Incorporating Tax-Managed Long-Short in Client Portfolios

Summary

Tax-efficient investing is growing rapidly as advisors focus on maximizing clients’ after-tax outcomes. Tax-managed long-short portfolios add a powerful tool to the advisor toolkit—offering the potential to enhance returns, manage risk, and harvest losses more consistently across market cycles. In this session we will address how tax-managed long-short strategies work, which clients benefit most from using them, and practical ways to integrate them into client investment portfolios. We will use case studies to illustrate how investors have addressed the question of whether to invest in long-only portfolios (“direct indexing”) or extend the portfolio to long-short.

Learning Objectives:

• Identify client profiles that benefit most from tax-managed long-short portfolios
• Understand how tax-managed long-short strategies fit within a broader portfolio
• Outline key risks and considerations associated with long-short investing

Speakers

Jacob Greene

Senior Vice President, Neuberger Berman

Jacob Greene, Senior Vice President, joined the firm in 2022. As Head Strategist for NB Custom Direct Investing (CDI)™, he is focused on developing the custom SMA platform and supporting client efforts. Previously, Jacob spent over a decade in various positions at Parametric, Eaton Vance and Morgan Stanley, working with RIA and Private Bank clients on due diligence, platform placement and distribution of direct investing solutions. He received his BBA from Pacific Lutheran University.

Ray Carroll, PhD, CFA

Managing Director, Neuberger Berman

Ray Carroll, PhD, CFA, Managing Director, joined the firm in 2017. As Chief Investment Officer for the Breton Hill quantitative investing team, Ray is responsible for active equity strategies, tax-managed strategies, and diversifying alternative strategies. Previously, Ray was a co-founder and the Chief Executive Officer of Breton Hill Capital before it was acquired by Neuberger Berman. He was formerly the Chief Investment Officer for the Mosaic division of Diversified Global Asset Management (DGAM), an alternative investment firm that was subsequently acquired by The Carlyle Group. Ray started his career as Senior Manager at RBC Royal Bank and Vice President at RBC Capital Markets. Ray holds a PhD in Mathematics from the University of Florida in the field of Inverse Problems and both a MSc and BSc in Mathematics from Dalhousie University.

Overview

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