In an uncertain global economy, Rockefeller & Co. sees continued U.S. leadership

NEW YORK, July 3, 2013 /PRNewswire/ -- Rockefeller & Co., Inc. ("Rockefeller") -- a global wealth and asset management firm whose legacy dates back to John D. Rockefeller's family office and who serves high-net-worth individuals, families, trusts, and institutions -- today released an investment outlook examining the role of increased U.S. energy production, the prospects for a stronger U.S. dollar, and recent developments in fixed income and emerging markets. In "Re-born in the USA," the latest issue of its quarterly Global Foresight series, Rockefeller outlines the fundamental shifts in play across the U.S. and global economies that could be "game changers" for the worldwide investment landscape over a long-term horizon.  Rockefeller's team detailed the implications of these trends:

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- Re-born in the USA by David P. Harris, CFA, Chief Investment Officer

The dollar strengthens, U.S. energy production increases, and the U.S. current account deficit declines.  Yet investors should also recognize the challenges a stronger dollar poses for U.S.-based exporters and for holders of non-dollar bonds, among other entities.  Valuations in line with historical norms maintain the attractiveness of equities as an asset class.

- Not All Fireworks for BRICS by Jimmy C. Chang, CFA, Chief Equity Strategist

Just as many emerging markets are dealing with cyclical downturns, the impact of the fear of Federal Reserve tapering has sent emerging market bond yields higher while emerging market currencies have also weakened against the dollar thus far in 2013.  Yet there are some selective opportunities among emerging market equities due to structural positioning.

- Creedence State and Local Revival? by Mark Iannarelli, CFA, Director of Fixed Income

Above the "noise" in specific issues, we are cyclically bullish on state and local government credit.  Yet, varying creditworthiness, default risk, and economic growth impacts among state and local issuers illustrate the need for deliberate credit selection and differentiation in required yield compensation.

- Energy Independence Day by John C. O'Hara, Jr., Senior Advisor and Managing Director

North American energy production is a "game changer" that has the potential to reshape the U.S. economy and industries indirectly and directly affected by the value chain of oil and gas production.  The case has only improved since Rockefeller published a white paper on the subject in 2012.

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About Rockefeller & Co., Inc.
Headquartered in New York and with offices in Boston, Washington D.C., Stamford, Connecticut, and Wilmington, Delaware, Rockefeller & Co. provides comprehensive investment and wealth management services to a diversified client base of families, trusts, foundations and endowments and other institutions. As of March 31, 2013, the firm and its subsidiaries had approximately $41.5 billion in client assets under administration. For additional information, please visit www.rockco.com.

SOURCE Rockefeller & Co., Inc.