B P A S P A R T N E R C O N F E R E N C E 2 0 1 6 PANEL: MANAGING INVESTMENT RETURN EXPERIENCES AND EXPECTATIONS • Ralph Acampora, Director of Technical Analysis Studies, New York Institute of Finance • Michael T. DiMarsico, SVP, National Manager, Manager Resource Consulting, Federated Investors • Harry Rakovski, Director - RIA & Consultant Division Northeast, Prudential Investments Management, LLC Moderator: Greg Woods, VP, BPAS Fiduciary Services B P A S P A R T N E R C O N F E R E N C E 2 0 1 6
5
Embed
Managing Investment Return Experiences and Expectations - Greg Woods and Panel
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
B P A S P A R T N E R C O N F E R E N C E 2 0 1 6
PANEL: MANAGING INVESTMENT RETURNEXPERIENCES AND EXPECTATIONS
• Ralph Acampora, Director of Technical Analysis Studies, New York Institute of Finance • Michael T. DiMarsico, SVP, National Manager, Manager Resource Consulting, Federated Investors • Harry Rakovski, Director - RIA & Consultant Division Northeast, Prudential Investments
Source: Barclays, Bloomberg, FactSet, MSCI, NAREIT, Russell, Standard & Poor’s, J.P. Morgan Asset Management. Large cap: S&P 500, Small cap: Russell 2000, EM Equity: MSCI EME, DM Equity: MSCI EAFE, Comdty: Bloomberg Commodity Index, High Yield: Barclays Global HY Index, Fixed Income: Barclays Aggregate, REITs: NAREIT Equity REIT Index. The “Asset Allocation” portfolio assumes the following weights: 25% in the S&P 500, 10% in the Russell 2000, 15% in the MSCI EAFE, 5% in the MSCI EME, 25% in the Barclays Aggregate, 5% in the Barclays 1-3m Treasury, 5% in the Barclays Global High Yield Index, 5% in the Bloomberg Commodity Index and 5% in the NAREIT Equity REIT Index. Balanced portfolio assumes annual rebalancing. Annualized (Ann.) return and volatility (Vol.) represents period of 12/31/99 – 12/31/15. Please see disclosure page at end for index definitions. All data represents total return for stated period. Past performance is not indicative of future returns. Guide to the Markets – U.S. Data are as of March 31, 2016.
Source: FactSet, NBER, Robert Shiller, J.P. Morgan Asset Management. Data shown in log scale to best illustrate long-term index patterns. Past performance is not indicative of future returns. Chart is for illustrative purposes only. Guide to the Markets – U.S. Data are as of March 31, 2016.
S&P Composite IndexLog scale, annual
1,000 -
100 -
10 -
Major recessions
Tech boom(1997-2000)
End of Cold War
(1991)
Reagan era(1981-1989)
Post-Warboom
New Deal(1933-1940)Roaring 20s
Progressive era (1890-1920)
World War I(1914-1918) Great
Depression(1929-1939)
World War II(1939-1945)
Korean War(1950-1953)
Vietnam War(1969-1972)Oil shocks
(1973 & 1979)
Stagflation (1973-1975)
Global financial crisis (2008)
BlackMonday(1987)
Equ
ities
-5%
0%
5%
10%
15%
20%
'58 '63 '68 '73 '78 '83 '88 '93 '98 '03 '08 '13
Source: BLS, Federal Reserve, J.P. Morgan Asset Management.Real 10-year Treasury yields are calculated as the daily Treasury yield less year-over-year core CPI inflation for that month except for March 2016, where real yields are calculated by subtracting out February 2016 year-over-year core inflation. Guide to the Markets – U.S. Data are as of March 31, 2016.