by Tina Byles Williams | Oct 3, 2019 | Market Insights Alerts
As a backdrop to our portfolio derisking recommendations, we evaluate the macro background, asset return sensitivities and market responses during economic downturns over the last 30 years.
by Tina Byles Williams | Sep 27, 2019 | Market Insights Alerts
View PDF version Battening Down The Hatches Part Two Part 2: How Should Investors Derisk?In Part 1 of this series, we posited that the next recession could take two possible forms:A traditional cyclical downturn as decelerating industrial production infects the...
by Tina Byles Williams | Sep 19, 2019 | Market Insights Alerts
#derisking #asset allocation #equities #bonds #geopolitical #negative yields #yield curve # stagflation # inflation # stock and bond correlation # populism #income inequality #Brexit #Donald Trump Populism is on the rise and it has historically led to increased...
by Tina Byles Williams | Sep 19, 2019 | Market Insights Alerts
Read our blog post here: #derisking #asset allocation #equities #bonds #geopolitical #negative yields #yield curve # stagflation # inflation # stock and bond correlation # populism Stagflation would most likely be prompted by a negative supply shock caused by either...
by Tina Byles Williams | Sep 16, 2019 | Market Insights Alerts
#derisking #assetallocation #equities #bonds #geopolitcal #negative yields #yield curve #cyclically adjusted earnings The world faces an economic meltdown, or There is a buying panic in safe assets and thus a buying opportunity in risk assets. For allocators, if the...
by Tina Byles Williams | Sep 13, 2019 | Market Insights Alerts
The dynamics that warrant reduction in equity risk exposures include: Late cycle dynamics leading to marked global growth slowdown Bearish signals from the bond market More constrained reflationary policies from China that will be a less potent for jump-starting...
by Tina Byles Williams | Sep 12, 2019 | Market Insights Alerts
Global institutional investors are selling public equities in favor of so-called safety assets, such as bonds and real assets. This rebalancing activity is driven by signs of an aging economic cycle and bull market (U.S. and Canadian investors) as well as elevating...
by Tina Byles Williams | Jul 25, 2019 | FIS Market Outlook Updates
Q3 Market Outlook: A Late 2019 Performance Pivot to Non-US Markets?View Full Report | PDF & Print Version Despite a rocky midpoint, global equities eked out a solid gain of 3.6% during Q2 and rose 16.23% in the first half of 2019. Here’s our recap of the...
by Tina Byles Williams | Jul 25, 2019 | FIS Market Outlook Updates
Q3 Market Outlook: A Late 2019 Performance Pivot to Non-US Markets?View Full Report | PDF & Print Version My Q3 2019 Market Outlook looked the emerging world, where earnings and valuations are yielding mixed messages (see CHART 6 and CHART 7).Korea’s forward...
by Tina Byles Williams | Jul 25, 2019 | FIS Market Outlook Updates
Q3 Market Outlook: A Late 2019 Performance Pivot to Non-US Markets?View Full Report | PDF & Print Version Despite our expectation of a continued late cycle rally which will pivot to non-US markets, geopolitical tensions remain a wild card that could abruptly...
by Tina Byles Williams | Jul 22, 2019 | FIS Market Outlook Updates
Q3 Market Outlook: A Late 2019 Performance Pivot to Non-US Markets?View Full Report | PDF & Print Version For Q3 2019, we are moving the dial towards cyclical sectors and markets.US: We maintain our neutral position to U.S. equities.Developed Non-US:We have...
by Tina Byles Williams | Jul 22, 2019 | FIS Market Outlook Updates
Q3 Market Outlook: A Late 2019 Performance Pivot to Non-US Markets?View Full Report | PDF & Print Version In my Q3 2019 Market Outlook Report I outlined our belief that China’s growth slide is bottoming and that, at least in the short term, the policy uncertainty...
by Tina Byles Williams | Jul 18, 2019 | FIS Market Outlook Updates
Q3 Market Outlook: A Late 2019 Performance Pivot to Non-US Markets?View Full Report | PDF & Print Version In my Q3 2019 Market Outlook I examined the contradictory messages sent by the bond vs. stock markets. Whilst the stock market continued to climb a wall of...
by Tina Byles Williams | Jul 18, 2019 | FIS Market Outlook Updates
Q3 Market Outlook: A Late 2019 Performance Pivot to Non-US Markets? View Full Report | PDF & Print Version The performance of global equites in the first half of the year (+16.23%) is consistent with our commentary in the last two Market Outlook reports, which...
by Tina Byles Williams | Jul 16, 2019 | Market Outlooks
Despite a rocky mid-point, precipitated by the infamous “tweet heard around the world” on May 5th, when President Trump once again pivoted to a more bellicose stance in the trade war with China, global equities eked out a solid gain of 3.6% during 02....
by Tina Byles Williams | Jun 20, 2019 | FIS News
SMID-CAP MANAGER OF THE YEAR April 2018 – Emerging Manager Monthly awarded Piedmont Investment Advisors 2018 SMID-Cap Manager of the Year.To be eligible for the 12th Annual Emerging Manager Awards, managers must have submitted year-end 2017 data to PSN Informa by...
by Tina Byles Williams | Apr 18, 2019 | Market Outlooks
Although global growth declined in Q1, as anticipated in our Q1 2019 Outlook, risk assets continued their December 2018 romp as a result of an apparent de-escalation of U.S.-Sino trade tensions and a decidedly dovish pivot by G10 Central banks (See Table One). Some US...
by Tina Byles Williams | Feb 1, 2019 | Market Outlooks
Frontier markets slumped in line with other non-dollar denominated markets in 2018; though outside of Argentina, frontier markets as a whole outperformed even the U.S. market. In our annual outlook we first look back to grade our calls from last year (spoiler: very...
by Tina Byles Williams | Jan 18, 2019 | Market Outlooks
Each year we begin our Q1 market outlook by holding ourselves to account for the results of the previous year’s macro strategy calls. We then give a detailed overview of what we see as the chief headwinds…
by Tina Byles Williams | Oct 23, 2018 | Market Outlooks
Following the imposition of a second round of tariffs on Chinese goods and China’s concomitant imposition of retaliatory tariffs, we are – by nearly any reasonable definition of a trade war – in the heart of one at this time. There is good reason to...
by Tina Byles Williams | Aug 29, 2018 | FIS Press Releases, Xponance® Press Release 2018
Press Release PHILADELPHIA, PA, August 29, 2018 – FIS Group, a manager of U.S. and global developed, emerging and frontier markets equity portfolio strategies, today announced that it has been recognized with Top Guns status by Informa Investment...
by Tina Byles Williams | Jul 24, 2018 | FIS Press Releases, Xponance® Press Release 2018
Press Release PHILADELPHIA, PA, July 23, 2018 – FIS Group, a manager of U.S. and global developed, emerging and frontier markets equity portfolio strategies, today issued its latest Q3 2018 Market Outlook, ‘A Final Melt-Up.’ In the context of a strong U.S. dollar, the...
by Tina Byles Williams | Jul 20, 2018 | Market Outlooks
At its half-way mark, 2018 has been a tough year to make money. Investors have lost money on US investment grade bonds, on emerging debt, on US Treasuries, on European bonds, and on pretty much every major global equity market. Towards the end of the second quarter,...
by Tina Byles Williams | Jul 17, 2018 | FIS Press Releases, Xponance® Press Release 2018
Press Release PHILADELPHIA, PA, July 16, 2018 – FIS Group, a manager of U.S. and global developed, emerging and frontier markets equity portfolio strategies, today published its latest issue of ForesIghtS, ‘The Hidden Risk in a Portfolio: Crowded Trades.’...
by Tina Byles Williams | Jul 10, 2018 | FIS Foresights
FORESIGHT | FIS VIEWS Crowded trade risks, while often unappreciated by investors, can be real and significant. They can be viewed as a byproduct of the immense proliferation of index and index-like products. While these products meet important investor needs, their...
by Tina Byles Williams | Jun 14, 2018 | FIS Group In the News
FIS In the News Emerging Manager Monthly’s recent article, FIS Expands Into Direct Management With Piedmont Acquisition – covers the recent acquisition of Piedmont Investment Advisors, LLC, an institutional investment firm. “Emerging...
by Tina Byles Williams | Jun 6, 2018 | FIS Press Releases, Xponance® Press Release 2018
Press Release PHILADELPHIA, PA, June 6, 2018 – FIS Group, a manager of U.S. and global developed, emerging and frontier markets equity portfolio strategies, today announced that it has been recognized with Top Guns status by Informa Investment Solutions’ PSN,...
by Tina Byles Williams | May 23, 2018 | FIS Press Releases, Xponance® Press Release 2018
Press Release PHILADELPHIA, PA, May 23, 2018 – FIS Group, which offers global developed, emerging and frontier markets equity portfolio strategies through manager of manager portfolios, announced today that it is acquiring Piedmont Investment Advisors, LLC, an...
by Tina Byles Williams | May 14, 2018 | FIS Press Releases, Xponance® Press Release 2018
Press Release PHILADELPHIA, PA, Monday, May 14, 2018 – FIS Group, a manager of U.S. and global developed, emerging and frontier markets equity portfolio strategies, is pleased to announce that Robert Morier has joined the firm as a senior vice president of sales and...
by Tina Byles Williams | Apr 30, 2018 | Market Outlooks
So far, three of the four main themes for 2018 that we shared in January’s report – more aggressive Fed rate hikes, mean reversion of low vol, and geopolitical risks from Trump’s foreign and trade policy – appear on track and our Q1 positioning...
