Gargi Pal Chaudhuri

When fundamental value creation becomes the largest driver of performance, investors may want to go where it’s always mattered most. Learn why we believe the U.S. middle market will continue to provide an attractive opportunity set versus large and mega cap managers in this new article. https://bit.ly/4cvujHe #PrivateEquity #MiddleMarket

3

My colleague, Roger Burkhardt, recently spoke with RTInsights about how Broadridge has implemented and used GenAI to increase employee productivity and better serve our clients – from automating meeting transcriptions to email processes. Roger shares the value derived from GenAI applications and how the tool's widespread adoption has been used to benefit different user groups and workflows with human-centric adaptions. Read more of his thoughts about GenAI. http://spklr.io/6041auVL #GenAI #DigitalTransformation #AI #Data

1

1 Comment

Check out the Q2 2024 Business Cycle Update from my colleagues on Fidelity's Asset Allocation Research Team: https://bit.ly/4dgaMeP Many major economies, including the U.S., remained in the late-cycle expansion phase and registered hints of stabilization and even reacceleration in some areas. Expectations of monetary easing have contributed to improving global financial conditions, and worldwide manufacturing activity has firmed. China remained an outlier, as it continued to ease policy in hopes of reaccelerating from its growth slump.

5

Thanks to Private Equity International and my fellow panelists (Vera Ningye; Steven Dunne; and Cornelius Mueller) for a important discussion today on Adapting to new technology and AI at the PEI CFO Funds Forum in London. #statestreet #statestreetalpha

48

2 Comments

Interesting article from Douglas Appell in Pensions & Investments about the post-ZIRP, “higher for longer” interest rate environment that boils down to advocating for the pursuit of satisfactory investment outcomes that are relevant to asset owners’ actual spending needs and goals, rather than continuing the historically common practice – and expected future folly – of tethering one’s equity beta to that of an equity benchmark whose performance from today’s elevated levels is widely expected to be sluggish and insufficient to fund minimum liabilities (ie: payout rates, actuarial hurdles, spending goals, etc.).   Quoting the inimitable Ben Phillips, “In that world, the relevant benchmark becomes the client’s required cash flows.”   Fresh perspectives and new ideas are warranted. Satisfactory outcomes not benchmarks.

4

In a recent Top of the Morning podcast, Paul H., Daniel Cassidy, and I discussed our recent report assessing the likelihood of a "Roaring '20s" scenario for the US economy. We touched on what the scenario looks like, the key drivers for it to happen, how policy is a wildcard that could make the scenario more or less likely, and general investment implications if it were to happen. Listen to the podcast for all the details. #shareubs https://lnkd.in/eTrGnzCv

11

Securitized credit has consistently offered undervalued opportunities in this market cycle. Here, my colleague Kyra Fecteau, CFA shares how macro research and in-depth analysis of securitized sectors' varied market dynamics and collateral characteristics inform her construction of securitized allocations in diversified fixed income portfolios.

4

GOATs of Investing. 🐐     Mario Gabelli and John Catsimatidis are two exceptional leaders, investors, and entrepreneurs (and native New Yorkers) who have not only delivered remarkable returns but also built enduring enterprises through thoughtful capital allocation, differentiated long-term insights, resilience, and conviction.     It was a privilege to hear fellow Bronx native Mario Gabelli, Founder & CEO of Gabelli Funds rejoin John Catsimatidis, Founder & CEO of Red Apple Group, for another engaging discussion on the #1 Sunday show, #TheCatsRoundtable on 77 WABC Radio.     Their conversation covered critical topics including the U.S. economy, market strategies, and the outlook as we head into 2025, particularly in the context of post-election dynamics.     Mario also shared insights on his position as the largest shareholder of voting stock of Paramount. He recently urged the Federal Communications Commission to pause its review of the transfer of broadcast licenses related to Paramount’s proposed merger with Skydance and RedBird Capital Partners—a development recently highlighted in New York Post and Barron's.     This insightful conversation originally aired on Sunday, November 24, on New York’s #1 rated station, 77 WABC Radio, owned and operated by Red Apple Group.     Interview Link:   https://lnkd.in/eCaxdJPR     #Investing #MarioGabelli #JohnCatsimatidis #FinanceLeadership #EconomicOutlook #Paramount #Skydance #TheCatsRoundtable #WABC #LongTermThinking #Stocks #Bonds #Markets #2025investing #RedAppleGroup #WABC770 #NYPost #Barron's #media

57

1 Comment

Our recent paper “Managing the Total Portfolio: An Integrated Approach” sets out how Mercer thinks about managing capital effectively. In contrast to some recent industry commentary, at Mercer we don’t think clients should abandon strategic asset allocation as a fundamental part of the investment process. We believe: -         Clear identification of investment objectives should be the first step in managing the total portfolio. Clients care about different risks, so a key part of this process is identifying the risks that matter most. -         Asset classes consist of different combinations of underlying factors. Establishing the right factor mix that is optimal to deliver the investment objectives is a critical part of total portfolio management. -         Defining the optimal factor mix in asset class weights, and communicating this as the strategic asset allocation, is easier to understand and more implementable in practice. Crucially, communicating this way does not mean being constrained by asset class categorizations. -         Managing capital effectively involves a range of distinct tasks that require specialist skills. These tasks include SAA, manager selection and dynamic asset allocation. -         Bringing together specialists to accomplish a range of roles requires coordination in the form of a robust governance structure that incorporates total portfolio oversight and risk management. -         Ultimately, we believe the benefits of specialisation outweigh the additional co-ordination challenges this approach brings.   -         Cultural alignment and clear accountabilities both contribute to the effectiveness of the whole. Please take a read and let us know what you think! Michael Cross Nathan Struemph Niall OSullivan https://lnkd.in/eBwknEub

73

1 Comment

Great insights from my colleagues, Alisa Wood and Chris Harrington, on the key drivers behind private equity's long-term out performance relative to public markets. Plus, they share perspectives on the future -- give it a read here: https://go.kkr.com/3YIAjr1

4

Wondering what's on the horizon for 2025? Tune in to hear Fidelity's asset allocation and global macro specialists Dirk Hofschire, Collin Crownover, Cait Dourney, and Jake Weinstein cover: ☑️ An outlook on U.S. and global economies and corporate earnings ☑️ How fiscal policy debate could play out in the U.S. post-election ☑️ A go-forward look at U.S. monetary policy, inflation and interest rates Register today: https://bit.ly/3PriKYm

3

Andrew Guillette, Broadridge's VP of Global Insights, recently discussed findings from our latest U.S. Investor Study on "MoneyLife with Chuck Jaffe." The study of 43 million investors highlighted a growing interest in self-directed investing across all age groups, identifying a trend of investors seeking greater control by maintaining both advisory and self-directed accounts. Download pages from the U.S. Investor Study 2024 here. http://spklr.io/6046vrwY #InvestmentTrends #SelfDirectedInvesting

1

For insight on the mid-cap space, check out this video featuring Boston Partners' Tim Collard, portfolio manager of John Hancock Disciplined Value Mid Cap Fund: https://lnkd.in/eK7u6DMW Learn more about John Hancock Disciplined Value Mid Cap Fund (JVMIX): https://lnkd.in/eVN7UdjB #JohnHancockProduct #ActiveManagement

8

Wellington Management is thrilled to have been named “LDI Manager of the Year” (mega category) by @CIO Magazine as part of their 2024 Industry Innovation Awards program. Director of Corporate Pension Strategies Ryan Randolph was honored to accept on behalf of our LDI team at the Awards ceremony in NYC. Learn more about this accomplishment and the Awards program here: https://lnkd.in/eRfRpwhT Wellington Management did not pay a fee to be considered for this award. Winners were selected by CIO Magazine after reviewing written submissions. The award winners were announced on December 10, 2024, a two-part submission was made on September 19, 2024 and was judged based on written responses about Wellington’s liability-driven investing business. Wellington Management was the only winner in the LDI (mega) category, which was judged based on CIO Magazine’s criteria. The award may not be representative of any one client’s experience. The award is not indicative of Wellington Management’s future performance. Past performance is no guarantee of future results. #LDI #CorporateDB #pensions

80

10 Comments

Wellington Management is thrilled to have been named “LDI Manager of the Year” (mega category) by @CIO Magazine as part of their 2024 Industry Innovation Awards program. Director of Corporate Pension Strategies Ryan Randolph was honored to accept on behalf of our LDI team at the Awards ceremony in NYC. Learn more about this accomplishment and the Awards program here: https://lnkd.in/eZhpVE3v Wellington Management did not pay a fee to be considered for this award. Winners were selected by CIO Magazine after reviewing written submissions. The award winners were announced on December 10, 2024, a two-part submission was made on September 19, 2024 and was judged based on written responses about Wellington’s liability-driven investing business. Wellington Management was the only winner in the LDI (mega) category, which was judged based on CIO Magazine’s criteria. The award may not be representative of any one client’s experience. The award is not indicative of Wellington Management’s future performance. Past performance is no guarantee of future results. #LDI #CorporateDB #pensions

4