Fw: June 11, 2014 - Special Report on Multi-Asset Investing -- Part 1

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From: "NYSSA SmartBrief" <nyssa@smartbrief.com>

Date: Wed, 11 Jun 2014 13:02:48 -0500 (CDT)

To: <mainandwall@aol.com>

Subject: June 11, 2014 - Special Report on Multi-Asset Investing -- Part 1

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June 11, 2014 Sign up | Forward | Archive | Advertise Introduction  Special Report on Multi-Asset Investing -- Part 1 Welcome to Part 1 of this NYSSA SmartBrief Special Update on Multi-Asset Investing. Today we look at investment strategies being put to use by asset managers, survey your views on issues affecting the industry and review regulatory news that stands to have a tremendous impact on how asset managers conduct their business. Part 2 of this Special Report, scheduled to hit your inbox Thursday, will feature a Q&A with Roger Sadewsky, portfolio manager at Standard Life Investments. We will also review the results from today's survey questions and share best practices that can help you manage your business. Investment Strategies  VIDEO: Volatility is the only asset class that looks cheap Volatility is the most promising asset class available today from the perspective of multi-asset investment, said Guy Stern, head of multi-asset and macro investing at Standard Life Investments. "The most attractive asset class is volatility itself," Stern said. Volatility is the only thing that "feels really cheap," he said. Bloomberg Businessweek (5/8)      Alternative investments may be absorbed into multi-asset portfolios The term "alternative asset" may disappear as investors combine traditional stocks and bonds, publicly traded and private investments, liquid and illiquid products and alternative asset classes into multi-asset portfolios, fund managers say. As the lines between different asset classes blur, traditional benchmarks are being set aside. Pensions & Investments (free access for SmartBrief readers) (6/9)      Survey: Advisers worried about asset allocation, interest rates Portfolio management and the consequences of higher interest rates are becoming bigger issues for advisers, according to a survey by Fidelity Investments. Investment allocation, including the broader issue of portfolio management, was the top concern of 25% of advisers participating in the survey in March. Almost 20% of advisers said rising interest rates were their biggest worry. InsuranceNewsNet online (5/27)      Institutional tax-exempt assets surpass pre-crisis peak An increased appetite among investors for target-date funds and infrastructure assets, low volatility and strong equity markets have driven institutional tax-exempt assets under management by the largest 500 managers above their pre-financial-crisis peak. Assets were $13.22 trillion at the end of 2013, up 13.9% from the end of 2007. Pensions & Investments (free access for SmartBrief readers) (5/26)      Derisking of corporate pension plans proceeding slowly Improved funding is opening the door for more corporate pension plans to implement derisking strategies. But plan sponsors are moving toward fixed-income investments slowly. Michael Moran, a pension strategist at Goldman Sachs Asset Management, said some plans are taking the position that "rates are going to move higher and therefore why do I want to buy fixed income today? I'd rather wait this out." Pensions & Investments (free access for SmartBrief readers) (5/26)      Reader Survey  Should the Financial Stability Oversight Council designate some asset managers as systemically important financial institutions? Yes No Have you ever used multi-asset strategies in your investment portfolio? Yes No Regulatory Roundup  FSOC examining options for asset managers, Treasury official says The Financial Stability Oversight Council is considering several possibilities for addressing possible risks posed by the asset-management industry, says Mary Miller, U.S. Treasury undersecretary for domestic finance. One option is to take no action, Miller said. The industry is concerned that certain asset managers might be designated as systemically important financial institutions, which would subject them to tougher regulations. Reuters (5/20) , Market News International (5/19) , The Wall Street Journal (tiered subscription model)/MoneyBeat blog (5/19) , Financial Times (tiered subscription model) (5/20)      SEC's White: Asset managers justified in worries about systemic label Asset managers have every right to be concerned about potential fallout from being designated as possible sources of "systemic risk" to the U.S. financial system, Securities and Exchange Commission head Mary Jo White said at an industry conference. "I don't think you are overreacting to the process," White said. Bloomberg (5/23)      Asset managers well-positioned to challenge SIFI designations Jurisdiction is the key point of potential challenge for asset managers seeking to avoid designation as systemically important financial institutions, Zoe Thomas writes. For that purpose, litigation may be the best route, contesting the authority of the Financial Stability Oversight Council to assign such status. International Financial Law Review online (6/3)      Asset managers strive to head off additional regulation Regulatory efforts to designate major asset managers as systemically important financial institutions are being challenged by the industry. Financial Times (tiered subscription model) (5/20)      Watch out for these potential policy changes Jamie Hopkins of the American College's New York Life Center for Retirement Income says good retirement plans could be ruined by possible three policy changes: establishing required minimum distributions for Roth IRAs, placing a cap on the wealth held within an IRA and new "claiming strategy" regulations that reduce Social Security benefits. Forbes (6/4)      FINRA plans 2015 launch of data-collection system The Financial Industry Regulatory Authority expects to put the Comprehensive Automated Risk Data System into operation next year, CEO Richard Ketchum says. The mammoth data-collection program has drawn opposition from brokerages and financial-services organizations. CARDS will be rolled out in stages if approved by the Securities and Exchange Commission, Ketchum says. Reuters (5/20) , The Wall Street Journal (tiered subscription model) (5/20)      Thought Leadership  El-Erian: Don't overlook behavioral finance in the bond market Experts who focus exclusively on rates and yields to understand the bond market are destined to come to the wrong conclusions occasionally, writes Mohamed El-Erian of Allianz. "[I]t's important to recognize that the application of simple economic principles to markets has to be combined with a good understanding of behavioral finance and institutional realities," El-Erian writes. "Otherwise, what 'should happen' ends up testing the patience and agility of many." Bloomberg (5/27)      Upcoming Events  NYSSA Investment Strategy Roundtable® -- June 19 The NYSSA Investment Strategy Roundtable® meets monthly to discuss topics important to all market participants. Whether it's debating the eurozone sovereign outcome, movements in rates and currency markets, China hard landing fears or digging into details on volatility strategies and discussing market technicals, you'll be sure to find a fresh perspective from joining our discussion. Guided by a formal cross-market agenda and slide deck, the group traverses topics from a macro perspective, drilling down into specific areas of interest to our group's portfolio managers, traders, analysts and academics. The roundtable's composition is quite diverse, which ensures a lively interaction that is guaranteed to both educate and challenge you and bring to light myriad useable trading strategies.      Portfolio Optimization and Efficient Frontier Modeling -- June 24 and 25 Current tough market conditions require an understanding of how to maximize your portfolio returns. Explore and model portfolio optimization techniques in the efficient frontier and risk/reward trade-off. Who should attend? Portfolio managers, risk arbitrage and risk management professionals, analysts, advisers and anyone wishing to further their understanding of portfolio optimization.      Editor's Note  Watch your inbox Thursday for Part 2 of this Special Report          Product announcements appearing in SmartBrief are paid advertisements and do not reflect actual NYSSA endorsements. The news reported in SmartBrief does not necessarily reflect the official position of NYSSA.   This SmartBrief was created for mainandwall@aol.com   Subscriber Tools     Update account information  | Change e-mail address  | Unsubscribe  | Print friendly format  | Web version  | Search past news  | Archive  | Privacy policy Advertise Account Director: Abiy Bekele (919) 931-5915   Read more at SmartBrief.com Industry Home Readers' Choice Search Archive Grab our News Widget Publish your Press Release       Recent NYSSA SmartBrief Issues: Tuesday, June 10, 2014 Monday, June 09, 2014 Friday, June 06, 2014 Thursday, June 05, 2014 Wednesday, June 04, 2014     Editor: Sean McMahon Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004     © 1999-2014 SmartBrief, Inc.® Legal Information