Karyn Williams thinks that we need to talk about risk differently.  More simply — in terms we all understand.  She has built a world-class, independent risk platform and turned traditional mean-variance approaches on their head.  This is Part 1 of a series on risk management.  Meet Karyn Williams, the Queen of Risk.

Real estate is one of the asset class most obviously impacted by the COVID-19 Pandemic.  David Roth, Partner and Head of Real Estate Private Equity at Ares Management, separates winners from losers and gives a compelling vision for real estate’s road ahead. 

Disclaimer

These materials are neither an offer to sell, nor the solicitation of an offer to purchase, any security, the offer and/or sale of which can only be made by definitive offering documentation. Any offer or solicitation with respect to any securities that may be issued by any investment vehicle (each, an “Ares Fund”) managed or sponsored by Ares Management LLC or any of its subsidiary or other affiliated entities (collectively, “Ares Management”) will be made only by means of definitive offering memoranda, which will be provided to prospective investors and will contain material information that is not set forth herein, including risk factors relating to any such investment.  Any such offering memoranda will supersede these materials and any other marketing materials (in whatever form) provided by Ares Management to prospective investors. In addition, these materials are not an offer to sell, or the solicitation of an offer to purchase securities of Ares Management Corporation (“Ares Corp”), the parent of Ares Management. An investment in Ares Corp is discrete from an investment in any fund directly or indirectly managed by Ares Corp. Collectively, Ares Corp, its affiliated entities, all underlying subsidiary entities shall be referred to as “Ares” unless specifically noted otherwise. Certain Ares Fund securities may be offered through our affiliate, Ares Investor Services LLC (“AIS”), a broker-dealer registered with the SEC,  and a member of FINRA and SIPC.

In making a decision to invest in any securities of an Ares Fund, prospective investors should rely only on the offering memorandum for such securities and not on these materials, which contain preliminary information that is subject to change and that is not intended to be complete or to constitute all the information necessary to adequately evaluate the consequences of investing in such securities. Ares makes no representation or warranty (express or implied) with respect to the information contained herein (including, without limitation, information obtained from third parties) and expressly disclaims any and all liability based on or relating to the information contained in, or errors or omissions from, these materials; or based on or relating to the recipient’s use (or the use by any of its affiliates or representatives) of these materials; or any other written or oral communications transmitted to the recipient or any of its affiliates or representatives in the course of its evaluation of Ares or any of its business activities. Ares undertakes no duty or obligation to update or revise the information contained in these materials.

The recipient should conduct its own investigations and analyses of Ares and the relevant Ares Fund and the information set forth in these materials. Nothing in these materials should be construed as a recommendation to invest in any securities that may be issued by Ares Corp or an Ares Fund or as legal, accounting or tax advice. Before making a decision to invest in any Ares Fund, a prospective investor should carefully review information respecting Ares and such Ares Fund and consult with its own legal, accounting, tax and other advisors in order to independently assess the merits of such an investment.

These materials are not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.

These materials contain confidential and proprietary information, and their distribution or the divulgence of any of their contents to any person, other than the person to whom they were originally delivered and such person's advisors, without the prior consent of Ares is prohibite

Bill and Peter talk about markets in a post-COVID-19 world including the likely impact from all the monetary and fiscal stimuli put in place to soften the pandemic’s economic blows.  They also bring some very interesting perspectives on the insurance industry, both life and P&C, and how COVID-19 may impact their respective industry’s going forward.

Craig Stapleton makes the case for a permanent allocation to an equity stabilization strategy using hard data to challenge traditional views of the relationship between risk and return.  Craig’s is part of a growing body of work that makes a strong case for re-considering our default asset allocation methodologies.

The term “solutions” can mean a lot of things to a lot of different people. In this podcast, Lowell Yura, Head of Multi-Asset Solutions at T. Rowe Price, explores what makes their solutions both unique and effective. Yura’s team, built of backgrounds ranging from actuaries to risk managers, is fully equipped to design solutions, perform diagnostics, and provide insights for a wide range of clients. Listen to learn more about this diverse team and their iterative approach.

Emerging Market Debt is one of the most talked about asset classes in fixed income today.  Tom Smith brings his decades of experience and gives us a master class on the current state of the market as well as its evolution over the past 25 years.  He also talks about MIM’s long-term commitment to having boots on the ground in the regions where they invest.  

 

Disclosure

This article has been prepared in conjunction with MetLife Investment Management (“MIM”)1 solely for informational purposes and does not constitute a recommendation regarding any investments or the provision of any investment advice, or constitute or form part of any advertisement of, offer for sale or subscription of, solicitation or invitation of any offer or recommendation to purchase or subscribe for any investments or investment advisory services. The views expressed herein do not necessarily reflect, nor are they necessarily consistent with, the views held by, or the forecasts utilized by, the entities within the MetLife enterprise that provide insurance products, annuities and employee benefit programs. Subsequent developments may materially affect the information contained in this article. Affiliates of MIM may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives) of any company mentioned herein. This article may contain forward-looking statements, as well as predictions, projections and forecasts of the economy or economic trends of the markets, which are not necessarily indicative of the future. Any or all forward-looking statements may turn out to be wrong. All investments involve risks including the potential for loss of principle.

 1 MIM is MetLife, Inc.’s (“MetLife”) institutional management business and the marketing name for subsidiaries of MetLife that provide investment management services to MetLife’s general account, separate accounts and/or unaffiliated/third party investors, including: Metropolitan Life Insurance Company, MetLife Investment Management, LLC, MetLife Investment Management Limited, MetLife Investments Limited, MetLife Investments Asia Limited, MetLife Latin America Asesorias e Inversiones Limitada, MetLife Asset Management Corp. (Japan), and MIM I LLC.

Join Andrew and me where we discuss current investment issues facing insurers, the regulatory environment and the likely direction of fund flows as we move forward.  His engaging personality and decades of experience combine for an enjoyable, informative podcast.

Michael Hunstad presents his group’s seminal work that turns the age-old paradigm for risk measurement on its head.

Cindy Beaulieu, a Managing Director and Portfolio Manager at Conning where she is responsible for managing large life insurance general account portfolios as well as pension assets for institutional clients.  She shares her experience in managing insurance assets from the smooth waters of Q4 into the pandemic outbreak and market disruptions that followed.  She is both knowledgeable and straightforward in her approach which makes this interview one you won't want to miss!

Nico Santini has managed insurance assets at NEAM Group (GR-NEAM) a leading third-party, insurance-centric specialty manager.  He has recently moved into the CIO spot at ProSight Specialty Insurance.  Nico shares his views of markets and the challenges of investing insurance assets in this difficult environment.