Gain valuable insight into wealth advisory topics, portfolio construction, capital market assumptions, and market performance
Market Commentaries
USD August Market Performance
Equity markets (MSCI ACWI Index) declined by 2.8% in USD during August. Declines were widespread across all major regions and style factors.
CAD August Market Performance
The CAD depreciated by 2.4% vs. the USD during the month.
CAD July Market Performance
The CAD strengthened by 0.4% vs. the USD during the month.
USD July Market Commentary
Equity markets (MSCI ACWI Index) continued to appreciate strongly and were up 3.7% in July in USD. Once again, gains were widespread across all major regions and style factors.
Drivers Behind SVB’s Collapse
SVB benefitted tremendously from the Silicon Valley landscape boom, but invested heavily in Treasury and mortgage-backed securities to earn a spread on these deposits. However, these securities had interest rate risk and would lose value on a mark-to-market basis if interest rates rose.
Silicon Valley Bank Event
SVB, the 10th largest US bank, was shut down by regulators due to insolvency on Friday March 10, 2013. The bank had a classic mismatch in its assets and liabilities, including a significant amount of deposits from Silicon Valley start-ups and high-growth technology and healthcare companies.
CAPITAL REVIEW
2023 Quarter 2
Global equity markets (ACWI Index) rose by 6.2% in Q2 and gained 16.7% YTD through July 14, 2023, with US stocks leading the rally due to optimism in tech companies, decreased inflation, positive economic data, and the resolution of the regional banking crisis. International equities had a less impressive performance, while fixed-income markets experienced modest declines and hedge funds saw moderate gains in Q2.
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White Papers
Risk Buckets and Risk Utilization
Asset-class weightings do not necessarily convey portfolios’ true underlying risk characteristics. Therefore, we believe Risk Buckets and Risk Budget Utilization are better frameworks to measure portfolio risk vs. expected return, and to better construct adaptable portfolios across various market environments.
Thinking Broadly About Exit Planning
Managing and optimizing various types of Exit transactions in the context of preparing for capital deployment to support your next phase of life.
How to Create, Organize and Coordinate the Ecosystem
Understand the key functions of Family Offices: which aspects are best suited to highly qualified third-party providers and which to dedicated staff. Some ways to think critically about directing and coordinating a family office network.
Typical Needs of Wealthy Investors
While each individual or family has a unique mix of goals and requirements, they frequently share a need for planning and investment expertise and resources, and other support. Forward-looking, wise management is the most commonly needed ingredient.
Nearing an Exit: Questions to Ask Yourself and Others
For those beginning to think about the sound management of wealth, possibly around an exit from a large investment, the following outlines some questions we
Strategic Asset Class Forecast Methodology (Oct 2022)
White paper on the methodology behind BCA’s 7-yr Capital Markets Assumptions. Updated as of October 2022, with respect to strategic asset class return forecasts.
