Equity Portfolio Protection – The Cost of ‘Costless’ Collars
This brief report examines various portfolio protection products, their risks, cost, and effectiveness.
Research Publications Archive
Unitization: An Introduction
A primer on unitized accounting including information on creating and withdrawing units, appreciation/depreciation, and income allocation and distribution.
Managing Post–Venture Distributions
This short paper examines the relative merits of four distinct options for managing in-kind distributions. Also included is contact information for seven representative post-venture and distribution managers.
European Venture Capital
An assessment of the opportunities and risks in the venture capital industry in the U.K. and continental Europe using the following criteria: economic environment, cultural attitudes, deal flow, investment skill, management pool, regulatory environment, capital availability, technology breakthroughs, and availability/liquidity of IPO markets.
Firing Managers: Should Performance Be Your Guide
A demonstration that short-term performance is a poor criterion on which to base manager hiring decisions.
U.S. Equity Indexing
This guide to indexing addresses methods (replication, sampling, optimization), benchmarks, transactions costs, fees, and client servicing.
Diversification: A Warning Note
This paper advises investors to carefully examine the risk, return, and correlation characteristics of their portfolios against those on which policy allocations are based; and rebalance from equities to bonds, from growth to value, and from financial to real assets.
Planned Giving
Planned giving programs may face a number of challenges. There may be a tension between fund raisers and those charged with investment oversight, and inadequate gift acceptance criteria, poor investment planning, and high administrative costs can further complicate the situation. This report details Cambridge Associates` recommendations to nonprofits for combating the challenges mentioned above and…
An Evaluation of U.S. Equity Manager Structures
This report analyzes diversified growth/value active manager structures and their underperformance relative to common benchmarks.
U.S. Stock Manager Selection
A summary of manager selection and evaluation.