Perspectives Blog

Obamacare’s insurance exchanges

Columbia Management, Investment Team | December 9, 2013

…by institutions – employers, insurance brokers, insurance companies – rather than federal and state governments. The unknown, but promising, size and rate of this migration has elevated shares of insurance brokers and managed care companies and pressured others’, such as pharmacy benefit managers (PBMs), which face profit margin risk despite offering more restrictive pharmacy benefits such as narrow retail networks, restrictive drug formularies,…

The importance of being transparent

Harlan Sonderling, CFA, Senior Healthcare Analyst | December 2, 2013

Transparency is emerging as a powerful force in improving healthcare outcomes and increasing access to care. The growth of consumer financial responsibility is now estimated at 41% for large corporate plans. Consumer education has never been more important in healthcare than now. President James A. Garfield survived an assassin’s bullet in 1881, only to die several months later of complications from the infection that developed from his doctor…

Should investors care about valuation?

Rich Rosen, Portfolio Manager | November 25, 2013

Is valuation an effective tool for deciding on whether to invest in a stock? We look at other drivers of a stock’s worth Earnings and earnings growth could be more useful in evaluating a stock’s worth Many of the market experts paraded around on the business programs, when asked about their forecast for stocks, often begin with a comment about valuation. But really, how effective is valuation as a gauge for determining whether it is a good tim…

European equities – Should investors care about periphery vs. core anymore?

Dan Ison, Portfolio Manager | January 13, 2014

The more dramatic the economic reforms, the better the stock market performance in the eurozone We expect nominal growth to be the key driver of an improving earnings picture in Europe European equities should show further good returns to investors in 2014 As we enter 2014 there are the usual questions, conversations and strategy pieces extolling the virtues of different regions and asset classes. 2013 saw a phoenix-like resurgence in interest…

The case for active bond management

Carl Pappo, Head of Core Fixed Income | August 25, 2014

…cting any mutual fund, investors must consider the various asset classes, investment objectives, risk profiles and tax implications among other key factors. A critical decision investors must make is choosing between actively managed and passively managed funds. There is currently $2.9 trillion invested in taxable bond mutual funds, including ETFs, of which $2.3 trillion is actively managed (Morningstar, June 2014). In this article, we will evalu…

The three tax thresholds of the new tax regime

Abram Claude, Vice President, Columbia Management Learning Center | September 11, 2013

…ng the New Tax Regime” topic, which will appear here over the next seven weeks. In 2013, there are new tax rates and provisions as a result of the American Taxpayer Relief Act of 2012 and taxes associated with the Affordable Care Act of 2010. Among them are three distinct thresholds that investors could cross over, each with unique tax implications. The first threshold triggers the two surtaxes related to the Affordable Care Act of 2010. Crossin…

The case for active muni management

Kimberly Campbell, Senior Portfolio Manager | April 21, 2014

…our conviction that active management, with the support of a deep investment management bench, can provide investors with a better risk/reward opportunity, especially in today’s unpredictable investment environment. Actively managed portfolios provide investors with the opportunity to outperform their benchmarks by relying on the investment expertise of a team of portfolio managers, credit analysts and traders. The investment team provides clien…