Last Week at a Glance
Equity markets were mixed last week despite US macro data coming in above expectations and recent Chinese stimulus…
Recent Publications
Will Japanese Equities Outperform Global Equities in US Dollars?
No, we do not expect Japanese mid-/large-cap equities to outperform their global peers despite some supportive factors, such as Tokyo Stock Exchange (TSE) reforms and inflows from security investment schemes.
Last Week at a Glance
Equity markets were mixed last week despite US macro data coming in above expectations and recent Chinese stimulus announcements, which boosted sentiment for local assets.
Asia Insights: Seeking Stable Returns
With the global economy showing signs of cooling and Chinese economic momentum remaining weak, the outlook for Asian markets is increasingly mixed.
Should Investors Diversify Away From Mega-Cap Tech Stocks?
Yes, investors should diversify in a risk-controlled manner, as mega-cap tech stocks have delivered exceptional fundamentals but are expensive and represent an outsized share of the equity markets.
The Fed Cuts Aggressively, but Remains Cautious About Future Cuts
The Federal Reserve has reduced the target range for the federal funds rate by 50 basis points (bps) to 4.75%–5.00%, the first reduction in over four years.
Would US Private Capital Flows into Climate Solutions Remain Strong in a Second Trump Administration?
Yes, we believe that private investment in climate solutions would continue apace in a second Trump administration, given strong demand for clean energy, supportive and resilient US government policies, and robust investment opportunities that will continue to be attractive to many investors.
Simplifying Net Zero Implementation: Possible Pathways to a Portfolio That Can Be Good for the Climate
Investors can simplify net zero implementation by prioritizing practical and pragmatic steps towards real world emissions reduction. We provide both a feasible pathway to climate impact for investors with a mature portfolio and a template for building a net zero portfolio from scratch.
US Election Anxiety: Keeping Calm Amid Political Uncertainty
Markets have been jittery as the US presidential election approaches. The macro backdrop is shifting, with slowing economic growth and ebbing inflation meaning a cycle of monetary easing beckons. At the same time, elevated valuations for a variety of assets are causing investors to reconsider narratives around themes, such as AI investment, and consider asset allocation tweaks. Investors should resist positioning portfolios for any one political outcome and remember that increased market volatility around elections is common. In the following report, we discuss our views on five common election-related narratives in the marketplace today.
Private Investment Fund Terms: Fees and Distribution Waterfall
This inaugural private investment fund terms publication highlights terms such as management fee, transaction fee offset, distribution waterfall, and GP clawback based on activity from 2018–22, The proprietary data found in this publication will help to keep clients well-informed about marketplace commonalities regarding these terms.
Will Federal Reserve Rate Cuts Trigger Outperformance for Chinese Equities?
No, Federal Reserve rate cuts alone are unlikely to trigger sustained outperformance for Chinese equities.
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, 2024
Monthly review of market action with the key charts for the month and a snapshot of index performance in major currencies
Quarterly Publications
VantagePoint: As the Narratives Turn
CA’s house view and advice, written by our Chief Investment Strategist, Celia Dallas
Endowments Quarterly: Second Quarter 2024
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 2024
Presents quarterly representative long-only and hedge fund manager performance.
Benchmark Commentary
Analysis of the performance shown in our private investment benchmarks