Investor preferences in asset management are evolving rapidly, with a notable shift toward structures that emphasize direct ownership, customization and transparency. The use of separately managed accounts (SMAs), for example, has steadily increased alongside rising interest in investment vehicles like funds-of-one, special purpose vehicles and tokenized assets. Each of these structures provides an added level of control and visibility that investors increasingly demand. In a market landscape marked by uncertainty, we see a heightened desire for tailored solutions.

When the waste we create leaves our homes, where does it go? In the European Union, 4.8 metric tons of waste were generated by each resident in 2020, according to the European Environment Agency — 39.2 percent of which was processed and recycled — notes the European Commission’s recent Eurostat waste statistics report.

As an adviser to high-net-worth investors and members of the mass affluent investor community, it’s sometimes wise to take a look at some of the challenges facing investors on the institutional side of the investment community. For these investors — most of whom benchmark to the NCREIF Fund Index – Open-end Diversified Core Equity (NFI-ODCE) — exit queues for funds in the NFI-ODCE have been at all-time highs for several quarters now, higher even than during the global financial crisis, by a substantial margin.

A few short years ago, few would have believed it possible, but it happened: bitcoin has traded above $100,000 for the first time. Global adoption of the world’s largest digital asset by market cap is getting harder to ignore. We’re no longer talking about magic internet money favored by tech enthusiasts. We’re talking about a serious financial asset that central banks, corporations and even national governments are now paying close attention to.

The world is changing — and changing fast. With this rapid pace of change comes increased complexity for investors. Gone are the days of a rising tide lifting all boats, and of relying on passive index allocations to provide positive returns. We recognize it, and our clients recognize it.

Arguably, no set of long-term drivers affects real estate demand like demographics. Amidst the recent financial market volatility from the pandemic, inflation and the conflicts in Ukraine and the Middle East, it is easy for investors to take an eye off longer-term secular trends that shape the futures of their markets. This article highlights how demographic trends are expected to affect real estate demand and influence asset prices and investment strategy.

Using technology not unlike the regenerative braking found in hybrids and electric vehicles, trains in Barcelona are generating some of the power required to supply their trains, the EV chargers in the station’s nearby parking lot, the lights illuminating the station, and the escalators taking passengers to the platforms.

Across the United States and worldwide, energy demand is soaring as data centers work to support the wide and growing use of artificial intelligence. These large facilities are filled with powerful computers, called servers, that run complex algorithms to help AI systems learn from vast amounts of data.

The late Omni magazine forecasted that a revolutionary new energy technology called nuclear fusion — an innovation that would address a multitude of issues — was a mere 10 years away. That was in the early 1980s. “What happened?” a scientist at Lawrence Livermore National Laboratory was asked 30 years later about the unfulfilled prophecy. He replied without hesitation: “We sobered up.”

The myriad rules taxpayers must follow when completing 1031 exchanges can be overwhelming. Real estate developers often prefer to avoid this complex analysis, thinking most of their work involves nonqualified inventory. However, this common misconception has caused many developers to miss out on the sophisticated exchange techniques that could help them convert nonqualified inventory into qualified property — and significantly minimize their tax liability.

Sam Altman, CEO of OpenAI, on Elon Musk: “I grew up with Elon as a mega-hero. I thought what Elon was doing was absolutely incredible for the world. I have different feelings about him now, but I’m still glad he exists, not just because I think his companies are awesome but because at a time when most of the world was not thinking very ambitiously, he pushed a lot of people, me included, to think much more ambitiously. “

Like so many trades and business lines through history before it, the registered investment adviser (RIA) space is going through industry consolidation and frequent roll-ups. Some reasons for industry consolidations are idiosyncratic from one segment of the economy to the next, but inevitably economies of scale and competitiveness are the driving forces.

2024 has been another challenging year for retailers. Still-high prices and an uncertain economic climate led many shoppers to trade down and cut back on unnecessary indulgences. Value took center stage, as cautious consumers sought to stretch their dollars as far as possible.

Invesco is out with its 2025 investment outlook, which it calls “the product of much thought and analysis by some of the key investment professionals and thought leaders” at the firm.

Although coverage of the 2024 election was dominated by the economy, taxes didn’t get much attention in the run-up to the vote. That’s a bit of a surprise, because 2025 will be a major year for America’s tax system — in fact, the fate of the most significant tax reform in three decades hangs in the balance. That would be the Tax Cuts and Jobs Act, which Congress passed during President-elect Donald Trump’s first term in office in 2017. If lawmakers don’t take action, the whole package is set to expire at the end of next year. Western Governors University School of Business tax expert Jim Franklin explains what might be in store for the act, and for taxpayers.

Jeremy Fox, co-president of the asset manager Fifth Wall, discusses the opportunities and challenges around property technology investing with Real Assets Adviser editor Mike Consol.