Describes potential motivations for integrating environmental, social, and corporate governance considerations into investment decisions and encourages interested investors to be clear about their own reasons for doing so.
Governance of endowed institutions now requires the explicit recognition of new risks, and trustees must be aware of important changes in legislative guidelines pertaining to investing and spending, in governance disclosures required by the IRS, and even in the very definition of endowment.
The year 2010 will likely be a challenging one given the high expectations reflected in current market prices, uncertainties surrounding the economy and government policy, and the absence of clear signs of sustainable economic strength.
The removal of unprecedented stimulus brings additional risk to global markets, and the lower-leverage environment changes the playbook for investors across many asset classes.
Over the last six years the Chinese private equity market has grown and matured considerably. This paper reviews the private equity landscape in China, discusses the evolution of investment structures, and evaluates the case for private equity investing in China.
While Asian economies seem poised for faster economic growth than the developed world, these superior prospects are already incorporated into equity valuations, leaving Asian equities vulnerable to near-term disappointment.
In October 2006, Cambridge Associates conducted a Social Investing survey of all its U.S. endowed clients. The survey queried institutions on their interest and participation in social investing, as well as the objectives, governance, values, implementation, and program evaluation of those institutions who do engage in social investing. Download PDF
Thus far, record issuance of U.S. Treasuries has been absorbed by a changing mix of buyers, with increased domestic participation. Treasury buyers should tread carefully in 2010, maintaining deflationary hedges while considering the potential impact of the changing supply/demand dynamics.
Given the numerous headwinds facing the U.S. venture industry, at the moment we believe venture capital makes sense only for the small subset of investors fortunate enough to have access to select high-quality managers running appropriately sized funds.
Fed purchases of more than $1 trillion in government-related securities in 2009 have dominated the market, but a first quarter halt to these purchases may pressure prices.