After a long career in finance, former Blackstone executive Steven Saslow maintains ties with the company as a consultant to BAAM, Blackstone’s hedge fund solutions group. Managing over $60 billion in fund assets, Steven Saslow and BAAM have withstood a volatile financial market over the course of 2015.
For many fund managers, 2015 was a rollercoaster year. Ultimately, most ended up in the same position as they began the year. For example, the largest stock funds saw just a 1.2 percent increase as of December 30, 2015. Strong-growth stocks were rare commodities. Having climbed out of the recession, many companies are predicting flat-results forecasts.
Emerging-market stocks were some of the worst performers last year, losing almost 14 percent on average. Compounding the issue, the Federal Reserve announced its first short-term rate increase in almost 10 years last December. New banking regulations appear to be propelling the volatility, as withdrawals from market-making capital in investment banking seem to be on the rise.
The outlook for 2016 forebodes much of the same as from the year before. Investors should be ready for continued volatility and slow growth, analysts say.