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In this issue of Stable Value Analyst Insights, we provide a summary of the key amendments adopted by the U.S. Securities and Exchange Commission (SEC) to the money market fund rules.
 
Founding Managing Partner, Karl Tourville discusses how stable value has a proven track record of providing attractive, consistent performance over a variety of market cycles and economic conditions—even in a rising rate environment.
 
In this issue of
Fixed Income Perspectives:
Galliard’s Chief Investment Strategist, Richard Merriam, and Taxable Municipal specialists, Brandon Kanz and Will Moeller, discuss Galliard’s perspective and differentiators in the municipal space.
 
More than 230 institutional investors rely on Galliard for the successful management of their fixed income and stable value investments. Over the years, our clients recognize that Galliard has consistently adhered to a proven investment philosophy and has delivered expected results.
Learn more about Fixed Income and Stable Value at Galliard.

News

STATISTICS AS OF 6/30/16

  • Assets under
    management:
    Over $88.8 billion
  • Over 242 institutional clients nationwide

ECONOMIC UPDATE

  • Q1 GDP was a modest +1.1%; we still expect 2016 GDP growth should manage 2%.
  • Sluggish global growth and modest U.S. inflation pressures will limit Fed hikes in 2016.

MARKET REVIEW

  • Brexit vote shakes already unsteady global growth outlook – global government yields plummet, safe haven currencies rally.
  • U.S. spread sectors manage to keep up with Treasury rally as global demand for yield pushes prices higher, spreads lower.

Money Market Reform Spurs Renewed Interest in Stable Value

Money Market Reform coverMONEY MARKET FUND REFORM has altered the capital preservation landscape and has led to a renewed interest in stable value from defined contribution plan sponsors who utilize money market mutual funds (or “money market funds”). In this issue of Stable Value Analyst Insights, we provide a summary of the key amendments adopted by the U.S. Securities and Exchange Commission (SEC) to the money market fund rules. We also highlight key differences between money market funds and stable value funds. Lastly, we revisit the compelling case for stable value as a defined contribution capital preservation option. The SEC amendments to the money market fund rules did not directly impact stable value. However, we believe the impact of reform on money market funds further strengthens the case for stable value as an optimal principal preservation choice compared to money market funds.

Read Money Market Reform and Stable Value

 

Stable Value Masterclass Video on Asset TV, October 2015

Karl Tourville, Founding Managing Partner of Galliard Capital Management, along with two other industry experts, Warren Howe of MetLife and Jim King of Prudential, participated on an Asset TV Masterclass panel discussing stable value. Watch the video to learn more about the stable value asset class, how stable value performs with respect to rising interest rates, and what plan sponsors can expect from stable value in the current market environment.

Click below to watch the video on Asset.TV

Masterclass video

 

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