2022 Economic Outlook

A Long-Range Economic Look at the Year 2022


Economy & Bond Market






Federal Reserve & Labor Market






Earnings, Energy & Risk Appetite






Inflation

About The Speakers

Economy & Bond Market


Trent D. Dysert, CFA
Associate Director of Research, Assistant Vice President, Portfolio Manager
Investment Committee Member


Neil Craft
Client Relationship Manager


Neil and Trent are registered representatives of ALPS Distributors, Inc.

Federal Reserve & Labor Market


Brian P. Shepardson, CFA, CIC
First Vice President and Portfolio Manager
Secretary and Assistant Treasurer James Advantage Funds
Investment Committee Member


Neil Craft
Client Relationship Manager


Neil and Brian are registered representatives of ALPS Distributors, Inc.

Earnings, Energy & Risk Appetite


Moustapha Mounah, CFA, ERP
Research Analyst
Energy Risk Professional (ERP)—Certified by the Global Association of Risk Professionals (GARP)
Investment Committee member


Neil Craft
Client Relationship Manager


Neil Craft is a registered representative of ALPS Distributors, Inc.

Inflation


David W. James, CFA
Senior Vice President, Director of Research, Portfolio Manager
Senior Investment Committee Member


Neil Craft
Client Relationship Manager


Neil Craft is a registered representative of ALPS Distributors, Inc.

Economic Outlook & Definitions

Balanced

Typical Allocation Range

Equity: 40% - 70%
Fixed Income: 30% - 60%
Cash: 1% - 15%

Small, mid, and large cap stocks
Benchmark: 25% Russell 1000® Index , 25% Russell 2000® Index and 50% Bloomberg Barclays Aggregate U.S. Intermediate Government/Credit Bond Index

The Balanced strategy has a target range of 40% - 70% in equities, with a mix of small, mid, and large capitalization stocks. We weight the stock exposure toward the most advantageous market capitalizations based on our research.

Sector analysis in an important part of our portfolio management process. Changes in sector weightings are made based on our analysis.

We believe that having the maximum flexibility to follow our research is the key to adding value to our clients' accounts.