Simon Mays-Smith

Amid one of the most tumultuous campaigns in living memory, the outcome of November’s US elections remains highly uncertain. Polls, and prediction and betting markets, currently lean around 60% towards Harris, leaving the outcome of the vote for the Presidency completely open. Similarly, the congressional race is too close to call, with a Republican sweep of both houses being slightly more likely than the Democrats doing the same – but with divided government the most probable outcome, whoever wins the White House. By Virginie Maisonneuve, Global CIO Equities and Sunil George, Senior Analyst at Allianz Global Investors #Equities #Tech #Politics #USElections #SiliconValley

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Jamie Dimon interview with Emily Chang of Bloomberg "The best preparation? You have to be prepared before the fact." - Essential Crisis Management Insights https://lnkd.in/gTJpkUGM Essential Crisis Management Insights from this Interview: The best approach is not just to react, but to proactively think through potential disasters—evaluating if your organization will survive them. And at 9:40, he said “Going way back, I used to do a presentation on financial crises, going back to blow ups on Ginnie Maes, commercial paper, the 87 crash, 90 recession and the 74 recession. And If you make a list of all those things you realize that I am not making fun, they happen all the time. And the best preparation in our business capital is liquidity, which Dodd-Frank improved. You know, you can't be prepared after the fact. You gotta be prepared before the fact, when I talk about risk management, it's always about the range of outcomes and how we handle them and beyond that we talk about geopolitical crises, cyber, you know, I put cyber at high risk.  You gotta be prepared for that stuff and it does happen and it's gonna surprise you one day.  The best thing is to be prepared. For any business, think about the things that could go terribly wrong, can you survive them?”      In today's uncertain world, businesses confront constant challenges that threaten their stability. Business continuity planning goes beyond regulatory requirements; it's strategic foresight, enabling agile crisis management. Key Steps for Resilience: Assess Risks: Regularly identify vulnerabilities. Plan Responses: Develop detailed response strategies for various scenarios. Train: Conduct drills to prepare teams. Review and Adapt: Continuously update plans based on new threats and past incidents. By envisioning potential crises, businesses can create resilient systems. For example, imagine a supplier bankruptcy; a continuity plan ensures uninterrupted operations. Don't wait for a crisis to reveal vulnerabilities. Strengthen your organization with a comprehensive continuity plan. For tailored strategies, contact Landis & Co at [email protected] or follow Landis & Co now. Schedule a call here: https://lnkd.in/gWjX4WmV Andrea Perlak Rohan Ehsan Chris Ekai Jaidev Iyer Mark Armour, cABCF Mark Bittinger James Burnie FRSA Lori Souza MBA, BSIT Oonagh van den Berg (Lady) Jonathan Stull #BusinessContinuity #CrisisManagement #Resilience #RiskManagement #StrategicPlanning

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There’s a lot of talk about the massive wealth transfer in the family office space, and projections suggest the #family office market may soon surpass private equity and venture capital combined. While that’s impressive, these are not the same dollars. Family office capital has its own approach—transfer horizons, #relationships, deal structures, and returns all look different than in a typical private equity setting. The term 'family office' can be misleading too, because each family office is unique. One family may be first-generation, focused on #building #wealth, while another in its sixth #generation may be dedicated to preservation. At the end of the day, these families deserve a closer, more thoughtful approach to truly understand their #goals and how a united front can help families and sponsors achieve them together. #FamilyOffice

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This is a comprehensive deep dive into how some private equity are linking their carried interest to impact objectives by Snehal Shah on New Private Markets, including a list of the funds we have come across with such a mechanism in place, and an exploration of why investors are divided over the merits... https://lnkd.in/dqRqNifi

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As the DOW Jones closed above 40,000 for the first time in its history, Olaolu Aganga recently joined the team on CNBC’s Closing Bell to discuss our playbook in alternatives and current strategic and tactical asset allocation views. Through what many have described as a “supercycle” election year, we see large asset owners seeking out stability in longer-term allocations to alternatives – including private credit and private equity. Typically marked to market at a slower rate, exposure to alternatives can provide important stability through more volatile periods. Balancing strategic and tactical decision making across portfolios is all about assessing risk and return relative to time horizon. Strategically, we’ve been neutral on Europe for some time, but tactically, we’ve been looking internationally to capture opportunities across emerging markets, most recently in China where we see valuation distortion. Join the Mercer Investments team and Olaolu Aganga LIVE in Nashville for the Global Investment Forum June 10-12: bit.ly/3Vm71yw

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With uncertainty around policy implications, I believe investors should focus on the low-hanging fruit: themes and policies with bipartisan support. Check out my recent interview with Tanvir Gill and Sam Vadas on CNBC Street Signs where I outline the bipartisan investment themes that have much more clarity around being implemented: https://lnkd.in/eZiztGPB Additionally, I continue to favor U.S. small caps, cyclicals, and global banks. Here are my thoughts: 📈 Cyclicals still have room to run. Cyclicals (ex-tech) have outperformed defensives since the mid-September low in bond yields. But they have still lagged their beta to the broader market, suggesting there may be more to go. Historically, they should benefit from pro-growth policies. 💭 Small caps remain attractive. U.S. small cap earnings were good but guidance has inflected higher. Valuations relative to large still look compelling and the asset class is significantly underinvested in. 🏦 Global Banks. Bank profitability has held up quite well and the U.S. credit default cycle looks to have peaked. In the eurozone, there are pockets of economic resilience, especially in the periphery. Generally speaking, these banks have performed well year to date and I think they can perform well into year-end and beyond. Raymond James Investment Management

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Over 240 firms added 450+ strategies to the Nasdaq eVestment platform in 1Q24 for visibility with consultants, intermediaries, and investors. The newly marketed strategies were added by firms domiciled across 30 unique countries spanning from Australia to Singapore to Switzerland, and 28% indicated integration of ESG considerations into their respective investment processes. From a geographic standpoint almost 200 were broadly diversified (i.e. had a global investment focus) in nature, however, in total the newly promoted strategies spanned over 30 different regions across #balanced, #equities, #fixedincome, #hedgefund and #realestate capabilities. Please see the link below for further details… (managers please do contact the Nasdaq eVestment team should you have questions regarding optimizing presence/visibility, opportunities, and relevant trends/insights of those areas where your firm has expertise!).

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As the DOW Jones closed above 40,000 for the first time in its history, Olaolu Aganga recently joined the team on CNBC’s Closing Bell to discuss our playbook in alternatives and current strategic and tactical asset allocation views. Through what many have described as a “supercycle” election year, we see large asset owners seeking out stability in longer-term allocations to alternatives – including private credit and private equity. Typically marked to market at a slower rate, exposure to alternatives can provide important stability through more volatile periods. Balancing strategic and tactical decision making across portfolios is all about assessing risk and return relative to time horizon. Strategically, we’ve been neutral on Europe for some time, but tactically, we’ve been looking internationally to capture opportunities across emerging markets, most recently in China where we see valuation distortion. Join the Mercer Investments team and Olaolu Aganga LIVE in Nashville for the Global Investment Forum June 10-12: bit.ly/3Vm71yw

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From artificial intelligence to hip-hop music, we’ve got five fascinating book recommendations. Important disclosures: https://bit.ly/2JzEDWl .

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Great to hear lessons learned from portfolio manager Mark Casey in this podcast episode. He reflected on how digitalization has transformed – and continues to shape – industries and shared how he’s learned to expand his peripheral vision. 🎧 Listen now wherever you get your podcasts: https://apple.co/4bOghQy Important disclosures: https://bit.ly/2JzEDWl #InvestingInsights #Podcast #Digitalization

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Our 2025 outlook, titled Roaring '20s: The Next Stage, is now out. Daniel Cassidy and I discussed the outlook on a special Strategy Snapshot podcast. We first reviewed what has happened so far this decade to justify calling it a Roaring '20s. We then discussed the economic and market outlook for 2025, and our key investment recommendations for the next year. We finished by touching on some of the secular trends that will impact market performance for the rest of the decade. Listen to the podcast for all the details. https://lnkd.in/eBqqPqqW

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Real insight and valuable takeaways in our latest G100 report provide essential reading for asset management marketers and C-suite leaders. Please get in touch to discuss further.

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Don't miss these great reads in the latest Fortnightly. Ted Seides on the new Yale emerging manager program. Mark Steed and Ashby Monk on creating a decision-friendly environment. Michael Mauboussin on moats. Plus, a fascinating paper on gender and analyst reports, a questionable assertion about fiduciary duty, rewiring the corporate financing machine, the PE liquidity squeeze, and more interesting topics. https://lnkd.in/dkJggBWz

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Happy to share that Steven Brod, our Senior Partner, CEO and CIO has written a brilliant article demystifying hedge fund performance metrics, which has been published by Advisorpedia. Advisors play a crucial role in determining the best investment strategies for their clients, and not all returns are created equal. The highest performing strategy may not always be the most appropriate, and advisors that only look at the performance figures of the most popular index funds or ETFs could be missing out on the benefits of a hedge fund allocation in a portfolio. Read the full piece here: https://bit.ly/4cr1FqN #hedgefunds #alternatives #ETF #indexfund #wealthmanagement #advisor For financial advisors only. IMPORTANT DISCLOSURE: https://lnkd.in/e3VJtU2q

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Great insights from my colleagues, Alisa Wood and Chris Harrington, on the key drivers behind private equity's long-term out performance relative to public markets. Plus, they share perspectives on the future -- give it a read here: https://go.kkr.com/3YIAjr1

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This is worth a few minutes of your time. My story today with Kat Hidalgo Allison McNeely and Eyk Henning on the travails facing private equity after they added even more expensive debt when borrowing costs soared, and how that financial engineering is now complicating exits. We also tackle the implications for private credit. With thanks to James Boxell for a great edit.

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“There are valid concerns around the pursuit of large, multi-strategy firms and what they mean for client outcomes. Who is communicated to first in a larger organization? Which funds will get the best deals? Will a parent company encourage a short-term, profit-maximizing mindset, forcing investment teams to focus on asset-gathering rather than long-term returns? Can you really be a fiduciary if you also have shareholders?” Read more from Claire Sawyer on CAIA Association’s blog.

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