Last Month at a Glance
Global equities rallied in October, driven by supportive central bank policy, strong corporate earnings, and positive risk sentiment.
Recent Publications
Last Month at a Glance
Global equities rallied in October, driven by supportive central bank policy, strong corporate earnings, and positive risk sentiment.
A US-China Trade Deal Would Show Desire for Gradual Strategic De-risking, Not Abrupt Decoupling
Global markets rallied on October 26 following news that the United States and China have reached a “preliminary consensus” on several key issues. Although a formal agreement has not yet been announced, both sides are clearly working to de-escalate trade tensions that intensified in early October.
Long Bond Performance Does Not Signify an Impending Debt Crisis
Long-dated government bonds have come under pressure in recent months, but markets are not beginning to price in a fiscal crisis in our view. Drawing on market data and institutional trends, we believe they will continue to behave defensively during deflationary shocks.
Higher Endowment Spending Needed for Some in Challenging Environment
A recent Cambridge Associates survey of 104 endowments and foundations reveals that most institutions are adhering to their endowment spending policies, with 80% following policy in 2025 and 81% expected to do so in 2026.
Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 24 of Cambridge Associates’ UK foundation and endowment clients.
Building Resilient Portfolios: Liquid Diversifiers for Today’s Institutional Challenges
Liquid diversifiers represent a modern approach to portfolio construction, offering the potential for uncorrelated returns, improved liquidity, and enhanced risk management.
2024 Hedge Fund Discretionary Expense Summary
This report provides a comparative overview of management fees and discretionary expenses across five hedge fund strategies in Cambridge Associates’ manager universe—long/short equity, credit opportunities, multi-strategy, global macro, and fund of hedge funds—for the years 2022 through 2024.
Weathering the Latest US Government Shutdown
Historically, shutdowns have been short-lived and have had negligible economic and market impact. As such, well-diversified investors need not take specific portfolio action in response.
Should Investors Increase Core Real Estate Allocations Now That the Fed Has Resumed Easing?
No. Despite last week’s rate cut, we do not recommend that most investors increase their core real estate exposure.
Is the Projected Path of Fed Easing Too Aggressive?
Yes. Current market expectations for the Federal Reserve to lower its policy rate by roughly 150 basis points by the end of next year are overly optimistic.
Monthly Publications
Tactical CA House Views
Highlights our latest portfolio advice and reviews notable data for over 50 asset classes/sub-strategies, with key charts and views from our asset class specialists. Read a short introduction →
Market Matters: September 30, 2025
Monthly review of market action with the key charts for the month and a snapshot of index performance in major currencies
Quarterly Publications
VantagePoint: Electrifying Returns in the AI Era
CA’s house view and advice, written by our Chief Investment Strategist, Celia Dallas
Endowments Quarterly: Second Quarter 2025
Summarizes asset allocation and total investment performance for over 400 of Cambridge Associates’ endowment and foundation clients
Hedge Fund Update: Fourth Quarter 2022
Insights from the leaders of our hedge fund research on what drove performance in the quarter
US Manager Universe Statistics: Second Quarter 2025
Presents quarterly representative long-only and hedge fund manager performance.
Benchmark Commentary
Analysis of the performance shown in our private investment benchmarks