Podcast Series

In this podcast series, our portfolio managers at BNY Mellon Investment Management discuss strategies for the current market environment and beyond. 

March 31, 2020

Update: BNY Mellon
DeRisking and Diversification

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Eric Hundahl, CFA

Head of Portfolio Strategy
BNY Mellon Investment Strategy

This podcast will be available for one week from the date shown above.

Featured Video

Is Derisking Risky Business?

Since 2017, in our view, many investors have been derisking, moving away from intermediate duration bonds to ultrashort duration bonds and cash-like securities. We think this deserves a deeper look.

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Risk
All investments involve risk, including the possible loss of principal. Certain investments involve greater or unique risks that should be considered along with the objectives, fees, and expenses before investing. Equities are subject to market, market sector, market liquidity, issuer, and investment style risks, to varying degrees. Small and midsized company stocks tend to be more volatile and less liquid than larger company stocks as these companies are less established and have more volatile earnings histories. Bonds are subject to interest-rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines. High yield bonds involve increased credit and liquidity risk than higher-rated bonds and are considered speculative in terms of the issuer’s ability to pay interest and repay principal on a timely basis. Socially responsible portfolios may forgo opportunities to invest in other securities when advantageous, or may sell securities when disadvantageous for them to do so while pursuing their socially responsible criteria. Commodities contain heightened risk including market, political, regulatory, and natural conditions, and may not be suitable for all investors. Derivatives and commodity-linked derivatives involve risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid, and difficult to value and there is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or the portfolio’s other investments. Commodity-linked derivative instruments may involve additional costs and risks, such as commodity index volatility or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Alternative strategies (including hedge funds and private equity) may involve a high degree of risk and prospective investors are advised that these strategies are suitable only for persons of adequate financial means who have no need for liquidity with respect to their investment and who can bear the economic risk, including the possible complete loss, of their investment. The strategies will not be subject to the same regulatory requirements as registered investment vehicles. The strategies may be leveraged and may engage in speculative investment practices that may increase the risk of investment loss. Investors should consult their investment professional prior to making an investment decision.

BNY Mellon Investment Management Portfolio Strategy Group is part of The Bank of New York Mellon (the “Bank”). In the US, the BNY Mellon Portfolio Strategy Group offers products and services through the Bank, including investment strategies that are developed by affiliated BNY Mellon Investment Management advisory firms and managed by officers of such affiliated firms acting in their capacities as dual officers of the Bank.

This material has been distributed for informational purposes only, in connection with exploratory conversations; it does not contain sufficient information to support an investment decision and it should not be relied upon by you in evaluating the merits of investing in any securities or product. This information does not take into account any client’s particular investment or other financial objectives, nor any client’s legal, regulatory, tax or accounting status, nor does it purport to be comprehensive or intended to replace the exercise of a client’s own careful independent review regarding any investment or other financial decision. This information should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement. Information provided may contain certain statements that could be deemed forward-looking statements; any such statements, forecasts, opinions or investment techniques are not guarantees, are subject to change, and are not reliable indicators for future performance. Past performance is no guarantee of future results. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Please consult a legal, tax or investment advisor in order to determine whether an investment product or service is appropriate for a particular situation. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top US wealth managers, encompassing BNY Mellon’s affiliated investment management firms, wealth management organization and global distribution companies. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the corporation as a whole or its various subsidiaries generally. BNY Mellon Investment Adviser, Inc. and BNY Mellon Securities Corporation are companies of BNY Mellon. © 2020 BNY Mellon Securities Corporation, 240 Greenwich Street, 9th Floor, New York, NY 10286.

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