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DC retirement plans are not venturing into private markets

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DC retirement plans are not venturing into private markets

Challenges Remain for Private Market Investments in DC Retirement Plans: Cerulli Research

Private market investments may be popular in the institutional space, but a new report from Cerulli suggests that they may not become a common feature in people’s retirement plans anytime soon. The report highlights the limited investment options typically offered in 401(k) plans, with target-date funds being the most prevalent choice. This narrow selection can leave participants feeling restricted and unable to fully align their investments with their preferences or knowledge.

One of the main concerns for plan sponsors is the fear of including funds that may be seen as overpriced or underperforming, potentially leading to litigation. Legal challenges related to excessive fees and fiduciary duty breaches are significant worries, making the inclusion of alternative investments like private equity a complex decision.

The inherent characteristics of private market assets, such as illiquidity and lack of transparency, also make them less suitable for DC plans governed by strict regulatory standards. Despite their popularity, Cerulli believes it is challenging to see a clear path forward for alternative investments in DC plans, although a solution may emerge in the next decade.

A survey accompanying the report indicates a tepid outlook on the integration of private market funds into DC plans, with many asset managers showing little interest in adding major private market fund types to their offerings. However, Cerulli remains optimistic about the potential for private market investments in DC plans, noting that some custom target-date funds have started incorporating elements of private real estate and private equity to a limited extent.

While the future of private market investments in DC plans remains uncertain, Cerulli believes that further work on unique structures and liquidity offerings is needed to pave the way for their potential inclusion. Despite the challenges, the door may still be open for private market investments to play a role in retirement planning in the future.

The United States Senate Committee on Finance Holds Hearings on Hearing Issues

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The United States Senate Committee on Finance Holds Hearings on Hearing Issues

Full Committee Hearing on Healthcare with UnitedHealth Group CEO Andrew Witty – May 1, 2024

The Senate Committee on Finance will be holding a Full Committee Hearing on Wednesday, May 1, 2024, at 9:00 AM in the 215 Dirksen Senate Office Building. The hearing will feature prominent figures such as Ron Wyden (D-OR) and Mike Crapo (R-ID) discussing important issues related to healthcare.

One of the key speakers at the hearing will be Andrew Witty, the Chief Executive Officer of UnitedHealth Group, based in Minnetonka, MN. Witty will provide insights and perspectives on the current state of healthcare and the challenges facing the industry.

Individuals or organizations interested in presenting their views for inclusion in the hearing record can submit a statement in a Word document, not exceeding 10 pages in length. The statement should include the title and date of the hearing, as well as the full name and address of the individual or organization. Statements must be received no later than two weeks following the conclusion of the hearing.

Statements can be emailed to Statementsfortherecord@finance.senate.gov or mailed to the Senate Committee on Finance at the address provided.

This Full Committee Hearing promises to be an informative and engaging event, shedding light on important healthcare issues and potential solutions. Stay tuned for updates and insights from the hearing.

Private Equity and Venture Capital: Building European Resilience through Investment in the Future – Euractiv

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Private Equity and Venture Capital: Building European Resilience through Investment in the Future – Euractiv

Private Equity and Venture Capital Investment in Europe Reaches €130bn in 2022: A Report by Invest Europe

Invest Europe’s latest report has revealed that the private equity and venture capital industry in Europe saw a significant boost in 2022, with €130bn invested in more than 9000 companies. This marks the second-highest year for investment, showcasing the industry’s resilience and ability to drive innovation, job creation, and growth.

Despite facing challenges such as the lingering effects of the COVID-19 pandemic and geopolitical upheavals like Russia’s invasion of Ukraine, the private equity and venture capital sector in Europe has shown remarkable strength. The industry has adapted by setting up ‘War Rooms’ to navigate disruptions and make informed decisions, leading to successful outcomes.

Looking towards the future, critical sectors like defence, infrastructure, energy, healthcare, and digital will rely on resilient private equity and venture capital investments. These investments are crucial for building better businesses that create jobs, sustain communities, drive economic growth, and address climate change and sustainability issues.

The industry’s continued innovation and performance have transformed it from a cottage industry to one of the cornerstones of Europe’s economy and societies. Despite global stagnation in other regions, Europe’s venture capital sector remains strong, offering exciting investment opportunities for retail investors.

In 2023, the private equity sector faced challenges such as rising rates and inflation, but fundraising showed remarkable resilience. The industry’s ability to adapt and grow year-on-year will be essential for delivering the future Europe needs.

Overall, the European private equity and venture capital industry continues to scale new heights, attracting investors and generating value and superior returns. This steady creation of capital and wealth benefits Europe’s economy and society, showcasing the industry’s growth potential and appeal to investors.

The impact of the millionaires’ tax is already evident – this will only add to our downfall.

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The impact of the millionaires’ tax is already evident – this will only add to our downfall.

Real Estate News: Greater Boston Real Estate Board Launches Campaign Against Transfer Fees

The Greater Boston Real Estate Board has launched a campaign to oppose a proposal that would allow cities and towns to levy a fee on some home and commercial property sales. The proposal, part of Governor Maura Healey’s $4 billion bond bill, would impose a fee on properties over $1 million in certain areas.

The real estate board is actively reaching out to voters to rally against the transfer fee, citing concerns about raising transaction costs at a time when they are already high. However, advocates for the proposal argue that it could be a solution to the housing crisis in Massachusetts, providing cities and towns with additional tools to address affordable housing shortages.

The Metropolitan Area Planning Council supports the proposal, stating that it would help increase the housing supply and provide housing for low- to moderate-income renters and buyers. Despite opposition from the real estate board, supporters believe that the transfer fee could generate much-needed revenue for housing projects that the state cannot fully cover.

While there are concerns about the impact of the transfer fee on commercial real estate, supporters believe that the long-term benefits outweigh any short-term challenges. The proposal is currently under review by the House Committee on Ways and Means, with advocates hoping for its passage to address the ongoing housing crisis in Massachusetts.

Small Business Industry Day held in Laughlin for the first time

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Small Business Industry Day held in Laughlin for the first time

Laughlin AFB Hosts First Small Business Industry Day

Laughlin Air Force Base in Texas hosted its first ever Small Business Industry Day, bringing together over 25 local and small businesses to explore partnership opportunities for upcoming construction projects and services needed on base. The event, held on April 26, 2024, aimed to connect with contractors invested in the Del Rio community to streamline the procurement process.

Colonel Kevin A. Davidson, commander of the 47th Flying Training Wing, highlighted the need for new infrastructure to support upcoming training aircraft. He emphasized the potential for local businesses to play a key role in these projects, stating, “From maintenance, operations, to support, everything is going to have opportunity to change and that starts within a couple years.”

The Small Business Industry Day provided valuable information on how companies can do business with the government, including insights on Government Purchase Cards and an overview of construction and service projects for Fiscal Year 2024 and beyond. Major Matthew Thorne, commander of the 47th Contracting Squadron, emphasized the impact local businesses could have on the base’s mission.

Following lunch, contractor capability briefings and one-on-one sessions with the 47th Contracting Squadron Personnel took place, allowing businesses to explore potential partnerships. Jesus Perez, Director of Business Operations for Laughlin AFB and Del Rio native, stressed the importance of educating local businesses to increase competition and provide opportunities for them to work with the base.

The 47th Contracting Squadron plays a crucial role in overseeing all contracts and agreements that obligate the base’s funds. Perez expressed excitement about the new partnerships formed during the event and looks forward to future Industry Days at Laughlin AFB.

Local businesses interested in participating in future Industry Days at Laughlin AFB are encouraged to contact Mr. Jesus Perez at (830) 298-5641. The event showcased the potential for collaboration between the base and local businesses, paving the way for future projects and partnerships.

Strategic Planning for the Future Challenges in Banking

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Strategic Planning for the Future Challenges in Banking

Navigating the Future of Financial Services: Strategies for Success in a Changing Landscape

Financial services organizations are facing a multitude of decisions in the rapidly evolving landscape of banking. From mobile banking to artificial intelligence, cloud migration to real-time payments, and open banking to digital wallets, the industry is at a crossroads. With a massive generational transfer of wealth underway, totaling in the tens of trillions, banks must act swiftly to capitalize on these opportunities.

Carlos Lopez, a digital and core banking expert at Jack Henry, emphasizes the importance of framing a vision and defining a strategy tailored to the unique needs of each institution. As Baby Boomers transfer an estimated $30 trillion to $70 trillion in assets to their heirs, banks must position themselves to attract and retain this wealth. Younger consumers, particularly Gen Z and Millennials, prioritize mobile banking and hyper-personalization when choosing a financial institution.

To stay competitive, banks must prioritize modernizing their infrastructure and developing expertise in handling various types of assets. Open banking, which is gaining traction in Europe and the U.S., offers advantages such as API-based data transfer and increased consumer control over data. Small and medium-sized businesses, on the other hand, are looking for payment solutions and cash-flow visualization tools to manage their finances effectively.

In this rapidly changing landscape, banks must adapt their strategies to meet the evolving needs of consumers and businesses. With the guidance of experts like Carlos Lopez, financial institutions can navigate the complexities of the digital transformation and seize the opportunities presented by the generational transfer of wealth.

Seattle’s newest startup collective focuses on empowering Black entrepreneurs and investors – GeekWire

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Seattle’s newest startup collective focuses on empowering Black entrepreneurs and investors – GeekWire

Dreamward Ventures Co-Founders Working to Boost Black Founders and Investors in Tech Startups

Dreamward Ventures, a new Seattle-based emerging fund, is on a mission to boost the number of Black founders and investors in tech startups. Co-founders Evan Poncelet and Jesse Posey are leveraging their expertise in computer programming and laboratory science to address the significant gaps that exist in venture capital for Black entrepreneurs.

According to Crunchbase, Black-founded startups received less than 0.5% of venture funding in the U.S. last year, highlighting the need for initiatives like Dreamward. Poncelet and Posey, who met at a Seattle Angel Conference event, are using their connections within the tech industry to help match Black founders with potential funding opportunities.

Dreamward Ventures is not only investing in diverse founders but also supporting the growth of Black angel investors through the Washington State Black Angel Network (WBAN). Additionally, they are involved in initiatives like the Black Founders and Funders group and are working to establish a Seattle chapter of BLCK VC, a national nonprofit advancing Black venture investors.

The fund is geography and sector agnostic, with a focus on startups coming out of the Pacific Northwest. Poncelet and Posey are dedicated to building a more inclusive ecosystem for startups and venture capital, ensuring that the industry doesn’t remain homogenous in the future.

To showcase their commitment to supporting Black founders, Dreamward Ventures is hosting a pitch event on June 8 in Bellevue, Wash., featuring startups led by Black entrepreneurs. This event is an opportunity for these founders to connect with potential investors and gain the support they need to succeed in the tech industry.

Today’s Stock Market: Wall Street Reacts to Fed’s Decision to Maintain High Interest Rates and Downplay Likelihood of Hike

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Today’s Stock Market: Wall Street Reacts to Fed’s Decision to Maintain High Interest Rates and Downplay Likelihood of Hike

Stock Market Mixed as Fed Signals Delay in Interest Rate Cuts

The U.S. stock market experienced a mixed finish on Wednesday as investors awaited news on interest rates from the Federal Reserve. The S&P 500 fell after the Fed kept interest rates steady, disappointing hopes for immediate cuts. The Dow Jones Industrial Average rose slightly, while the Nasdaq composite saw a small decline.

Federal Reserve Chair Jerome Powell’s comments on inflation and interest rates caused fluctuations in the market. Powell acknowledged the high inflation levels but indicated that rate hikes are unlikely in the near future. The Fed also announced a slowdown in reducing its holdings of Treasurys to ease pressure on the financial system.

Traders had already adjusted their expectations for rate cuts this year due to persistent inflation. Companies like CVS Health, Starbucks, and Super Micro Computer reported weaker-than-expected results, leading to significant stock price declines. However, Amazon saw a rise in its stock price after reporting strong profits.

The market reacted to reports of a contracting manufacturing sector and fewer job openings, highlighting concerns about economic growth and inflation. Powell reassured investors that the current economic situation is not comparable to the stagflation of the 1970s and 80s.

Overall, the market remains cautious as it awaits further economic data and Fed decisions. The next few months will be crucial in determining the future path of interest rates and stock prices.

Ian Keefe and George Weavil appointed as co-heads of UK Private Equity Practice

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Goodwin Expands London Private Equity Practice with Ian Keefe and George Weavil as Partners

Goodwin Bolsters London Private Equity Practice with New Partners Ian Keefe and George Weavil

Global law firm Goodwin has announced the addition of Ian Keefe and George Weavil as partners in the firm’s Private Equity practice for the London office. Keefe, known for his expertise in pan-European and international private equity and M&A transactions, brings a wealth of experience working with a diverse range of clients including corporations, institutional investors, alternative asset managers, founders, senior management teams, and portfolio companies.

Keefe’s practice covers a wide range of transactions, including leveraged buyouts, consortium deals, bolt-on acquisitions, carve-outs, co-investments, minority deals, recapitalizations, divestments, distressed M&A, public-to-privates, joint ventures, reorganizations, restructurings, and general corporate matters. Meanwhile, Weavil specializes in advising private equity investors and financial sponsors on buyouts, disposals, bolt-on acquisitions, co-investments, incentivization schemes, reorganizations, restructurings, and general corporate matters, with a focus on ESG-related risks and opportunities.

The addition of Keefe and Weavil further strengthens Goodwin’s 80-lawyer UK private equity practice, which covers M&A, private investment funds, and debt finance. In the past 18 months, the London team has welcomed partners Jacqueline Eaves, Arvin Abraham, and John Anderson.

Richard Lever, a London-based partner in Goodwin’s Private Equity practice, commented on the expansion, stating, “Our private equity practice in London has seen a robust expansion in line with client demand as our full-service, multi-sector platform has become an increasingly dominant force in the market. Attracting talent such as Ian and George, who bring extensive expertise in the types of transactions and industries that our clients frequently engage us for, is yet another indicator of Goodwin’s position as the go-to counsel in the UK for sponsors, portfolio companies, senior management teams, and financial institutions. We are delighted they will be joining the firm.”

The addition of Keefe and Weavil underscores Goodwin’s commitment to providing top-tier legal services to its clients in the private equity sector and solidifies the firm’s position as a leading player in the UK market.

Myomo Announces First Quarter Financial Results Release Date of May 8, 2024

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Myomo Announces First Quarter Financial Results Release Date of May 8, 2024

Myomo, Inc. to Report First Quarter 2024 Financial Results on May 8, 2024

Myomo, Inc. to Report First Quarter 2024 Financial Results on May 8th

BOSTON, May 01, 2024– Myomo, Inc. (NYSE American: MYO), a leading wearable medical robotics company specializing in providing increased functionality for individuals with neurological disorders and upper-limb paralysis, has announced that it will be releasing its financial results for the first quarter ended March 31, 2024, on May 8, 2024.

The company will be hosting a conference call on the same day, Wednesday, May 8, 2024, at 4:30 p.m. ET. The call will feature prepared remarks by Paul R. Gudonis, chairman and chief executive officer, and David Henry, chief financial officer.

Participants are encouraged to pre-register for the conference call using the provided link. Pre-registered callers will receive a conference passcode and unique PIN for immediate access to the call, bypassing the live operator. For those unable to pre-register, dial-in options are available for both U.S. and international participants. Additionally, a webcast of the call can be accessed on Myomo’s Investor Relations page.

A replay of the webcast will be available approximately one hour after the live conference call, with a dial-in replay option available until May 22, 2024.

Myomo, Inc. is a pioneer in wearable medical robotics, offering innovative solutions to improve arm and hand function for individuals with neurological disorders and upper limb paralysis. The company’s MyoPro product line includes a powered upper limb orthosis designed to support and restore function to weakened or paralyzed arms, enabling patients to perform daily activities and tasks.

Headquartered in Boston, Massachusetts, Myomo has a team of sales and clinical professionals across the U.S. and international representatives. For more information, visit www.myomo.com.

Contact information for Myomo:
For Myomo: ir@myomo.com
Investor Relations:
Kim Sutton Golodetz
LHA Investor Relations
212-838-3777
kgolodetz@lhai.com

Source: https://www.businesswire.com/news/home/20240501128303/en/

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