• Optimal Rebalancing in a Volatile World

    November 25, 2014

    Rebalancing is a critically important element of portfolio management, but it gets scarcely the attention it deserves. Our research shows that disciplined rebalancing is necessary to maintain a portfolio at its desired risk and return levels – without it, the whims of the market can considerably alter a portfolio’s composition.

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  • Who’s Afraid of the Big Bad Rates?

    September 30, 2014

    With short-term interest rates at historic lows, and the end of the Federal Reserve’s latest bond purchase program scheduled in October, investors are right to wonder about the prospect of rising interest rates. This wonder naturally turns to concern for fixed income portfolios, which derive their return from the overall level of interest rates in the economy and are thus naturally exposed to the effects of interest rate movements, both positive and negative.

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  • Money Market Fund Reform Update

    August 1, 2014

    On July 23, 2014, the Securities and Exchange Commission (“SEC”) released an 869-page document adopting amendments to the rules that govern money market mutual funds. The amendments passed by a narrow 3-to-2 margin and, similar to previous amendments adopted in 2010,

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