Restoring Balance: A Timely Opportunity to Reallocate – NYL Investment – 4.27.23

Summary:

Now On Demand

This macroeconomic era is unlike any other in history. How can investors position their portfolios to minimize risk and maximize opportunity amid such intense uncertainty? In our view, higher rates, portfolio drift, changing stock-bond correlation, and recent price action all point to an opportunity: rebalancing. That’s right, the traditional 60/40 portfolio is not dead, but a new macroeconomic regime calls for some upgrades. Tune in to hear seasoned experts from New York Life Investments, Wellington Management, and MacKay Shields discuss their high-conviction asset allocation ideas for today’s new normal.

Discussion Topics:

• Key challenges for investors in our new macroeconomic regime
• Remaining invested amidst volatility and uncertainty
• High conviction opportunities: value equity and high yield bonds
• Portfolio reallocation and the timely opportunity to rebalance

Speakers:

As a portfolio advisor with Wellington Management, Clinton works closely with portfolio managers as well as the firm’s macroanalysts and asset allocation strategists to articulate the firm’s investment strategies to clients and prospects. Within the Portfolio Advisor Group, he covers a variety of strategies and asset classes, including equities, alternatives, and fixed income. He represents the firm’s global investment capabilities and advises clients, prospects, and consultants on global investing issues.

Prior to joining Wellington Management in 2014, Clinton was a vice president in the Global Markets Division at Barclays and head of Trading Risk for Agency Derivatives Services in the Americas. Before Barclays, he cofounded the partnership Royalty Capital Advisors. Previously, he was an investment banker in the Private Capital Markets group at Lehman Brothers.

Clinton earned his MBA in finance from the University of Pennsylvania (Wharton) and his BA in economics, cum laude, from Harvard University.

Nate Hudson is a Managing Director on the High Yield Team, where he follows the automotive and services sectors. Prior to joining MacKay Shields in 2008, he was a Senior Analyst of High Yield Credit in Strategic Capital’s (White Ridge Advisors) proprietary investment group at Banc of America Securities. Previously, he was a sell-side High Yield Analyst at Banc of America Securities and a High Yield Credit Analyst at Nomura Corporate Research & Asset Management (NCRAM).

Nate received a BA from Yale University and is a CFA Charterholder. He has been working in the investment industry since 1991.

Lauren, an Economist and Director of Portfolio Strategy at New York Life Investments, was named a 2020 Business Insider Rising Star of Wall Street.* Her Multi-Asset Solutions team manages a combined $8.4B in assets (as of 9/30/22), including MainStay’s Income Builder Fund, Asset Allocation ETFs, and bespoke investment solutions.

Lauren’s work focuses on mapping global macro and capital markets trends to asset management strategy. She is responsible for economic and market research, asset allocation, and thought leadership, providing regular insights through multi-media coverage and as host of the firm’s economic and market podcast, Market Matters. Lauren regularly represents firm at conferences and as spokesperson in television and print media outlets such as: Bloomberg, CNBC, the New York Times, Nikkei and Barron’s.

Lauren authored the CFA Institute’s curriculum on Geopolitical Risk (“Introduction to Geopolitical Risk”).

Prior to joining the firm, Lauren held economist positions at JPMorgan, Wells Fargo, Frontier Strategy Group, and the OECD. She is a CFA Charterholder, graduated summa cum laude from the University of Southern California and holds a master’s degree in international economics from Johns Hopkins.