Sophisticated families are looking for new ways to positively affect their communities and the world. Learn the innovative approaches of six families achieving lasting impact in our world.
Despite reduced return expectations in 2020, municipals should remain a valuable building block of an investor's portfolio due to their attractive tax-adjusted yields, diversification benefits, and improving credit characteristics. For investors in high tax brackets, municipals are a great place to get it.
FOX Foresight keeps you up to date on our latest thinking about matters affecting Enterprise Families. It gives you our forward look on what we're learning from our members and subject matter experts. Please share it broadly with your family, your office, and your advisors. 2020 FOX Foresight is presented in 7 chapters:
The commodities market appears to be recovering, but will it continue to improve throughout 2020? Find out which economic factors will drive—or sink—the asset class.
Direct indexing has been called the ETF killer, ETF 2.0, and a catalyst that will bring an end to commingled investment vehicles. But to make proper use of all its benefits, the script must be flipped on the narrative of direct indexing to show not only the importance of customization but also that its value comes from understanding how and when to use it. There’s enormous potential for direct indexing to become a lot bigger than it is today. Find out whether it’s right for your portfolio.
Climate change occurs slowly over time, which may make it an easy risk factor for investors to ignore. Recent studies suggest that climate change will have a negative economic impact on long-term global GDP. Over the shorter term, investor concerns about global warming may be priced into their assessment of stocks and bonds. As with any long-term secular trend, climate change will likely result in both winners and losers.
Much of the trade conflict between the U.S. and China can be traced to China’s desire to be a technological power. It is difficult for China to do much more than play catch-up in established technology like semiconductors, where improvements are incremental. Still, emerging technologies such as AI, robotics, quantum computing, and next-gen IT infrastructure present greater opportunities for industry leadership. China is unlikely to cede its ambitions, suggesting there will be an altered landscape moving forward regardless of the trade war outcome.
As part of the investment review process, there is the identification of key areas of focus or themes that will drive investment returns over the immediate term. This quarterly update highlights market and economic considerations relevant in the context of enhancing risk-adjusted outcomes, beginning with evolving global growth dynamics.
Although climate risk is likely underestimated by financial markets, investors would be wise to consider it in their investment decision-making process. Given the expected future repricing of this risk, there is a window of opportunity for investors to get ahead of the curve. This paper provides a high-level overview of the current climate science and discusses a few economic implications.
The pursuit of forecasting what opportunities and obstacles lie ahead takes added importance when looking at a new year and new decade to come. What follows are some thoughts about the opportunities and challenges before us, along with the identification of significant trends that will guide our analysis and portfolio recommendations. In addition, this issue includes an explanation of a goals-based investing approach, updated performance for major asset categories, and key market events to watch.