Filippo Ilardi, Managing Director and Head of Wholesale Americas at UBS Asset Management, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss public and private credit markets.
The Credit Investments Group (CIG) at UBS Asset Management has offered solutions to RIAs for a number of years. The founders of this group have been working together since 1992. The group focuses on below investment grade credit, such as senior loans, high yield debt, CLOs, and private credit. Ilardi’s clients today, especially older clients, are looking to generate yields.
UBS AM has been offering tax-optimized active strategies for over 13 years, now reaching $30 billion in AUM. Ilardi states that advisors and their clients should think about taxes year-round and combine direct indexing with active management, while searching for tax opportunities across all accounts for each client.
Ilardi notes that it is important for clients to maintain liquidity in their credit portfolio in times of market volatility. UBS AM offers some investment products on the Envestnet models platform.
Resources:
Alternative Credit Capabilities
Disclosures
Risk consideration
Valuation risk. During periods of reduced market liquidity or in the absence of readily available market quotations for securities in the portfolio, the ability to value the portfolio’s securities becomes more difficult and the judgment of UBS Asset Management (Americas) LLC or its affiliates may play a greater role in the valuation of the portfolio’s securities due to reduced availability of reliable objective pricing data. Consequently, while such determinations may be made in good faith, it may nevertheless be more difficult for the portfolio to accurately assign a daily value to such securities.
Past performance is no guarantee of future results. Potential for profit is accompanied by possibility of loss. Any statements made regarding investment performance objectives, risk and/or return targets shall not constitute a representation or warranty that such investment objectives or expectations will be achieved.
Although Personalized Tax Management (PTM) is designed to make tax-aware trades, potential benefits of PTM will vary based on changes in federal tax rules or rates, or your own financial/tax circumstances. UBS Asset Management (Americas) LLC cannot guarantee that the application of PTM will result in reducing or causing the estimated tax liability of your tax-managed account or your aggregate tax liability to net to zero. Neither UBS Asset Management (Americas) LLC nor UBS Financial Services Inc. provides tax advice on clients accounts. Consult your tax advisor. This material is not intended to provide, and should not be relied upon for, accounting, legal or tax advice, or investment recommendations.
As of April 9, 2025.