A detailed report on the emergence of unconventional asset allocation (UAA) products in the markets. This report discusses the philosophy, common characteristics, advantages, and disadvantages of UAA. It also looks at the different methods of applying UAA and the roles it can fill in a portfolio.
In July 2006, the American Institute of Certified Public Accountants issued a “Practice Aid” to guide the auditors of institutions with investments in alternative assets. This report is a review of the implications of the Practice Aid based on discussions with major auditing firms, careful examination of the Practice Aid, and Cambridge Associates` familiarity of…
In order to be bullish, investors must make some heroic assumptions.
While returns have been strong across European markets, the financials sector remains in the driver’s seat.
This report analyzes how quantitative investment practices enhance the investment process and in which types of portfolios they usually flourish.
Caveat emptor as spread product proliferates.
Valuations make the case for overweighting the very largest firms within a U.S. equity allocation.
Although U.K. equities are approaching their year 2000 highs, history implies the secular bear market is not yet over.
A concise review of issues pertinent to investment committee members, particularly (1) the law applicable to fiduciary responsibility; (2) its enforcement; (3) its evolving interpretation; and (4) second-order effects centering on changing views of accountability and risk, and coming from auditors and debt rating agencies.
Investors in the Japanese market have enjoyed a good run under the Koizumi Administration but will need to monitor whether Koizumi’s successor continues the reform process.