Provides investors with a background of hedge funds in the region as well as their current performance. A key question for investors considering an allocation to Latin America is whether hedge fund strategies constitute a better option than long only and/or offer a differentiated return stream. At this time, we consider Latin American hedge funds…
Muni bondholders were left in the cold in 2008 as liquidity premia soared and Treasury bonds became hot properties. Issuers are making their case in Washington for federal backing of their securities, but we believe defaults among upper-tier muni credits should remain low regardless.
With U.S. Treasury yields at their lowest levels in over 50 years, the effectiveness of Treasuries as a “deflation hedge” has been greatly diminished. While the current environment still demands that investors maintain deflation protection, investors should take advantage of the recent rally in Treasuries to rebalance allocations back to target and actively seek to…
For all its flaws, the Eurozone is currently more beneficial than costly to member countries, and thus it is very unlikely the euro will break up anytime soon.
In March 2009 a group of U.S. colleges and universities were invited to participate in a brief survey on spending policy as an update to a similar survey that was conducted in 2008. The survey asked about the policies in place, as well changes that were being implemented or were under consideration for future implementation….
An update to our October 2008 web publication, this paper revisits strategic questions and advises investors to think carefully about the economic and political dimensions of investment decisions.
Highlighting the differing views on the commodities supercycle, this commentary focuses on the historical context of commodities’ supply and demand factors, specifically their effect on investments; examines energy equity valuations; and provides our advice on building or adding to positions in real assets.
While current yields and spreads over government bonds make euro-denominated investment-grade credit a potentially viable option, investors should also recognize that this market may be less attractive than others, such as the US$-denominated corporate sector, which offers higher absolute yields and presents fewer uncertainties.
The current environment provides institutional investors a unique opportunity to bring their alternative asset fund manager relationships into better alignment and this paper presents our perspective on what terms we consider to be reasonable for non-marketable alternative asset strategies and hedge fund strategies.
The macroeconomic outlook remains extremely challenging as the long overdue global rebalancing begins; investors need to make sure they are prepared for what may be a prolonged period of volatility and the possibility of new lows in asset markets.