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APRIL 2020

CARES Act: Congress Approves Economic Relief Program for Individuals and Families

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law. In the wake of the coronavirus public health crisis and associated economic fallout, this federal government support is designed to provide support to both individuals and businesses, including changes to tax and retirement account policies.

APRIL 2020

The Road to Recovery From Alphabet City

With so much being written and said about the rapidly changing market environment, we will not attempt to break any new ground on the key issue—the magnitude and duration of the COVID-19 outbreak. We’ll leave that to the infectious disease experts who, not surprisingly, remain sharply divided on the likely trajectory. While we are surely still in the early stages of a recession, there will just as surely be a recovery.

MARCH 2020

Just Rebalance: Simple Approaches that Build Long Term Value

With markets currently under pressure from shocks in the energy sector and the COVID-19 outbreak, the Investment Research team reviewed what actions an investor might take to help ensure the short-term market gyrations don’t derail investors’ long term objectives. The team reviews rebalancing scenarios and their implications in times of uncertainty.
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WHITE PAPERS


JANUARY 2020

Choosing the Right Asset Mix: Guidance for Individuals with New Wealth Who Have Access to Private Illiquid Investments

Using an Athena-constructed Monte Carlo simulation model, the paper reviews financial outcomes for different asset mixes over a 40-year investment period. While a strategy with some allocation to private investments can produce more favorable results, the allocation should be balanced with a complementary portfolio of liquid investments, as well as life insurance, in order to ensure sufficient liquidity both during lifetime and at death.

JANUARY 2018

Investing in Gender Equality

A practitioner’s perspective on gender lens investing and the construction of gender inclusive investment portfolios

JUNE 2017

Alice's Adventures in Volatility-land

Managing portfolios according to Modern Portfolio Theory directs us to find investment portfolios with the highest level of return for a given level of risk. In this paper we examine the nuances of volatility and risk measurement to better inform decision-making in investment portfolios.
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MARKET INSIGHTS & ANALYSIS


MARCH 2020

Interim Market Update - 1Q20

The spread of the novel coronavirus beyond China has driven a wide-ranging reassessment of the global economic outlook based on the trajectory of COVID-19. We recognize the uncertainty of COVID-19 and share our analysis from a place of humility given the complexity and fluidity of the situation. We are not public health experts and are not looking to opine on the health outlook beyond our heartfelt concern for people’s well-being. As it pertains to client portfolios, we believe it is important to provide perspective and to remember that Athena constructs diversified client portfolios that are intended to preserve and grow wealth under various scenarios and over a long-term horizon.

JANUARY 2020

Market Update - 4Q19

This quarter evaluated 2019 as a tremendous year for investors. This creates a tepid outlook for 2020. With elevated valuations, our approach is to stay the course and allow diversification to work while picking our spots on how we express exposures. We also anticipate, given heightened political uncertainty, that there will be dislocations throughout 2020 for us to selectively take advantage of.

NOVEMBER 2019

Interim Market Update - 4Q19

This quarter's Interim Market Update reflects a more positive sentiment. Domestic equities have reached new all-time highs as headlines indicate a more upbeat tone in US-China trade rhetoric. The past few weeks also marked a "better than expected" earnings season, and the continuation of low interest rates across the globe.
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LANDSCAPE REVIEWS


FEBRUARY 2020

Coronavirus Update

As the coronavirus situation evolves rapidly, it is important to be vigilant. In the last few days there has been a profound shift in the development of COVID-19. We are entering a new phase in which the window of opportunity to contain the virus globally is narrowing. As a result, we now believe that a V-shaped recovery is an upside case and our base case is more of a U-shaped scenario. This base case factors in a potentially longer market impact from containment efforts known as social distancing, which includes business and factory closures and travel restrictions that would result in supply chain disruptions.

DECEMBER 2019

Diversity and Inclusion Framework

Over the past several years, Athena Capital has dug deep into the research focused on gender lens investing. As a woman-led firm inspired by our clients’ integration of social values into their investment portfolios, our firm has developed policy statements, model portfolios, and published thought pieces dedicated to this topic. As our research unfolds, it has led us to focus on the broader subject and intersectionality of diversity, equity, and inclusion. In this report, we explore correlations between diverse workforces and financial performance, and also share best practices and applications within our own firm.

NOVEMBER 2019

Investing in Climate Change Mitigation

This landscape review by Athena’s impact investing team presents the opportunity to examine the effects of climate change and considers options for investing in ways that may effect positive change. It focuses on opportunities to reduce greenhouse gas emissions from sources in the United States, one of the leading contributors to rising concentrations of such gases in the atmosphere. It is also largely about carbon dioxide since that gas accounts for the greatest share of the country’s total emissions.
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