Last Week at a Glance
Both global equities and bonds sold off last week as markets digested a firmer-than-expected inflation report in the…
Recent Publications
Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 19 of Cambridge Associates’ UK foundation and endowment clients.
Have Public Market Returns Permanently Eclipsed Private Market Returns?
No, while the public market’s outperformance may seem like a total eclipse, this one, like all eclipses, will be temporary.
Last Week at a Glance
Both global equities and bonds sold off last week as markets digested a firmer-than-expected inflation report in the US.
Role Models: Pensions Can Use Data to Optimize PI Allocations
Many pensions avoid private investments out of fear that long-term capital lockups could elevate liquidity risk. This paper aims to help pension executives better understand how data can enable their effective use of private investments and discusses how new investment policy approaches may help to take advantage of market opportunities.
Has the Euro Area’s Economy Bottomed?
Yes, we believe that the euro area’s economy bottomed either in fourth quarter 2023 or first quarter 2024.
Decades of Data: United States 1900–2023
The 2023 US edition of our annual report on the history of financial markets provides context for the range of returns investors can expect from equities, bonds, and cash; reveals the importance of various components of equity returns; examines the evidence for equity mean reversion; and reviews the relationship between initial valuations and subsequent returns for equities and bonds.
Endowment Radar Study 2023: Endowment Dependence Grows with Higher Costs
Higher costs and higher rates of endowment spending are the major story lines of the 2023 Endowment Radar Study. Over the past year, the endowment provided a stable source of funding to for the growing costs of private college and university business model.
Should Investors Chase the Bitcoin and Gold Rallies?
No. While recent developments may be a sign that bitcoin is gaining credibility, it remains a highly speculative investment that offers no cash flows.
Better Alternative(s): Private Investments May Improve Outcomes for Defined Contribution Plan Participants
Today’s defined contribution plan participants desire—and deserve—institutional-quality investment management, including the diverse selection, robust due diligence, and potential returns that this classification implies.
Can US Equity Dominance Be Sustained?
No, we anticipate performance will broaden out beyond mega-cap tech stocks, which have driven US equity performance in recent years.
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: March 31, 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: Can US Equity Dominance Be Sustained?
CA’s house view and advice, written by our Chief Investment Strategist, Celia Dallas
Endowments Quarterly: Fourth Quarter 2023
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: Fourth Quarter 2023
Presents quarterly representative long-only and hedge fund manager performance.
Benchmark Commentary
Analysis of the performance shown in our private investment benchmarks