It’s been a minute since we focussed on PE and retirement plans. To dive into this I have Dan Cahill of the private equity firm Partners Group, one of two firms that took the initiative to seek guidance from the DOL on the utilization of PE in 401(k) plans. We dive right into, what the significance of the information letter in 2020 was, what has transpired since then, the investment case for and against PE and how plaintiff’s attorneys are viewing things.

A lot of great stuff, I learned a lot, hope you do as well.

Guest BIo

Daniel Cahill is part of the Client Solutions Americas business unit, based in New York. He is responsible for fundraising and business development for Partners Group's strategic US DC initiative. He has 19 years of industry experience. Prior to joining Partners Group, he worked at Neuberger Berman, where he was most recently in charge of strategic planning and business development for both retirement and subadvisory platforms. Before Neuberger, he worked at Putnam Investments where he served as relationship manager interfacing with intermediary platforms, mainly in the private bank and wirehouse space. He holds an MBA and a Master of Science in Finance from the Carroll School at Boston College as well as a bachelor's degree in finance from Boston College, Massachusetts, USA. He is also a CAIA charterholder.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 250 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode every other Friday!

It seems like the major themes that are dominating the investment markets are also of great interest to individuals trying to make decisions personally or in their businesses. That isn’t always the case. I couldn’t think of a better person to wade through this with me than a perennial podcast favorite Rob Arnott, Founder and Chairman of Research Affiliates. As usual, Rob packages his enthusiasm, excellent communication, and insights in a way that should help you think through current trends and how they could impact you, your business and even a few items on your 401(k). Hope you enjoy!

Guest BIo

Rob Arnott is founder and chairman of the board of Research Affiliates. Rob plays an active role in the firm’s research, portfolio management, product innovation, business strategy, and client-facing activities. He is a member of the Investment Committee and the Executive Committee of the board. With Chris Brightman, he is co-portfolio manager on the PIMCO All Asset and All Asset All Authority funds and the PIMCO RAE™ funds.

Over his career, Rob has endeavored to bridge the worlds of academic theorists and financial markets, challenging conventional wisdom and searching for solutions that add value for investors. He has pioneered several unconventional portfolio strategies that are now widely applied, including tactical asset allocation, global tactical asset allocation, tax-advantaged equity management, and the Fundamental Index™ approach to investing. His success in doing so has resulted in a reputation as one of the world’s most provocative practitioners and respected financial analysts.

In 2002, Rob founded Research Affiliates as a research-intensive asset management firm intent on delivering innovative and impactful products and insights.

Prior to establishing Research Affiliates, Rob was chair of First Quadrant, LP, which he built up from the former internal money manager for Crum & Forster into a highly regarded quantitative asset management firm.  He also was global equity strategist at Salomon Brothers (now part of Citigroup), the founding president and CEO of TSA Capital Management (now part of Analytic Investors, LLC), and a vice president at The Boston Company.

Rob has published more than 130 articles in such publications as the Journal of Portfolio Management, Harvard Business Review, and Financial Analysts Journal, for whom he served as editor in chief from 2002 through 2006. Rob has received eight Graham and Dodd Scrolls, which are awarded annually by CFA Institute to the top Financial Analysts Journal articles of the year. He also has received four Bernstein Fabozzi/Jacobs Levy awards from the Journal of Portfolio Management. He is co-author of The Fundamental Index: A Better Way to Invest (Wiley 2008).

Rob received a BS summa cum laude in economics, applied mathematics, and computer science from the University of California, Santa Barbara.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 250 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode every other Friday!

Bonds, or fixed income investments did not have a great year in 2022 to say the least. The big question is now what? To delve into that, I am excited to have Michael J. Collins, CFA, and Managing Director and Senior Portfolio Manager for Core, Core Plus, Absolute Return, and other Multi-Sector Fixed Income strategies at PGIM. We start with commentaries on performance, then move to interest rates, different areas of the bond market and most importantly, what, if anything plan sponsors should be doing in their 401(k) or workplace retirement plans. Also, Michael mentions the graph below, you'll have to listen to get the proper perspective. That’s it, I hope you enjoy!

Guest BIo

Michael J. Collins, CFA, is a Managing Director and Senior Portfolio Manager for Core, Core Plus, Absolute Return, and other Multi-Sector Fixed Income strategies. Previously, Mr. Collins was a High Yield Portfolio Manager and Fixed Income Investment Strategist. Earlier he was a credit research analyst, covering investment grade and high yield corporate credits. Additionally, he developed proprietary quantitative international interest rate and currency valuation models for our global bond unit. Mr. Collins began his career at the Firm in 1986 as a software applications designer. He received a BS in Mathematics and Computer Science from Binghamton University and an MBA in Finance from New York University. Mr. Collins holds the Chartered Financial Analyst (CFA) designation and is a Fellow of the Life Management Institute (FLMI). He currently serves as the Treasurer on the Board of CEA, a non-profit that provides education and employment for people with disabilities.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 250 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode every other Friday!

If you are at all involved with workplace retirement plans, you would have to have been living under a rock to have not heard about SECURE 2.0. It is a hot topic, while also ambitious and even confusing. With all those factors, I couldn’t think of a better person to join me to wade through all this than Alison Cohen, Partner at the Ferenczy Benefits Law Center. We do cover a lot ground today so get ready. Also, while there has been a lot announced, keep in mind many new provisions don’t go into affect for one or more years and we still will need guidance from the IRS or others to answer many basic and logical questions.

Guest Bio