2025 Mid-Year Market Outlook

Mr. Friederich serves as Principal Director, Investment Solutions Strategy at Envestnet | PMC and is responsible for providing strategic direction, project management, and functional oversight across the firm’s research and due diligence, portfolio management, and high net worth business units. He also serves on PMC’s Investment Committee. Mr. Friederich has been a member of the Envestnet|PMC team since 2008, having historically performed manager research and due diligence on fund strategist portfolios, separate accounts, mutual funds, and ETFs across various asset classes. Prior to joining the firm in 2008, Mr. Friederich was with Pitney Bowes, Inc., where he served as an Investment Specialist on the firm’s multi-billion dollar domestic and international pension investment portfolios. He holds a BS degree in Finance from the University of South Dakota and a MS in Finance from the University of Colorado at Denver.

Michael is a Managing Director and Chief Investment Strategist for State Street Investment Management. He is responsible for expanding the firm’s footprint and thought leadership effort through frequent contributions to the financial news media, speaking engagements and client interactions. Michael is a highly regarded speaker at industry conferences and is the author of several articles related to investment management practices. He is a member of the firm’s Senior Leadership Team.

During his 20 year career as an investment professional, Michael has served as the Global and EMEA Head of Portfolio Strategy as well as a senior portfolio manager in the Global Active Quantitative Equity Group. He has substantial experience developing long-only and long-short quantitative strategies and managing investment portfolios using quantitative disciplines. Michael has worked extensively with the firm’s global institutional and intermediary clients to help them identify investment solutions that enable them to meet their long-term financial goals.

Michael holds a BS in Finance from Bentley College. He has earned the Chartered Financial Analyst designation and is a member of the Boston Security Analysts Society and CFA Institute.

As a Senior Market Strategist and Team Lead for the Franklin Templeton Institute, Chris leverages the knowledge of the firm’s autonomous investment teams to communicate investment views and opinions to internal and external clients and prospects. He also shares key insights on the economy and financial markets with clients and prospects.

Prior to his current role, Chris was a Senior Market Strategist and the Team Leader of Capital Market Strategies in the Global Investment Strategies group at Putnam. Prior to that, he was Director of Equity Research and Portfolio Manager at DG Capital Management. Chris was recognized by CNN/Money Magazine as the top-ranked equity research provider in the United States in 2002.

Chris has a Bachelor of Science from Salem State University and an MBA from the University of New Hampshire. He is a member of the CFA Society Boston and the Market Technicians Association. Chris holds his Series 7 and 63 licenses with FINRA.