![]() ![]() All of these reviews are well done and complete with significant charts and graphs to use data to provide an underpinning for their current market views. As a registered investment advisor that is a subsidiary of a large fraternal benefits society that offers insurance, KoCAA receives prognostications from a variety of Wall Street, investment management and economic research firms. This brings us to the virus as the central tenet and pivot point of our outlook. Other businesses, mainly in hospitality, leisure and travel were decimated and are just starting to see some activity. We know that KoCAA’s success story was met by many other businesses in a variety of industries that rose to the occasion as well. By March 17th, all our employees were working remotely and we, like every other business, had to adapt to this new reality. At Knights of Columbus, we sent our first people to work from home on March 12th which included the investment team. Of course, everything started to change in late February and by early to mid-March things really began to change. Consumer confidence and business confidence were both increasing and the combination of all of these factors led us to believe that 2020 would certainly be a good year for the economy, if not the capital markets as well. This type of wage growth could have led to further economic gains because of the consumption driven nature of our economy and the broad base of increasing wage gains. The wage growth story was also very positive because wages were growing fastest at the lower levels of the economic ladder. Real wages were growing faster than inflation, which was also low. ![]() The structure of the employment market was good with broad based participation. In 2020, we came into the year with the economy on generally solid footing, unemployment was low and seemingly going lower. No outlook can be complete without reviewing the previous year. For clients that utilize our model portfolio strategy, the Asset Allocation team is working hard to update the models which will be ready for distribution in March. Please contact us if you would like to review your current situation. This review should be taken in light of your current situation, liquidity needs, any expectation of large portfolio inflows or outflows and any other factor that could influence your asset mix. If nothing has changed with respect to the long term needs for the assets you possess, rebalancing back to targets will allow you bring your portfolio back into line with your long-term objectives.Īt an interval, such as year end, we also think that is an appropriate time to review your asset allocation structure. Given the strength of the equity market in 2020, we believe many investors will find that their general split between stocks and bonds is out of line with their investment policy goals. There have been numerous studies on the impact of asset allocation with respect to the long-term results for any investor. With this as our guidepost, we contemplate the primary issue for clients: asset allocation. ![]() We view ourselves as advisors and counselors to our clients which, in our minds, connotes a deeper level of service than simply managing assets. When we created our company in 2014, we selected the name Asset Advisors for a reason. Our Approach Our Products Invest Now My AccountĪs we begin to think about the capital markets for 2021, we always start from the perspective of our clients. Our Guiding Principles Our Difference Invest CIO 2021 Market Outlook | Knights of Columbus ![]()
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