Last Week at a Glance
Global equities ended the week flat overall, but regional performance diverged as ongoing tariff uncertainty continued to impact…
Recent Publications
Asia Insights: Managing Risk Through Diversification
Asian and global market volatility surged in early 2025 as US tariffs triggered global growth fears. Given the export-oriented nature of most Asian economies and their sensitivity to global growth and demand, the region may bear the brunt of US tariffs. As such, Asia market volatility is likely to persist in the near term, particularly since US trade policy can shift abruptly.
Is Gold’s Rally Sustainable?
No, we don’t think so. For most investors, this is more likely a time to take profits on gold rather than initiate new allocations.
Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 25 of Cambridge Associates’ UK foundation and endowment clients.
US Policy Changes Highlight Need for Portfolio Diversification
After a prolonged period of US outperformance, many investment portfolios have become heavily concentrated in US equities, but recent policy shifts now challenge US economic and financial hegemony. Investors should carefully evaluate these exposures to determine if greater diversification is warranted.
Last Week at a Glance
Global equities ended the week flat overall, but regional performance diverged as ongoing tariff uncertainty continued to impact markets differently.
Should Investors Add to High-Yielding Credit Allocations, Given the Recent Rise in Spreads?
No. We believe it is too early to add exposure to US high-yield bonds and broadly syndicated loans, as spreads for most assets are merely back to around their historical medians and could move higher from here if economic growth deteriorates.
Private Markets Bracing for Tariff Impacts
We advocate maintaining private market allocations. Investors should assess their exposures by manager, strategy, company stage, sector, and geography, and prepare to make adjustments to benefit their portfolios.
Will the Fed Cut Rates to Rescue Financial Markets?
No, we do not think the Federal Reserve will cut rates in the near term to rescue financial markets. However, if tariffs begin to significantly impact the real economy, the Fed will eventually act.
Tariff Standoff Intensifies Near-Term Risks in Asia
Global equities tumbled nearly last week following the announcement of US tariffs on April 2, with the rout continuing into Monday, April 7.
US Tariffs Increase Market Risks
Yesterday (April 2), US President Donald Trump announced sweeping new tariffs targeting nearly all US trading partners.
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, 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: Strategic Portfolio Construction in a Changing World
CA’s house view and advice, written by our Chief Investment Strategist, Celia Dallas
Endowments Quarterly: Fourth 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: Fourth Quarter 2024
Presents quarterly representative long-only and hedge fund manager performance.
Benchmark Commentary
Analysis of the performance shown in our private investment benchmarks