Joyce Rosely

In this month’s First Eagle Alternative Credit update, Portfolio Manager and Senior Alternatives Strategist Larry Holzenthaler explains how repricing drove spread compression in 2024 and where the team is seeking relative value while keeping overall credit quality at fairly prudent levels. https://bit.ly/3DwAiiY

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In this month’s First Eagle Alternative Credit update, Portfolio Manager and Senior Alternatives Strategist Larry Holzenthaler explains how repricing drove spread compression in 2024 and where the team is seeking relative value while keeping overall credit quality at fairly prudent levels. https://bit.ly/3DwAiiY

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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

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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.

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From rate cut hopes to market turbulence: On TCW's latest #FocusOnFixedIncome podcast, Global Rates Co-Heads Jamie Patton and Bret Barker unpack the bond market's dramatic shift this year and analyze the Treasury's critical part in economic revival efforts with host Patrick Moore. Listen:

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It‘s exciting to see Broadridge's President, Chris Perry, leading an engaging discussion at the Tiburon CEO Summit, exploring the future of WealthTech M&A, alongside industry leaders. They shared insights into:  · Emerging trends influencing M&A  · The role of AI in wealth tech  · Consolidation · Actionable strategies to raise capital, or prepare for acquisition Thank you to Tiburon for hosting this discussion!  #WealthTech #MergersAndAcquisitions #CEOInsights #WealthManagement 

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An excellent reminder about the benefits of multi-manager investing from Megan Roach, CFA. Multi-manager, multi-style investing is not a new idea. It’s the way institutional investors, such as defined benefit (DB) plans, have been investing for decades. DB plans would never invest all their assets with one underlying investment manager – especially across asset classes, but not even within asset classes. This is a lesson learned long ago by many large defined contribution investment committees, and a strategy that should be considered by plans of all sizes. Happy National 401(k) Day! #National401kDay #401k #definedcontribution #DC #retirement #savings

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Compelling income opportunities supported by favorable fundamental and technical conditions continue to attract investors to #HighYield bonds and #Loans. Read the latest views from the team: https://ow.ly/W03130sF4WI #FixedIncome #Bonds #FloatingRateLoans

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What are the key factors impacting your portfolio in 2025? Join Capital Group’s Mike Gitlin and Jody Jonsson as they assess the evolving investment landscape and identify opportunities for the year ahead. bit.ly/41Xq3yj To earn 1 hour of #CEcredit for CFP and CIMA designations and receive materials, visit CapitalIdeasWebinars.com #CapitalIdeas Important disclosures: bit.ly/3PnuIlT

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What are the key factors impacting your portfolio in 2025? Join Capital Group’s Mike Gitlin and Jody Jonsson as they assess the evolving investment landscape and identify opportunities for the year ahead. bit.ly/41Xq3yj To earn 1 hour of #CEcredit for CFP and CIMA designations and receive materials, visit CapitalIdeasWebinars.com #CapitalIdeas Important disclosures: bit.ly/3PnuIlT

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What’s in store for fixed income? And what differentiates MFS’ approach? Discover our views on the current macro environment and the three characteristics essential to seeking alpha and meeting client expectations. bit.ly/4fCQIF1.

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December indigestion caused by the Federal Reserve's comments today? The S&P was humming along until the FOMC cut 25 bps as expected, and the changes to the statement were trivial (although the vote to cut wasn’t unanimous). Chairman Powell wasn’t a reassuring voice at this meeting, and the market’s confusion led to hawkish projections and speculations for 2025. The S&P 500 closed at the day's lows, -3%. Capital flow was heavy at 145%. Today's move lower in the stock market was significant. We’re below the 50-day moving average for the first time since September. We’re not oversold (yet), and we’re (only) back at mid-October levels. From a technical standpoint, the rest of December should be a race for the exits….but dip-buyers will (most likely?) do their thing. It's worked for the last 12+ years, so why stop now? Considering today’s drop is rooted in a market unprepared for a Fed that wasn’t gung-ho with spiking the punch bowl a lot more, it could mean that once investors relax and think, they won’t believe this is all that bearish. If that’s the case, watch for an enjoyable bounce back. In summary, the fundamental landscape isn’t radically altered; however, the emotional landscape temporarily is.

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We have just seen a further pullback in Fed policy expectations for 2024. What are the implications of higher for longer rates for credit investors? Read our Q2 2024 Credit Outlook for an in-depth analysis. https://ow.ly/3nlh50RfHAx

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