Schultz Collins Lawson Chambers, Inc. - SCLC

Investing in International Bonds: Risks & Rewards

Mon, 12 Dec 2011 17:40:22 -0800

Synopsis:

Non-US bonds are increasingly popular with investors trying to control the risk of domestic bond positions by diversifying. But international bonds carry some risks to American investors. For example, a British bond might appreciate handsomely when valued in pounds sterling. But if over the same period the pound sterling falls relative to the US dollar, the net effect for an American investor might be negative. As a result, bond mutual funds are often sold in two flavors, one hedged against this currency risk, the other not.

Which sort of fund is right for which sort of investor? What other factors should influence an investor’s decision about foreign bonds?

Revisiting TIPS

Wed, 19 Oct 2011 00:13:18 -0700

Synopsis:

A retrospective on Treasury Inflation-Protected Securities, bonds that were first sold by the U.S. Treasury in 1997, that examines their behavior during the financial crises of the first decade of the new millennium, and examines three different types of TIPS funds to discover the pros and cons of each.

ALI-ABA Presentation

Mon, 8 Aug 2011 21:37:25 -0700

Synopsis:

My recent presentation at the Chicago ALI-ABA conference on Representing Estate and Trust Beneficiaries and Fiduciaries is available below.

The title of the presentation is “Managing Modest-Sized Family Trust Portfolios: Issues in Income Adequacy and Portfolio Sustainability.” Documents include a PowerPoint slide presentation plus supplemental commentary.

Banking Law Journal: Trustee Asset Management Elections

Wed, 23 Feb 2011 18:24:21 -0800

Synopsis:

The full title of the paper published in two parts in the February and March, 2011 issues of the Banking Law Journal is: Trustee Asset Management Elections: Portfolio Performance Evaluation and Preferencing Criteria. What on Earth is a preferencing criterion, and why should we care? Patrick discusses the effect that different measures of portfolio behavior can have on portfolio management decisions.

Insurance Demand

Fri, 1 Apr 2011 13:32:28 -0800

Synopsis:

This paper addresses the demand to hold life insurance in retirement where the investor makes the retain or surrender decision concurrently with the asset allocation decision. This paper was co-authored by Patrick J. Collins and Huy D. Lam. It is in the process of being reviewed for publication.

Prudent Administration of Testamentary Trusts

Thu, 20 Jan 2011 19:39:42 -0800

Synopsis:

If you are involved in the administration and management of trust-owned assets—either actively or in your capacity as legal counsel the document attached below entitled: “Managing Trust Investments: An Interactive Decision Making Process” may be of interest.

Trustee Asset Management Elections: Portfolio Performance Evaluation and Preferencing Criteria

Wed, 16 Feb 2011 17:42:09 -0800

Synopsis:

The relevant period for investment decision making is the future. Evaluation of an investment’s track record can provide information regarding its performance in past economies. However, a trustee must develop a portfolio to meet future needs. Confusing past track record (performance measures) with strategies appropriate for future needs (preferencing criteria) can derail an investment program.

Investment Basics: Asset Allocation, Diversification and Correlation

Fri, 1 Apr 2011 13:33:54 -0800

Synopsis:

A review of the most important things investors should understand about Asset Allocation, Diversification and Correlation.

Managing Retirement Portfolio Withdrawals in Turbulent Times

Fri, 23 Jan 2009 15:00:44 -0800

Synopsis:

Investors withdrawing money from their portfolios are often concerned about the “probability of ruin,” where ruin is defined as the depletion of the portfolio prior to either a fixed date, or prior to a random date such as the end of retirement (i.e., the end of one’s lifetime). Read this article to gain insight on how to manage those needs with the reality of today’s volatile markets.

Static vs. Dynamic Investment Policy Statements

Fri, 11 Dec 2009 16:27:04 -0800

Synopsis:

This article was co-written by Patrick Collins and Josh Stampfli. It was published in the December 2009 issue of the Banking Law Journal.

Safety First: Protected Investment Products

Fri, 1 Apr 2011 13:37:41 -0800

Synopsis:

A review and analysis of Equity Indexed Annuities, which have become incredibly popular among insurance agents in the last few years (because no securities license is needed to sell them).

What Trustees Should Know about Asset Management Approaches and Rebalancing Elections

Tue, 27 Oct 2009 15:33:34 -0800

Synopsis:

This article was co-written by Patrick Collins and Josh Stampfli and published in the November/December 2007, Wealth Strategies Journal.

What Trustees Should Know about Asset Management Approaches and Rebalancing Elections

Life-Cycle Funds and Retirement Savings Elections

Wed, 19 Sep 2007 10:44:04 -0700

Synopsis:

Life Cycle funds are becoming more and more popular in the retirement savings investment community. Read more about how they are constructed and used in this article, originally published in Retirement Counseling, Society of Financial Service Professionals (June 2006).

Trustee Administration of Life Insurance

Wed, 19 Sep 2007 10:26:14 -0700

Synopsis:

This is a four part series on the administration of life insurance as an asset of trust. It was published in “The American College of Trust and Estate Journal.” ACTEC

Article 1) Trustee Administration of Life Insurance;
Article 2) Standards of Prudence and Management of the Insurance Portfolio;
Artile 3) Evidencing Care, Skill and Caution in The Management of ILITs; and
Article 4) ILIT Asset Management: The Written Investment Policy Statement.

Without More: Trust Investment Manager Selection and Retention Policy

Thu, 26 Jun 2008 15:25:04 -0700

Synopsis:

Selecting actively managed investment strategies for all, or a portion, of trust assets can be difficult. Herein we describe the process of identifying superior active managers, and metrics fiduciaries could use to document the prudence of their manager selection process.