These publications, authored by Fiduciary professionals, provide our clients with a timely, strategic view on the investment markets, the economy and related topics.
Spring 2008
Hedge Funds: An Overview of this Alternative Asset Class
The volatility of today's markets has many investors a bit anxious about their investment portfolios. In anticipation of such volatile markets, we have been adding a broad range of asset classes to our clients' portfolios - including hedge funds. In this issue of the Fiduciary Perspecitve, our feature article provides an overview of this alternative asset class including: what they are, why invest in them, and the types of hedge funds we recommend for inclusion in our clients' portfolio to help reduce overall risk as well as to enhance returns.
Winter 2008
Open Architecture: Access To Top-Tier Investment Managers
Our Winter 2008 is the inaugural edition of our newly enhanced publication, Fiduciary Perspective. This issue’s feature article focuses on open architecture investing—an approach we employ to construct customized portfolios incorporating a broad range of investment strategies across tradition and alternative asset classes. We’ve added our Market Commentary as well as New and Notes, which will provide you with an inside look at what going at the firm and newsworthy information that may impact your financial situation.
Fall 2007
Climate Change: Its Impact on Business and the Investment Community
The topic of climate change is getting a great deal of coverage by the media. In this issue of the Perspective, we look at the challenge and opportunity climate change poses to business and the investment community. How are greenhouse gas emissions measured? What type of regulation is being considered and how is corporate America responding? These are all important questions for investors and ones we, at Fiduciary, incorporate into our investment thinking and recommendations.
Winter 2007
2007 Outlook
This issue of the Perspective revisits our wise duo, Mr. Taurus and Mr. Ursus, the mythical bull and bear members of Fiduciary’s Investment Committee. These two entertained us last year with their bullish and bearish view of the markets and economy as well as their outlooks for 2006. While our fictitious Investment Committee members once again discuss the international economy and domestic scene, they also address how the growth in liquidity impacts both domestic and international economies.
Fall 2006
Investing Overseas
Earlier this fall, Fiduciary Trust held a reception and symposium where four of our investment professionals presented to clients and friends of the firm why investors need to look beyond U.S. equities and fixed income securities, including international stocks and bonds, commodities/managed futures and hedge funds. This issues of the Fiduciary Perspective supports the case why adding international stocks and bonds to a well-balanced portfolio increases the opportunity for greater return while reducing volatility, thereby improving the risk/return characteristics of a portfolio.
Spring 2006
Estate Planning for Art, Antiques and Personal Property
Fiduciary Trust Company recently hosted a special event for its clients and friends with Skinner, Inc. titled “America’s Best At Auction: Current Collecting Trends in American Art. To follow up on this discussion of art and antiques, Stacy Mullaney, Vice President and Trust Counsel at Fiduciary, has written an article for the Fiduciary Perspective. In this issue, she focuses on the financial, tax, and emotional issues associated with including art, antiques, and other personal property in a comprehensive estate plan.
Winter 2006
2006 Outlook
This issue of the Perspective reviews where the markets and the economy have been during 2005 and, more importantly, where they may be headed in 2006. It’s author, Chris White, who heads the firm’s Alternative Investment Committee, wrote this piece as a discussion between two fictitious members of our Investment Committee—appropriately named Mr. Taurus (the bull) and Mr. Ursus (the bear). We’re sure you will enjoy reading this lively debate.
Fall 2005
Meeting Income Needs in a Low Interest Rate Environment
Are you concerned about your portfolio’s ability to generate sufficient income requirements in the current market environment? This issue of the Perspective addresses this question and explores why we believe that risk management and cash flow requirements can be satisfied best over the long term by diversifying assets across a balanced portfolio and adopting a total return approach where permitted.
Summer 2005
The Alternative Minimum Tax: Not So Alternative and Not So Minimum
When preparing their income tax returns, many people are finding that they are required to pay the AMT. In particular this tax is affecting upper-income individuals and those living in states that impose high taxes. In this Perspective we briefly outline the evolution of the AMT and the challenge Congress faces in trying to fix it. We then explain the financial impact that the AMT has on individuals who are subject to it, and describe the AMT planning ideas that are most relevant for our clients.
Spring 2005
Parting is such Such Sweet Sorrow
While the buy decision is often difficult to make, the real challenge can be in deciding to jettison a stock. This Perspective addresses the psychological issues surrounding investing — specifically, the attitudes and behaviors of investors when selling “winners” and “losers.” Known as behavioral economics, this area of research in psychology and investing is generating tremendous discussion in academic and professional circles.
Winter 2005
Concentrated Holdings: Understanding and Managing the Risks
This Perspective discusses the subject of concentrated holdings in investment portfolios. We first frame the discussion in terms of the current capital gains tax rates. We then examine the risks posed by having a concentrated holding, the rewards to be gained from reducing the holding and various strategies for managing this reduction.
Fall 2004
Fiduciary Trust:Yesterday,Today and Tomorrow.
An interview with Doug Smith-Petersen,President and CEO
Doug Smith-Petersen has been with Fiduciary Trust since 1973. He became Chief Operating Officer in 2000 and was named President and Chief Executive Officer in 2002. The Perspective met with him in late summer and asked him how recent changes at Fiduciary fit with the future direction of the firm.