Last Week at a Glance
Global equities ticked lower last week, posting their first decline of 2023, as notable US economic data releases…
Recent Publications
From Policy to Implementation: A Net Zero Playbook for Investors
While climate awareness is essential for all investors, others seek to be more ambitious by adopting a net zero goal for their portfolios. This paper explains the rationale for doing so and outlines an approach for target setting and implementation. A net zero policy focuses on decarbonizing the real economy. Investors have two powerful levers to do this: (1) stewardship and engagement; and (2) climate solution investments.
Are US Equity Investors Too Sanguine About US Economic Prospects?
Yes, it is likely that the “softish landing” implied by forward consensus earnings expectations will fail to transpire.
Private Company Operating Metrics: Global Analysis
Our annual analysis comparing private equity globally with public peers.
Last Week at a Glance
Global equities ticked lower last week, posting their first decline of 2023, as notable US economic data releases surprised to the downside.
Under the Microscope: Private vs Public Company Operating Metrics for US Companies
This analysis includes our observations on key metrics by which private equity managers execute their strategy.
The Work of a Lifetime: Spend-Down Funds
A growing number of institutions and families are choosing to spend down assets over a limited time, rather than investing in perpetuity. There are valid arguments for—and against—using a spend-down approach to achieve philanthropic and investment goals. This paper provides historical context for spend-down funds, considers nuances for achieving good governance, and suggests an approach for dynamic asset allocation strategy, with case studies as illustrations.
US PE/VC Benchmark Commentary: First Half 2022
In first half 2022, US private equity and venture capital broke their trend of sustained positive performance as the downturn in the public markets spilled over to privates.
Global ex US PE/VC Benchmark Commentary: First Half 2022
According to Cambridge Associates indexes, private equity and venture capital in the developed markets underperformed those in emerging markets in first half 2022.
Will Monetary Policy Become Less of a Headwind for Markets in 2023?
Yes. Markets will be less vulnerable to rising rate risk next year, as the aggressive tightening that has weighed on markets for much of 2022 has moderated more recently since inflation has slowed.
Sustainable and Impact Investing 2022: Insights and Perspectives
In our 2022 Sustainable and Impact Investing Survey, we reached out to Cambridge Associates clients for insights into how investors are thinking about sustainable and impact investing, as well as to identify changes in the field over the past two years and to understand possible future trends. Of the 144 clients who responded, 93 reported engaging in sustainable and impact investing, and this chart book explores trends in the investment structure, implementation strategies, and governance and measurement of sustainable and impact investing.
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: December 31, 2022
Monthly review of market action with the key charts for the month and a snapshot of index performance in major currencies
Quarterly Publications
VantagePoint: Three Big Questions
CA’s house view and advice, written by our Chief Investment Strategist, Celia Dallas
Endowments Quarterly: Third Quarter 2022
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: Third Quarter 2022
Presents quarterly representative long-only and hedge fund manager performance.
Benchmark Commentary
Analysis of the performance shown in our private investment benchmarks