Please see page 19 for Sonya’s profile by the Family Wealth Report. The awards program is designed to showcase excellence in the North American wealth sector, and how entrants put their case forward can often be very revealing about the qualities on display. The Family Wealth Report Awards 2023 and 2022 judging process was conducted by expert panels and consist of judges from family offices, private banks, trusted advisers, consultants and other service providers each of whom has in-depth knowledge and a broad experience. The judging process is organized in a way so as to avoid conflicts of interest, and no judge will be asked to review a submission from an organization competitive to their own. Every submission is carefully reviewed to ensure the best companies and individuals are selected as winners in each category, whilst commercially sensitive information is kept confidential. This recognition does not evaluate the quality of services provided to clients and is not indicative of Bailard’s future performance; there was no fee to enter.
Recent Insights
Quarterly Technology Equity Strategy Q1 2025
The Bailard Technology Strategy posted a 1Q25 total return of -9.35% net of fees—ahead of both the benchmark index (S&P North American Technology Index) and the competitor-comprised benchmarks. The Morningstar U.S. Open End Technology Category returned -9.98% and the Lipper Science and Technology Fund Index returned -10.88%, while the S&P North American Technology Index returned -11.43%. Over longer time periods of 3, 5, and 10 years, the Strategy’s net returns continued to lead the competitor’s peer benchmarks—quite substantially, as seen in the table to the right.
Despite market volatility in Q1, we have not significantly altered our positioning. Our view is that nothing is broken in tech, and we remain convicted in our investment process. With prices and valuation changing dramatically, we expect to optimize our positioning by bolstering or adding high-quality companies trading at attractive discounts to long-term value. We anticipate stabilization in industry fundamentals and fiscal policy in the latter part of this year.
April 16, 2025
Quarterly Small Value Strategy Q1 2025
Policy uncertainty, mixed economic and inflation numbers, and a declining stock market prompted investors to opt for the perceived safety of large cap stocks in the first quarter. Though trade wars disproportionally hurt larger cap stocks due to their much greater international exposure, and the new administration’s proposed deregulatory initiatives relatively help smaller companies, fear of recession eclipsed any other rational analysis during the period. As a result, small cap stocks now appear to be discounting a severe recession based upon price declines, while large cap stocks are barely discounting a mild one.
April 15, 2025
Keep Informed
Get the latest News & Insights from the Bailard team delivered to your inbox.