We began last quarter’s commentary by discussing the historical context that put the first quarter performance in the history books as one of the most negative quarters for total return on record given the violent interest rate move.

Equity markets posted strong returns in the second quarter of 2021 as a substantial decline in U.S. COVID-19 cases combined with a fast-paced economic reopening across the country led to a surge in economic growth that helped stocks rally to new highs over the past three months.

Concerns over inflation continue to dominate the marketplace. June’s 0.9% rise in core CPI was well above forecasts, as were the April and May prints. Bond yields (which are used to discount risk assets) have oscillated between a high of 1.77% in March to 1.3% recently, as concerns over inflation (and new corona virus variants) have waxed and waned.

As ESG (Environmental, Social, and Governance) investing trends have steadily risen, comparing ESG ratings and metrics has become more and more complicated. Over time the process has evolved from a values-based, often exclusionary approach in the 1970s …

View PDF | Print VersionOver the past decade, our research has taken multiple in-depth looks at the exogenous drivers of what we think of as “alpha availability” among active managers. Our original work focused on smaller AUM managers’ ability to deliver relatively...

Every April, MLB players don Jackie Robinson’s number 42 jersey to commemorate his breaking of the color barrier after Branch Rickey signed him to the Brooklyn Dodgers in 1945. Robinson is rightly celebrated as a gifted baseball player who …