Posted by Andreas Runggatscher
“Investing In The New Normal”
The second meeting of the 2020-21 year of RCNY took place on Zoom on July 23. The speakers were Matt Forester, Chief Investment Officer for Lockwood at BNY Mellon | Pershing with expertise in proprietary investment models, and Brendan Ahern, Chief Investment Officer at Krane Funds Advisors. These speakers were graciously arranged by our member James Keenan.
        report inside.

“Investing In The New Normal”
 
Report of the Week – Meeting of August 6th by Andreas Runggatscher The second meeting of 2020-2021 year of the Rotary Club of New York took place on Zoom on July 23, 2020. The speakers were Matt Forester, Chief Investment Officer for Lockwood at BNY Mellon | Pershing with expertise in proprietary investment models, and Brendan Ahern, Chief Investment Officer at Krane Funds Advisors (KFA) with a focus on global financial markets including China. While Matt emphasized that economic growth in the United States has been largely buoyed by economic stimulus policies, Brendan reinforced that globally retail has accelerated towards a digital model of commerce even in countries such as China that have largely exited the pandemic.

Matt emphasized that the rebound in the United States’ stock markets has been in part due to unprecedented economic stimulus policies, which have made up for structural issues in the recovery. While stock markets recovered strongly, quarterly earnings reports have been slow to catch up. Technology companies, especially those that enable remote working arrangements, are receiving attention from the market. As investment has moved to digital-first companies, employment in brick-and-mortar industries has been slower to rebound.

Brendan emphasized that e-commerce in China has outpaced gains made by traditional retailers, indicating potential changes in consumer behavior going forward. While China’s economy has been recovering with an effective control of the pandemic, export challenges continue amid the developing global pandemic situation. Investment focus is geared around Consumer Technology in China who are providing digital-first challenges in a post COVID world.

Amid additional focus on US-China relations, Brendan concluded his presentation by emphasizing the need to recognize the consumer market that US multinationals benefit from abroad. With accelerated digitization and increased import-export challenges, there are challenges to be overcome in ensuring employment is a major factor in the economic recovery from COVID-19.
 
Additional note of disclosure from Jim Keenan:

 

"I also stated that any investment should be first evaluated with your investment advisor. The advisor should look at income, expenses , when you want to retire, age and health, RISK TOLERANCE,  etc. After that evaluation you can then chose or not chose investments from firms such as Lockwood or Krane Funds. 
 
BTW any investment directly invested in China is inherently high risk and must be evaluated by an expert in this field like my self.
 
This is not only important it is a fiduciary responsibility I have and is right and fair in this case for the Rotary audience.
I am not trying to enrich my self. These are just two out of a multitude of managers an investor should consider., Lockwood and Krane Shares are only an example of what might fit in your portfolio based upon some of the above stated parameters and approved with the investor through an Investment Advisor ,(like myself) or your own.
I organized these speakers and said all these things. I am legally obligated to protect and lead the audience in the right direction."

 
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