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Despite the popularity of exchange-traded funds (ETFs), there are structural issues that make them less than ideal for many high-net-worth investors. A tax-managed separately managed account (SMA) may deliver the same diversified, index-like exposure while offering increased after-tax returns for these investors. The benefits can be substantial.

COVID-19 has pushed many healthy businesses into a distressed position where they find themselves needing to raise financing, restructure debt, or sell the business to survive. For private equity funds with dry powder—available cash—on hand, a strategic investment in those businesses are under consideration. However, an acquisition of a distressed business is often more challenging than a traditional Mergers and Acquisitions transaction from both a deal and tax perspective.

Between the slowing pace of payout cuts and changes in index yields, how much do income investors really need to worry about the rest of 2020. Investors who understand the data and the importance of diversification will adjust their views.

Buying local isn’t always the best strategy when investing in stocks. Here are three compelling reasons to consider investing beyond your home-country bias, which can have lasting negative impact on portfolios.

Layered beneath the difficulties of adapting to the challenges of the COVID environment, there are opportunities for family offices to capitalize on growth that line the path to sustained success. In this e-book of insights, learn how to help your family office move through the pandemic and thrive—from investment analysis and tax strategies to risk management and operational insights.

In recent years, global equities had slightly outpaced market forecasts for lower equity returns. Then the COVID-19 pandemic hit the global economy, putting an end to the 10-year bull market. Equity markets have started to recover, but the pandemic introduced and exacerbated challenges that are expected to subdue financial market returns over the next five years. Looking ahead, six key themes have emerged. They also identify the trends we see affecting the markets and economy.

The concept of equity hedging is straightforward, but structuring and implementing equity hedging programs can be rather involved. The challenge lies in determining how to structure a hedge to achieve the desired investment objectives. This paper raises awareness of some of the questions that investors should address when looking into their hedging goals.

Ahead of the U.S. presidential election, the Biden campaign has put forward four main tax policy changes worth analyzing, all of which involve an increase in taxes. What will it mean for portfolios and will it alter investors' decisions?

Against the backdrop of crisis and uncertainty, the 2020 U.S. presidential election presents key election issues pertaining to the economy. How will a potential Biden administration affect the economy and markets? An assessment of Biden’s proposed tax policies will show the expected impact. And if Trump wins, will it be the status quo and further refinement of the 2017 tax cut?

With the growing popularity of market-based or market-inspired solutions to addressing some of society’s biggest problems, philanthropy and private equity are no longer distant worlds. Today, the idea of venture philanthropy has become more widespread. How can donors—who are feeling the urgency of positive impatience—take a venture philanthropy approach?