Perspectives Blog

The case for active muni management

Kimberly Campbell, Senior Portfolio Manager | April 21, 2014

…ave no defensive measures to protect returns when the market declines. However, it is 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 o…

The case for active bond management

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

…and inefficiencies of the fixed income market create both difficulties for indexing and opportunities for active management. Over the long term, the benefits of portfolios actively managed by skilled portfolio managers have been shown to outweigh the higher fees typically associated with active management. When deciding whether to use active or passive funds for their fixed income allocation, investors should consider whether they are saving penn…

2015 Outlook — Same song, slightly different arrangement

Jeffrey Knight, CFA, Global Head of Investment Solutions and Asset Allocation | December 15, 2014

We are as convinced as ever that equities have a significant advantage over other asset classes based on valuation. Managing the risk of simultaneous drawdown across asset classes requires a process to actively de-risk portfolios and a methodology for diagnosing the conditions to trigger such a step. To manage risk and stabilize portfolio values in case equities do not perform well, we favor non-traditional diversifiers, explicit downside hedge…

Digital dining: How restaurants are applying technology to drive sales

Daniel Spelman, Equity Analyst | February 24, 2014

…to have a head start. In addition to driving sales, these investments also help on the back end by reducing food waste, improving labor management and broadly capitalizing on scale. By combining loyalty, payments, convenience and efficiency gains, restaurants are learning that not all successful innovation has to come from the kitchen. Sources: Company documents/earnings transcripts, Olo, Ziosk, Crone Consulting and National Restaurant Associatio…

Corporate governance – The next catalyst for Japanese equities

Daisuke Nomoto, Senior Portfolio Manager | August 4, 2014

…ness the power of private enterprise is critical to Japan’s growth strategy. Better engagement between corporate management and shareholders should ultimately lead to higher returns for holders of Japanese equities. We are focused on companies that can generate sustainable free cash flow, earn returns well above their cost of capital and regularly conduct shareholder friendly capital management. A critical aspect of Japan’s growth strategy is ov…

The three tax thresholds of the new tax regime

Abram Claude, Vice President, Columbia Management Learning Center | November 3, 2014

New tax rates and provisions became effective in 2013. These taxes will impact many high income individuals, as well as certain estates and trusts. The Columbia Management Learning Center is dedicating a series of blog articles to this important and timely “Navigating the New Tax Regime” topic. In 2013, there were new tax rates and provisions that became effective as a result of the American Taxpayer Relief Act of 2012 and taxes associated wit…