Dominant reserve currencies—those currencies that banks hold as reserves for use in international trade and finance—come and go These currencies rise into prominence spend about 90 to 100 years in the spotlight and decline into obscurity 1 The US dollar is the current dominant reserve currency It rose in the first half of the 1900s and has maintained its position as the world’s most important…, WORLD RESERVE CURRENCIES SINCE 1450* timeline graphic from 1450 to present *modern day flag of country shown The history of the dollar from World War I onwards is a story of a dynasty power benefits and political and economic turmoil  US dollar ascent  The US dollar’s ascent began during World War I when the United States became a crucial exporter for war materials and food trade that was settled…, Explore, Nothing lasts forever Is the US dollar an exception, Crises and competition challenges USD hegemony as the dominant foreign exchange reserve Read article, The central bank digital currency threat, Nations are rushing to launch CBDCs Will the US be a leader or a laggard in the digital currency race Read article   1 https//wwwmidasgoldgroupcom/news/world-reserve-currencies-since-1450  | 2 Eichengreen Barry Exorbitant Privilege The Rise and Fall of the Dollar and the Future of the International Monetary System Oxford University Press 2011 page 60 | 3 Eichengreen page 61 | 4  https//…

The currency market is the largest and most liquid in the world with approximately $66 trillion traded a day up from $51 trillion in 2016* In a market that large and fast moving inefficiencies inevitably arise that astute investors can use to help manage risk pursue more predictable returns or both Learn more in our new report “ Currency for Institutional Investors ” For more information on how…, Mesirow named Currency Manager of the Year for the third consecutive year by MoneyAge, *“Bank of International Settlements Triennial Report 2019” https//wwwbisorg/statistics/rpfx19_fxhtm The information contained herein is intended for institutional clients Qualified Eligible Persons Eligible Contract Participants or the equivalent classification in the recipient’s jurisdiction and is for informational purposes only Nothing contained herein constitutes an offer to sell an interest…

Uto Shinohara is a Managing Director and senior investment strategist in Mesirow’s Currency Management group His responsibilities include leveraging in-depth research to drive strategic decisions across the product suite as well as interaction with the group’s global and diverse client base  Uto has more than 25 years of investment management expertise with significant experience in quantitative…

Vincent Vicidomini is a Managing Director in Mesirow Fiduciary Solutions In his role he is responsible for developing new relationships with recordkeepers third-party administrators broker-dealers advisors and defined contribution investment only firms He regularly consults with leadership teams regarding fiduciary program development ways to mitigate risk through outsourcing and establishing…

As stocks dip this year some investors are taking advantage of the market volatility by converting their traditional pre-tax IRAs to a Roth IRA Why Because the decline in the current market value of the Traditional IRA means a reduced tax liability upon conversion, How a Roth IRA works, Roth IRAs are similar to traditional IRAs except that Roth contributions are “after-tax” which means you pay taxes on your contribution upfront Consequently withdrawals from Roth IRAs are tax-free meaning that your investment earnings and growth are never taxed Traditional pre-tax IRA contributions are not taxed upfront so they can help you reduce your current taxable income and are taxed when…, Key advantages of a Roth IRA, The ability to withdraw money tax-free including the earnings This appeals to anyone who wants to minimize their tax bite in retirement or believes that taxes will be higher later than they are now There are no annual required distributions from a Roth IRA (as there are for a traditional IRA The ability for wealthier taxpayers to maximize assets and minimize taxes for their heirs A spouse…, How to convert to a Roth IRA, All taxpayers regardless of income can convert some or all of their traditional pre-tax IRAs to a Roth IRA During a “Roth conversion” you elect to pay income taxes now on a portion of your pre-tax accounts These amounts are then transferred into a Roth IRA account where they are treated as a regular after-tax Roth IRA Additionally during a Roth conversion income taxes are only calculated on the…, Why now might be a good time for a Roth, This strategy may be particularly valuable in today’s market conditions In difficult economic periods such as the current volatile market the value of your pre-tax traditional IRA may have declined By converting a portion of this account to a Roth you may pay taxes on a smaller market value As your portfolio recovers the Roth IRA and all future growth will be forever tax-free Today’s market…