive order to expand alternative investment access in defined contribution retirement plans (e.g., 401(k) plans). This order instructs the Department of Labor (DOL) to reexamine its guidance to plan sponsors incorporating alternative investments into these types of retirement plans. According to the order, the six classes of alternative assets included are:

  • Private markets investments, including private equity and private debt
  • Real estate
  • Actively managed vehicles investing in digital assets
  • Commodities
  • Infrastructure
  • Lifetime income strategies, including longevity risk-sharing pools

Nat Kellogg Speaking at Nasdaq eVestment 1Q26 Institutional Trends Quarterly Webcast 3/17

On Tuesday, March 17, Nat Kellogg, CFA will be joining Nasdaq eVestment’s quarterly Institutional Trends Webcast.

Nat will be providing consultant commentary alongside Russell Elliott, Nasdaq eVestment’s Head of Asset Management, Market Intelligence, and Yanni Angelakos, Nasdaq’s Head of Investment Insights, Capital Access Platforms. The three will share their perspectives on the latest investment trends shaping 2026 strategies, allocations, and exposures, exploring:

  • How recent performance outcomes are shaping allocator perspectives
  • Where market momentum is translating into real capital movement
  • What investor and consultant research activity reveals about sentiment and priorities
  • Manager-search and fundraising signals emerging this quarter

For more information and to watch the replay, visit the event webpage.