Small caps have enjoyed a structural size premium (Chart 1 and Chart 2). Moreover, we have long maintained that high active share strategies are best deployed in less efficient market segments such as…

Our employee-owned firm, Xponance^®, is led by an experienced team of women and diverse professionals with a shared passion to act in good conscience for our clients, communities and each other. As part of this mission, we take environmental, social and governance (ESG) issues seriously.

As we ponder what has transpired since the beginning of 2020, and as we look back at the first quarter, we are struck by a plethora of thoughts given the monumental difference between how the year began and the quarter ended. To begin, the economic situation in which we find ourselves is…

The new decade of 2020 began in an unprecedented way. There were two distinct phases to the first quarter of the year. The first was characterized by an equity market surging to all-time highs despite concerns about a manufacturing slowdown, geopolitical tensions, and US political uncertainty.

Widespread social distancing has been akin to emergency sedation of global economic activity while the extensive fiscal and monetary stimulus has provided life support.

Topic Overview This short piece describes our analysis of historical return patterns for short duration fixed income assets and an assessment of the benefits and drawbacks of investing with an inherent bias towards spread products over a range of market cycles....