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  • Jul
    10
    2014

    Second Quarter 2014 Market and Performance Update

    Uneven worldwide economic growth has resulted in global monetary policy at various stages of ebb and flow. Global inflation pressures may begin to weigh on accommodative central banking. Most developed-market equities continue to see earnings growth. A turnaround in Europe is one of the keys to global market performance in the months ahead.

    [... More]

  • Jul
    7
    2014

    Radio: Sean Simko Addresses How Central Bank Policy Changes Affect Bond Markets

    Sean Simko, managing director of SEI Fixed Income Portfolio Management, discusses how central bank policy changes affect bond markets and factor into fixed income investment decisions. [... More]

  • Jul
    7
    2014

    Economic Outlook: And the Music Plays On

    Equity markets are sitting at record highs and bond markets continue to defy gravity. The big question should be obvious: how much longer can it last?

    While developed market equity valuations are somewhat elevated and credit spreads narrow, we think it’s premature to adopt a strongly defensive investment stance. The global economy continues its slow recovery process, and there has rarely been a time when the world’s central banks have been as active in their efforts to support economic recovery and growth as they are presently.

    [... More]

  • Jul
    2
    2014

    Japan: Value Trap or Opportunity

     Japanese equity markets have stalled following a strong rally in 2013. The short-term outlook for Japanese equities is generally positive, but faces challenges. We are optimistic on the long-term prospects for Japan and are evaluating the opportunities.

    [... More]

  • Jun
    25
    2014

    Investment Fundamentals: Interest Rates

    Interest rates represent the cost to borrow money. [... More]

  • Jun
    20
    2014

    Video: Federal Open Market Committee Meeting June 2014

    Sean Simko. managing director of SEI Fixed Income Portfolio Management, comments on the most recent meeting of the Federal Open Market Committee, or FOMC, including the release of the Committee’s statement and the market’s initial reaction. [... More]

  • Jun
    18
    2014

    Investment Fundamentals: Inflation

    Inflation measures the price change of a basket of goods and services over time. Rising prices can erode consumer purchasing power, so investors should account for inflation in their plans. Central banks seek to target low-expected inflation by adjusting benchmark interest rates. [... More]

  • Jun
    16
    2014

    Video: Sean Simko's May 2014 Commentary

    Sean Simko of SEI’s Investment Management Unit discusses May performance, including the fall in interest rates and bond prices increasing. [... More]

  • Jun
    6
    2014

    May 2014 Monthly Market Commentary

    Economic growth showed measured improvement globally, and inflation remained below target in most regions. Most major bond markets—U.S., U.K., Japan and the eurozone—saw government bond yields fall, while global equity markets were again positive. While not as robust early in 2014 as they were last year, we believe equities have held up quite well in the face of political tensions and emerging-market growth concerns. [... More]

  • May
    14
    2014

    Podcast: Sean Simko on the April 2014 Federal Open Market Committee Meeting

     Sean Simko weighs in on the recent FOMC meeting, including the release of the Committee's statement and the market's initial reaction.

    [... More]

  • May
    7
    2014

    April 2014 Monthly Market Commentary

    Economic growth remains mixed across the globe, and inflation was tame in most regions. Most major bond markets—U.S., U.K., Japan and the eurozone—experienced a modest decrease in government bond yields. Global equity markets showed impressive resiliency and were again positive. While global equity markets have not been as robust early in 2014 as they were last year, we believe they have held up quite well in the face of political tensions and emerging-market growth concerns. [... More]

  • May
    5
    2014

    Russia - Balancing the Risks against the Realities

    Russian involvement in Ukraine’s political upheaval has escalated since the beginning of 2014, fostering a diplomatic conflict with Europe and the U.S. Developments on the ground in Ukraine indicate a complex and volatile situation that seems likely to persist for some time. For global investors, the situation shines a light on the constant need to assess a wide variety of risks while balancing them against long-term return objectives. [... More]

  • Apr
    16
    2014

    Video: Q1 2014 Global Economic Market Review

    The first quarter started off with significant declines in most developed markets. Much of February was spent regaining lost ground. By the end of March, slow economic improvement and ongoing central bank stimulus efforts helped equity markets close higher for the quarter. Despite the volatility, investors returned to the markets. [... More]

  • Apr
    15
    2014

    Video: March 2014 Monthly Commentary

    It was not a big surprise that the tone of the financial markets was driven largely by comments from the Federal Open Market Committee (FOMC) and newly appointed Federal Reserve Chairwoman Janet Yellen. [... More]

  • Apr
    11
    2014

    Video: March 2014 Payroll Report

    Overall, the March payroll report sends mixed signals. Although the headline jobs number points to growth, various components—such as hours worked and hourly earnings—depict a softer labor market. [... More]

  • Apr
    8
    2014

    First Quarter 2014 Market and Performance Update

    Optimism continued in advanced economies, while emerging economies faced multiple challenges. Easing of inflation pressures around the world should keep global monetary policies accommodative. Global equities reached positive territory by quarter end, while fixed income gained as interest rates generally fell. [... More]

  • Apr
    2
    2014

    An Economic Thaw, but a New Cold War

    Global stock markets bounced higher following a brief dip in the latter part of January, with the U.S. leading the way. The ability of equities to quickly overcome periodic stumbles (in the U.S. and other developed markets, at least) underscores investors’ willingness to assume risk even when economic and geopolitical uncertainties are on the rise. The fact that developed market equity pullbacks remain brief and shallow suggests that the rotation out of cash and fixed-income assets and into stocks is still very much in play. 

    [... More]

  • Mar
    27
    2014

    Winding Down Fannie and Freddie - What Impacts Could it Have?

    Recently, the Senate Banking Committee released draft legislation designed to reform housing finance in the U.S. It contained numerous proposals, including one that caught the eye of many investors—the winding down of government-sponsored enterprises Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation). For several reasons, we do not expect GSE reform to have a significant impact on investors in the short-to-intermediate term, nor do we expect it to have a noticeable impact on our strategies.

    [... More]

  • Mar
    13
    2014

    Podcast: February 2014 Payroll Commentary

    Payroll increases for February printed at 175,000, which was above expectations. This number could have been stronger, but the report was favorable overall. There were solid gains in both the construction and temporary help areas, rising by 15,000 and 24,000 respectively.

    [... More]

  • Mar
    10
    2014

    Video: February 2014 Monthly Commentary

    "Let's blame it on the weather" was not a good enough reason to account for mixed data from both the U.S. and China. The general optimism that economic growth would accelerate--welcomed and needed--may have been premature.

    [... More]

  • Mar
    6
    2014

    February 2014 Market and Performance Update

    Economic data remained mixed in the U.S., despite some positive forward-looking indicators. Ongoing strength was seen in the U.K. and Japan, along with pockets of both resilience and weakness in Europe. Global bond yields were generally steady in the month following a resetting of levels in January. Global equity markets strongly rebounded as investor optimism was particularly strong across European markets. With positive economic growth in Europe and solid earnings reports from U.S. companies, there is plenty of optimism that 2014 will be a decent year.

    [... More]

  • Mar
    3
    2014

    Escalating Turmoil in Ukraine

    The Russian-backed President of Ukraine has been ousted. Russia has significantly expanded its military presence in the Crimea region in southeastern Ukraine. SEI Funds have little direct exposure to Ukraine and modest exposure to Russia.

    [... More]

  • Feb
    13
    2014

    Podcast: January 2014 Federal Open Market Committee

    As time goes by, there are days that create a time stamp, marking a point in history. January 29th 2014 is one of those days. To many people it will be just a cold day in the midst of winter, but to those in the investment community, it marks the first FOMC meeting of the year and the transition from Chairman Bernanke to Dr. Janet Yellen.

    [... More]

  • Feb
    13
    2014

    Video: Bernanke Passes the Torch: A Change in Leadership but Probably Not Policy

    There is no question that Bernanke has made his mark, and key among them was his efforts to keep the U.S. economy afloat through three iterations of bond buying. There were also a variety of facilities crafted under his guidance to maintain market liquidity—the ease with which a holding can be bought or sold.—and keep the economy and financial markets working in an orderly fashion.

    [... More]

  • Feb
    7
    2014

    January 2014 Market and Performance Update

    The monetary policies of global central banks remain accommodative and are expected to continue as such, while global growth builds momentum. Concerns related to the U.S. Federal Reserve tapering of bond purchases, sustainability of corporate profits and Chinese output resulted in a pullback in global equities, while global fixed income gained. SEI does not believe the elements of a more serious equity bear market are in place. The most important drivers of stock-market performance in our framework are still flashing neutral-to-positive signals.

    [... More]

  • Jan
    28
    2014

    Volatility is...Normal

    Concerns surrounding the pace of Chinese growth, the impact of reduced quantitative-easing stimulus and the health of corporate earnings culminated in a sudden shift of investor sentiment last week. SEI is maintaining its favorable view of emerging equities, as we believe catalysts will materialize that should improve the outlook for the asset class. While emerging and developed equities have struggled out of the gate in 2014, we do not believe the elements of a more serious equity bear market are in place.

    [... More]

  • Jan
    17
    2014

    Video: December 2013 Monthly Commentary

    Most market participants endured a wild ride in 2013. Investors had to manage bouts of uncertainty, driven by a slowing global economy, choppy U.S. economic data and changes at the helm of the Federal Open Market Committee (FOMC). Talk of the Federal Reserve tapering its bond-buying program was also making waves, and municipalities had challenges of their own.

    [... More]

  • Jan
    14
    2014

    Video: Q4 2013 Global Economic Market Review

    In many ways, the fourth quarter was a near-mirror image of the third quarter, with economies in around the world showing signs of improvement. For the coming year, we are optimistic that the bull market in equities to continue. Global economic conditions are trending in a favorable direction albeit with smaller gains that seen in 2013.

    [... More]

  • Jan
    9
    2014

    Fourth Quarter 2013 Market and Performance Update

    Global central bank policies remained accommodative to close the year, even as the U.S. offered insight into a plan for reducing its economic stimulus efforts in the New Year. Led by developed markets, global equities experienced robust performance for the period, with positive results across all equity sectors. Rising yields kept global bond markets subdued. Government bonds lagged the rest of the fixed-income market.

    [... More]

  • Dec
    6
    2013

    November 2013 Market and Performance Update

    Accommodative monetary policies by most global central banks remain in place, with the European Central Bank taking additional steps to aid the eurozone’s recovery. Global fixed-income markets dipped, with emerging-market debt retreating much more than investment-grade bonds. Global equities generally gained, led by the traditional growth sectors of health care, information technology and consumer discretionary.

    [... More]

  • Nov
    7
    2013

    October 2013 Market and Performance Update

    Global central banks maintained accommodative monetary policies in an effort to stimulate economic growth. A temporary U.S. government shutdown did not derail the year-to-date rally in global equity markets. Global fixed-income and equity markets were positive for the month, with equity’s leadership supported by the rebound in emerging-market equities.

    [... More]

  • Oct
    16
    2013

    Video: October 2013 Monthly Market Recap

    The third quarter finished with increased volatility, as the nation moved closer and closer to a government shutdown. Fast forwarding a few days into the fourth quarter, the shutdown did occur. Both Democrats and Republicans dug their heels in and were unwilling to budge.

    [... More]

  • Oct
    8
    2013

    Third Quarter 2013 Market and Performance Update

    The quarter ended with the focus firmly on the U.S. and its upcoming fiscal negotiations. The global fixed-income and equity markets faltered in August, but gained for the quarter as a whole.

    [... More]

  • Oct
    2
    2013

    Third Quarter 2013 Economic Outlook: The Fed Goes Taperless

    The Portfolio Strategies Group recently released its third-quarter 2013 Economic Outlook. At the top of the list are the political games being played in Washington, DC over the 2014 fiscal-year budget, the debt ceiling and the spending sequester. 

    [... More]

  • Sep
    26
    2013

    Investment Fundamentals: Beta

    Beta is a measurement of relative volatility. This implies that the beta of an investment indicates how sensitive its price movement is, compared to the price movement of a given benchmark.

    [... More]

  • Sep
    13
    2013

    Do You Feel Stuck?

    This article describes the challenges of wealth and how individuals and families can overcome hidden obstacles to create the clarity necessary to make sound financial decisions with confidence.

    [... More]

  • Sep
    12
    2013

    Risk Parity: The Concept

    “Risk parity”—the concept of achieving diversification by sources of risk—is gaining wider attention. While there are numerous risks involved with investing, “risk,” as we refer to it in this paper, means volatility or standard deviation; it does not specifically encompass other sources of investment risk.

    [... More]

  • Sep
    10
    2013

    August 2013 Market & Performance Update

    Positive economic news this month was overshadowed by the upcoming fiscal year end and debt-ceiling debate in the U.S., the possibility of military intervention in Syria and emerging-market woes.

    [... More]

  • Aug
    9
    2013

    Commentary: Europe Failing To Do Its Part

    The U.S. and Japan are currently acting as the locomotives for a more general global expansion and Europe appears to be on the mend, but we feel the region is failing to do its part.

    [... More]

  • Aug
    7
    2013

    Investment Fundamentals: Bond Market Math

    In recent years, central banks have kept interest rates low in an effort to support the struggling global economy. Since hitting multi-generational lows, interest rates (and bond yields) have spiked significantly higher.

    [... More]

  • Jun
    24
    2013

    The Emergence of a New Breed of Investor – Is Yours an Enterprising Family?

    Over the last two years, SEI Private Wealth Management, in collaboration with ScorpioPartnership, conducted an unprecedented study into the insights of wealthy families, which shows three distinct strategies emerging from this group in managing family wealth.

    [... More]

  • May
    9
    2013

    Understanding the Anatomy of Giving

    SEI Private Wealth Management's recent survey reveals that the vast majority of ultra-high-net-worth individuals believe their wealth creates an obligation for philanthropy, regardless of tax incentives.

    [... More]

  • May
    9
    2013

    The Generation Gap

    SEI Private Wealth Management's survey of wealthy Gen-X investors raises a number of flags about effective succession planning and wealth transfer among ultra-high-net-worth investors.

    [... More]

  • May
    9
    2013

    Competing with Steve Jobs

    When it comes to innovation, the wealth management industry lags behind transformative areas like consumer electronics and telecommunications. But how much innovation and what kind are important to wealthy investors? SEI asked them directly.

    [... More]

  • May
    9
    2013

    Coping Strategies

    How do wealthy investors walk the tightrope between risk and reward?

    [... More]

  • Apr
    25
    2013

    “EBITDA, EBITDA, EBITDA…That’s all, Folks!”

    Many business owners underestimate the importance of EBITDA1 to their business and personal finances.

    [... More]

  • Nov
    16
    2012

    Video: Presidential Election Impact and Post-Election Challenges

    With the campaign season now in the rearview mirror, the U.S. economy turns its attention to some of the challenges that await. [... More]

  • Nov
    8
    2012

    U.S. Election Results: Similar Configuration, Same Challenges

    After a long, gruelling and occasionally bitter campaign, Election Day in the U.S. has finally come and gone. President Obama won re-election, the Democratic Party added marginally to its majority in the Senate, and the Republican Party retained control of the House of Representatives. The immediate political challenges facing the country—most notably the “fiscal cliff,” a package of federal tax hikes and spending cuts scheduled to occur early in 2013—have been apparent for over a year. The divided government must address long-term budget concerns without derailing a multi-year but still-fragile economic recovery. How effectively the President and current or subsequent Congress deal with these challenges remains to be seen. [... More]

  • May
    29
    2012

    Big Divergences, Still Looking for a Catalyst

    May has been a challenging month for investors, with government debt fears, bank stresses and political upheaval in Europe causing renewed pessimism and another broad flight to safety. As a result, relative valuations have become quite stretched between U.S. equities and stock markets in Europe and emerging markets. While some indicators are inspiring a bit of optimism, we are maintaining our current positioning as we look out for potential catalysts. [... More]

  • Apr
    12
    2012

    Podcast: March 2012 Macro Summary View

    March went out like a lamb, but markets roared all the way through, ending the month and quarter strongly. The equity market had its best first quarter since 1998, as the S&P 500 returned 12.56%. Whether it is sterilized quantitative easing or Operation Twist, there is no denying that the Federal Reserve, or Fed, has been engaged. [... More]

  • Mar
    27
    2012

    Making Sense Out of Conflicting Viewpoints

    In an industry in which people are paid to make investment decisions based on their personal points of view, everybody has an opinion. Determining the sources of varying outlooks can help you provide clients with the perspective that’s most relevant to them and their portfolios. [... More]

  • Mar
    5
    2012

    Is Iran About to Receive a SWIFT Kick?

    While many analysts are concerned about the possibility of military conflict between Iran and the West over the former’s nuclear ambitions, economic and financial sanctions against Iran continue to escalate. SEI is monitoring the situation from a market-risk perspective, as increased risk might influence active asset allocation and portfolio construction decisions. [... More]

  • Feb
    14
    2012

    Commentary: The Five Stages of Greece

    Consistent with the Five Stages of Grief model, we believe that the ‘fifth stage of Greece’ will involve acceptance, by the troika and Greece and that the latter must depart from the single-currency union. We do not believe that departures by Greece or other periphery nations will lead to the collapse of the eurozone, however. [... More]

  • Dec
    7
    2011

    The Generation Gap

    Centered around the findings of the SEI Family Wealth and Succession Survey conducted in June 2011, The Generation Gap elucidates the issues many wealthy families face when mapping out their succession plans. Affluent family heads face a multitude of challenges inherent in effectively passing wealth to the next generation. Knowing how other families handle these issues can help you make better decisions when the time comes to decide your own legacy plan. [... More]

  • Oct
    11
    2011

    The "Formula Clause" Pitfall

    Many lawyers use a "formula clause" within their clients' trusts, which designates inheritances via fractions or percentages, not fixed dollar amounts. With the increase of the estate tax exemption to $5 million and new portability feature in the 2010 Tax Relief Act, use of the forumla clause may result in inadvertently disinheriting surviving beneficiaries. A simple amendment can be used to correct the defect. [... More]

  • Aug
    15
    2011

    A Brief History of Market Turbulence

    Economic and financial crises have been a regular feature of monetary economies throughout history. While no two have been exactly alike, they tend to share some common characteristics. Read about some key lessons that investors can take away from such comparisons. [... More]

  • Aug
    10
    2011

    Five Pieces of Advice About Advice

    Advice can come from many sources.  These sources often have personal biases that can either strengthen or limit the benefits of this advice.  Preference, proximity and proficiency all play a role in how professionals dole out advice, not to mention compensation.  All of these and other factors should be examined when considering an expert opinion. [... More]

  • Aug
    2
    2011

    Implications of a U.S. Debt Ceiling Agreement

    An agreement to raise the debt ceiling and avoid a default is a welcome development. However, this simply (1) averts an immediate crisis and (2) creates the time and space necessary for Congress to (hopefully) make some rather difficult decisions regarding federal spending and revenue. [... More]

  • Jun
    20
    2011

    U.S. Credit Downgrade: How Would It Impact Fixed Income Investors?

    In recent weeks, major credit rating agencies have expressed renewed concern over the financial outlook for the U.S., perhaps eventually losing its AAA rating. What are the implications for investors? [... More]

  • Jun
    1
    2011

    U.S. Equities: Few Repeat Winners/Losers When Inflation Rises

    In spite of media-stoked fears of rising inflation, SEI does not view inflation as a near-term threat. For U.S. equities, recent periods of rising inflation have not resulted in clear-cut winners and losers. [... More]

  • May
    4
    2011

    It's Your Money: Why Give Away More Than You Have To?

    When ignored, taxes can diminish portfolio returns significantly over time. A number of tools for investors can help alleviate this burden. Learn more about them, and about current key tax policy trends, from David Zierath of the SEI Wealth Network. [... More]

  • Apr
    5
    2011

    Quarterly Economic Outlook: Moving Ahead Despite the Challenges

    There is no denying that the first quarter was a harrowing one. Yet, with the main exceptions of Japanese and emerging-market equities, financial markets have managed through the bad news. This impressive resiliency can be attributed to the underlying strength of the global economy. [... More]

  • Mar
    31
    2011

    What's Your Instinct? Head Vs. Heart

    Do you invest with your head or your heart? That is the question. Many investors believe they are completely rational when it comes to making financial decisions, but when the heat is on they tend to revert back to their most primitive instincts. This article explores the necessity of both your logical and emotional sides when making important investment decisions. [... More]

  • Mar
    16
    2011

    Japan: Too Early to Tell

    Japan, the third-largest economy in the world, has endured earthquakes, a tsunami and multiple nuclear reactor failures. The long-term downstream consequences will not be clear for quite some time. Gross domestic product (GDP) will be negatively impacted in the short term, but rebuilding should help economic activity rebound. [... More]

  • Feb
    10
    2011

    Oil, Water, Food and Money: A Macro View of Political Tensions

    Ongoing political turmoil in Egypt led to the temporary closure of that country’s stock market and banking system. The market is expected to remain closed until the week of February 13, while banks reopened on Sunday, February 6. A run on Egypt’s currency or debt would cause considerable harm to its economy and financial system. [... More]

  • Oct
    5
    2010

    Comparing Recessions: U.S. "Great Recession" vs. Japanese "Lost Decade"

    A spate of economic data raised concerns that the U.S. economy is facing a “lost decade” like the one Japan experienced from 1991-2001. While we see similarities, a closer look reveals significant differences which we believe ultimately render them uncomparable. [... More]

  • Jul
    16
    2010

    Retirement Plans: Are You Ensuring the Best Tax Result for Your Beneficiaries?

    With proper planning, retirement assets can grow on a tax deferred basis. Are you sure your beneficiaries aren't missing out on significant tax deferral opportunities? [... More]

  • Jun
    3
    2010

    Investment Update: Why U.S. Investors Should Care About the Euro

    Why should U.S. investors care about the sovereign debt troubles of Greece and other European countries? These issues can have a significant impact on domestic investments. [... More]

  • Mar
    24
    2010

    The Effects of Recession on U.S. State Governments

    Individual states are expected to remain resilient but under considerable stress as the U.S. economy continues to recover from the national recession that began in December 2007. [... More]

  • Mar
    18
    2010

    Should We Hold a Family Meeting?

    Are family meetings worth the effort? We believe they are an effective way to share your goals for self, family and community—the groundwork for an enduring family legacy. [... More]

  • Jan
    26
    2010

    Estate Tax Repeal. 2010: What You Need to Know about Estate and GST Taxes

    Beginning January 1, 2010, estate and generation skipping transfer (GST) taxes are repealed for one year. Understand the changes and review your current estate plan.
    [... More]

  • Jan
    8
    2010

    Vacation is Over. Active Tax Management is Back in School

    As we have been repeatedly reminded with regards to our investment portfolios, “It’s not what you make that counts, it’s what you keep.” With that in mind, we thought it would be constructive to remind everyone about our efforts to increase “what you keep.”
    [... More]

  • Mar
    13
    2009

    Stimulus Package: An Overview and Outlook

    At the present time, we see nothing in the stimulus package that would lead to changes in our asset allocation recommendations. Active managers can be expected to find opportunities in this environment. [... More]

  • Podcast: March 2014 Federal Open Market Committee Meeting

     Every seven weeks investors create a list of items they expect the Federal Reserve to address. This time around, the shift from quantitative guidance to qualitative guidance was at the top of that list. In other words, investors expected the Fed to stop using the unemployment rate as a benchmark for triggering a rise in interest rates.

    [... More]