Municipal Issues in the secondary trading market attract fewer potential buyers and are not as heavily researched as primary offerings. The reduced buyer interest often creates an opportunity for well-researched and prepared investors.
Los Angeles, CA (PRWEB) November 26, 2013
The Ivy Family Office Network hosted its 2014 Family Office Outlook Forum in Los Angeles, CA on November 12th with a discussion on “Portfolio Allocations” led by David Murdock, Managing Director of Silvercrest Asset Management Group, LLC.
According to Mr. Murdock, “There is much on which to pin a hopeful outlook for 2014. (1) The U.S. economy should continue to expand at a moderate pace; (2) interest rates will creep up erratically; (3) inflation will remain subdued; (4) the U.S. dollar will gain ground in the short-term on a trade-weighted basis; (5) corporate profits should continue to grow, but will trail current consensus forecasts; and (6) the U.S. market remains attractively valued, with the potential for double-digit returns within the next 12-15 months. “
Moreover, "Headlines concerning the City of Detroit filing Chapter 9 bankruptcy, Puerto Rico, and mutual fund municipal fixed income outflows have given rise to increased volatility in this typically secure asset class. Here Silvercrest researches municipal bonds in the secondary municipal bond market which are deemed to be trading at substantial discounts to intrinsic value. In particular, we focus on credits from issuers whose services are essential to the fabric of the communities they serve and which are often more credit-worthy than the ratings suggest. Issues in the secondary trading market attract fewer potential buyers than the new issue market and are not as heavily researched as primary offerings. The reduced buyer interest often creates an opportunity for well-researched and prepared investors. ”
Other speakers on the panel included Roger Davis of Woodridge Capital and Jack Isaacs of RLJ Equity Partners
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David K. Murdock, Jr., CFP®, CIMA, CLU, is a Managing Director and Portfolio Manager working with private clients in overseeing their investment and asset allocation programs along with providing holistic wealth management solutions. Prior to joining Silvercrest, David was a Managing Director for Northern Trust leading a multi-disciplinary team of professionals in their ultra-high-net worth group. David has held successful positions with Ernst & Young, LLP as a Senior Manager in the private client tax practice as well as with AXA Advisors, LLC as a Vice President in charge of Financial and Investment Planning.
David graduated with a B.S. in Finance from the University of Kansas and an MBA from the University Of Chicago. Worth magazine named David one of the top 100 Global Wealth Advisors in 2007 and 2008.
Silvercrest Asset Management Group is an independent, employee-owned, registered investment advisor which provides asset management and family office services to families and select institutional investors. Silvercrest combines the client-focused service which was the hallmark of private banks and investment counsel firms in an earlier age with state of the art theories of portfolio construction, risk management and diversification.
Silvercrest currently advises on $13.9 billion (as if September 30, 2013) for a clientele comprised primarily of families, as well as endowments, foundations and other institutional investors.
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The Ivy Family Office Network Forum provides an ongoing dialogue for family offices to support high-value education and information on trends for family office investing, structure and operational excellence. Attendees gain practical strategies and solutions to achieve both short and long-term objectives. The program features off-the-record, peer-to-peer discussions in a non-commercial setting, in-depth and highly interactive sessions.
The Ivy Family Office Network, IvyFON, is a leading peer to peer global family office network with several hundred family offices attending events around The Americas every year. Some of the more than 1,500 past speakers include more than half of the top 10 largest asset allocating consultancies, pre-eminent alternative investment funds, leading institutional investors, best-in-class asset management professionals, family office subject matter experts and world-class family offices.
Forum sessions are multi-format and cross-disciplinary covering a range of family office centric topics
IvyFON originates from one of the United States’ oldest and largest alternative investment networks, the IvyPlus network. IvyPlus originated as a peer to peer private equity, real estate and hedge fund network consisting of Ivy League and comparable school alumni as well as meritorious participants in the program. The group includes New York City and Los Angeles deal networks across multiple disciplines including private equity, health care and real estate.
For more information on Silvercrest Asset Management contact David Murdock at dmurdock(at)silvercrestgroup(dot)com or at (310) 772-2238. For more information on the Ivy Family Office Network, contact us at 646-290-8114 or at ivyfon.com/contact.html.