Chris Armbruster, portfolio manager with Kayne Anderson Rudnick, discusses the prevalence of innovative disruptors in the mid-cap segment and the growth opportunity for long-term investors.
Joe Dennison, co-portfolio manager of the Virtus Zevenbergen Innovative Growth Stock Fund, explains why innovative and disruptive companies are an attractive opportunity for long-term investors.
In an interview with Virtus’ Head of Distribution, Barry Mandinach, Michael Kirkpatrick, Managing Director and Senior Portfolio Manager at Seix Investment Advisors, discusses his solid fundamental outlook for high yield and the potential benefits of investing in the asset class.
Quality businesses have an unmistakable profile: durable earnings growth, high return on capital, strong balance sheets and cash flows, and management acumen at maintaining a competitive advantage. These attributes sound attractive, but do they really make a difference? Kayne Anderson Rudnick (KAR) believes they do. Updated with 3/31/2021 data.
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Seix Senior Portfolio Manager Michael Kirkpatrick and his team focus on higher-quality credits that can minimize losses during selloffs, while also looking for mispriced securities to improve performance.
Explore the key attributes of mid-cap investing and the opportunities offered to investors, and use our interactive tool to see how an allocation to mid cap stocks may improve an equity portfolio’s performance and mitigate risk over time.
Q1 Market Review & Outlook
Multi-Sector Fixed Income
On a recent call with advisors, Joe Terranova provides his observations on capital markets. Discussion topics include: thoughts on deploying capital at current equity valuation levels; potential sustainability and durability of the economic expansion; prospects for inflation and how to construct portfolios in light of a possible inflationary environment.
“The prudent approach in today’s climate is to pursue balance and avoid excessive leverage.”
–Joe Terranova, Chief Market Strategist, Virtus Investment Partners
Dovish Fed, Rosier Forecasts, and Bullish Yield Chasers
When focusing on the short end of the yield curve, securitized credit offers a yield advantage relative to comparably rated bonds.
Steeper Curve, Record Liquidity, and Robust Growth Prospects
“Balance and reasonable portfolio expectations are prudent approaches to the end of the pandemic and the beginning of a bull market for society.”
–Joe Terranova, Chief Market Strategist, Virtus Investment Partners
Emerging-market economies have changed dramatically over the last 10-12 years. The MSCI Emerging Markets Index has reflected this shift, illustrating a potential unintended consequence of investing through a broad, market-cap weighted index—a dynamic that active managers have the ability to mitigate.
Chinese equities can offer an exciting and dynamic opportunity, but investors must navigate a complex regulatory environment and quickly changing competitive dynamics. In Vontobel’s view, challenges in China’s A-shares universe – shorter track records and limited transparency – can be managed. Learn how Vontobel’s research helps uncover high-quality companies in China with enduring profitability and growth.
“At even strength, the game is still winnable, but it has gotten a little harder to score a goal.’”
–Joe Terranova, Chief Market Strategist, Virtus Investment Partners
Between chronic low rates, wariness about owning equities, rising inflation, and longer life expectancy, investors planning for retirement may want to make an income and growth fund a core holding.
Convertible securities historically have provided returns competitive with equities, but with lower volatility.
“Risk will be the most important word for investing in 2021. Consider ‘How much can I lose?’ before asking ‘How much can I gain?’”
–Joe Terranova, Chief Market Strategist, Virtus Investment Partners
Four Virtus investment partners offer their perspectives on the dramatic change emerging markets have undergone over the last 10-12 years.
In a recent call with financial professionals, Virtus’ Chief Market Strategist Joe Terranova discusses the idea of an “investment renaissance,’ the Biden administration, and the perception vs. reality of inflation in the U.S.
Julie Biel, KAR portfolio manager and senior research analyst at Kayne Anderson Rudnick, discusses the small-cap rally and high-quality companies that offer long-term opportunities for growth in the mid-cap space, including domain-specific vertical software names.
Some of today’s high-flying stocks have disproportionately benefited from a fall in interest rates. Others include “story” stocks whose business models are yet unproven. Vontobel Asset Management separates fact from fiction to help investors prepare for a rainy day.
Why investors concerned about frothy stock valuations and volatility may want to consider equity alternatives like convertible and high yield bonds.
2020 was a memorable year for the world’s equity markets, taking investors on a wild ride from start to finish. Investment professionals from Vontobel Asset Management, Sustainable Growth Advisers, and Kayne Anderson Rudnick reflect on the market-moving events of the past year and discuss their expectations for international equities in 2021.
“The defining event for risk assets in 2020 was the introduction of a fiscal, monetary, and healthcare ‘mosaic of coordination’ in response to the COVID-19 ‘crisis of preservation.’”
–Joe Terranova, Chief Market Strategist, Virtus Investment Partners
Three CIOs from Virtus affiliates discuss their latest thoughts as we head into 2021.
David Albrycht, CFA, President and Chief Investment Officer of Newfleet Asset Management, provides a synopsis of the firm’s 2021 outlook in a brief video.
“In 2020, the markets gave us all an opportunity to become better investors.”
– Joe Terranova, Chief Market Strategist, Virtus Investment Partners
Frank Ossino, senior portfolio manager and sector head of the bank loan asset class at Newfleet, discusses prospects for bank loans heading into 2021.
Listen to Joe Terranova discuss the year-end melt up and the mechanics of quality momentum with Josh Brown.
Obsession with liquidity via money market funds comes at a price, which is why investors may want to consider short- and ultra short-term bond funds with higher yields as rates stay lower for longer.
Investment advisors, bloggers, authors, and podcasters Ben Carlson, CFA, and Michael Batnick, CFA, provide bold perspectives and keen insights in a recent discussion with Virtus’ Head of Distribution Barry Mandinach.
KAR CIO Doug Foreman, CFA, talks with Joe Terranova, Virtus’ chief market strategist, about the U.S. election and the implications for equity markets.
Jim Keegan, CIO for Seix Investment Advisors, sits with Virtus’ Chief Market Strategist Joe Terranova for a brief discussion on the election outcome and what it means for Seix’s investment grade strategies—and why security selection will be paramount going forward.
David Grumhaus provides his latest post-election thoughts, focusing in on Duff & Phelps’ real estate strategies. In this timely podcast, Grumhaus discusses how election results may affect stock and bond markets, along with opportunities in global real estate markets with Virtus’ Chief Market Strategist, Joe Terranova.
Kishore Rao, portfolio manager and analyst with Sustainable Growth Advisers (SGA), talks with Joe Terranova, Virtus’ chief market strategist, about what the U.S. election results and ongoing pandemic mean for growth stocks in the months ahead.
David Albrycht provides his latest thoughts on the economy and Newfleet’s multi-sector strategies in light of the U.S. election. In this timely podcast, Albrycht discusses current risks and opportunities in the fixed income market with Virtus’ Chief Market Strategist, Joe Terranova.
George Goudelias discusses the U.S. election results and potential implications for leveraged loans in this timely discussion with Virtus’ Chief Market Strategist, Joe Terranova.
In a conversation with Virtus’ Chief Market Strategist Joe Terranova, Head of Virtus ETFs’ Bill Smalley, and Head of Leveraged Finance at Virtus investment affiliate Seix Investment Advisors’ George Goudelias discuss the landscape for income investing and potential solutions.
Joe Terranova, Senior Managing Director and Chief Market Strategist at Virtus Investment Partners, discusses the shape of the economic recovery, potential impacts of the U.S. election, and long-term expectations for the market.
Sustainable Growth Advisers (SGA) believes Environmental, Social and Governance (ESG) factors have a meaningful impact on a company’s ability to generate long-term sustainable growth. This article discusses why the firm relies on its own informed judgment in determining the factors that contribute to ESG scores rather than rely on ESG ratings from third party research providers.
“Overall, $90 trillion in global liquidity and an investable asset supply-demand imbalance
supersedes the presidential election outcome in importance for long-term investors.”
– Joe Terranova, Chief Market Strategist, Virtus Investment Partners
Seth Kadushin, Portfolio Manager and Director of Capital Markets, sits down with Finian O’Shea, an industry ranked Wells Fargo Securities’ Private Credit and Business Development Company sector analyst, to discuss this complex asset class.
In a live call with advisors, Seix Investment Advisors’ Chief Investment Officer, Jim Keegan, provides his latest thoughts on Fed policy and the macro environment.
Michael Kirkpatrick, Managing Director and Senior Portfolio Manager at Seix Investment Advisors, shares his latest thoughts on the high yield market in an interview with Virtus’ Head of Distribution, Barry Mandinach.
In a conversation with Virtus’ Chief Market Strategist Joe Terranova, Duff & Phelps’ Co-CIO David Grumhaus discusses a bright spot in energy markets and makes the case for natural gas being an essential transitional fuel for years to come.
Kayne Anderson Rudnick CIO Doug Foreman offers insights on the firm’s high-quality investment approach and performance of the Virtus KAR Mid-Cap Growth Fund, including companies that have benefited from trends accelerated by the COVID-19 pandemic.
In a conversation with Virtus’ Chief Market Strategist Joe Terranova, Seix’s Head of Leveraged Finance, George Goudelias, addresses common questions about the loan market and where he sees potential opportunities.
Jim Keegan, Chief Investment Officer and Chairman of Seix Investment Advisors, sits down with Joe Terranova, Virtus’ Chief Market Strategist, to reflect on the second quarter and discuss his outlook for the markets and economy going forward.
Joe Terranova, Senior Managing Director and Chief Market Strategist at Virtus Investment Partners, discusses the latest market developments in an interview with Barry Mandinach, Executive Vice President and Head of Distribution.
KAR CIO Doug Foreman, CFA, talks with Joe Terranova, Virtus’ chief market strategist, about recent market events, the outlook for high-quality equities, and KAR portfolios.
David Albrycht, President and Chief Investment Officer of Newfleet Asset Management, discusses the four primary reasons markets have eased since the March 23 low, and where he identifies potential opportunities for the second half of 2020.
Ryan Jungk, Investment Grade Corporate Sector Manager, discusses why he believes the rally in investment grade spreads may not be over and may be on the path to set new record lows.
Duff & Phelps Investment Management’s Co-CIO David Grumhaus discusses the impact of COVID-19 on real assets, recent market volatility, and the opportunities and risks in Global Real Estate and Global Listed Infrastructure markets. Recorded June 17, 2020.
Joe Terranova, Senior Managing Director and Chief Market Strategist at Virtus Investment Partners provides timely insights on the global economy and markets, while providing perspective on portfolio positioning in the current environment.
George Goudelias, Managing Director, Head of Leveraged Finance, Senior Portfolio Manager, and Michael Kirkpatrick, Managing Director, Senior Portfolio Manager of Seix Investment Advisors, recently discussed how global market volatility has affected leveraged credit on a live call with advisors. George and Mike shared their views on where they are seeing risks—and potential opportunities—in the leveraged loan and high yield bond markets.
One in a series of Volatility in Perspective updates from Virtus affiliated managers discussing how the coronavirus crisis is affecting capital markets and their portfolios. KAR CIO Doug Foreman and portfolio managers Jon Christensen and Craig Thrasher offer perspective on the global volatility, how KAR’s quality-driven equity portfolios are faring, and field a range of questions on the impact of the pandemic on U.S. and international equities.
David Albrycht, President and CIO of Newfleet Asset Management, recently discussed the ongoing coronavirus situation and global market volatility on a live call with advisors.
We know that the outbreak of the coronavirus (COVID-19) is going to disrupt supply chains, reduce demand as well as slow economic activity and growth. All of these factors will have an impact on inflation.
As coronavirus fears rattle global markets, SGA remains focused on identifying sustainable growth businesses that can weather the storm and generate attractive revenue and earnings growth on a long-term basis.
Newfleet portfolio manager and high yield sector head Eric Hess, CFA, sits with Virtus chief market strategist Joe Terranova for a detailed discussion on the HY Energy sector. Eric and Joe review the last decade in the industry, factors that led to a decline in the sector, and where Newfleet is identifying opportunities while maintaining a cautious position
Senior Managing Director and Portfolio Manager Benjamin Caron, CFA, talks with Virtus Chief Market Strategist Joe Terranova about the factors that paved the way for strong fixed income returns in 2019, key performance drivers for the multi-sector strategies, and their views on energy and the changing dynamics of that market.
George Goudelias sits down with Virtus Chief Market Strategist Joe Terranova to discuss the loan market, economy and potential impacts of the Coronavirus, as well as a deeper dive into what he’s seeing in the technology and energy sectors.
Amid growing uncertainty, investors have shown greater interest in bond funds but must contend with a variety of risks as central banks around the world continue to implement unprecedented negative rate policies and the Federal Reserve remains accommodative. Here’s a guide to why active management matters.
A structurally flawed benchmark index has proven a fertile ground for active managers.
After the FOMC cut rates, Fed Chair Powell said nope to NIRP (negative interest rate policy). But a return to ZIRP (zero interest rate policy) and more QE/forward guidance seem inevitable.
The ten-year U.S. Treasury note yield recently fell below that of the two-year note for the first time since 2007. Should the yield curve stay inverted for an extended period, it is clearly a negative development for economic growth. Kayne Anderson Rudnick (KAR) believes the yield curve tends to be a more accurate forecasting tool than many economists or Wall Street strategists, and should prompt the Fed to extend rate cuts.