A MESSAGE FROM DELEGATE REGARDING COVID-19

This first letter of 2017 will present an outlook for what we believe to be the most important economic and investment themes for the year ahead. Additionally, this letter will incorporate information from our annual Global Economic Outlook and Asset Class Assumptions presentation (available upon...

Over the past 30 years, three forces have largely been responsible for relatively high global GDP growth. First, interest rates have steadily declined since the highs of the 1980s, providing a constant and strong tailwind to the global economy and causing virtually all capital assets...