Will Federal Reserve Rate Cuts Trigger Outperformance for Chinese Equities?
No, Federal Reserve rate cuts alone are unlikely to trigger sustained outperformance for Chinese equities.
Research Publications Archive
Do Emerging Markets Equities Deserve a Place in Public Equity Portfolios?
Yes. Emerging markets equities provide a fitting reminder that relative performance among asset classes varies over time, suggesting that investors maintain well-diversified portfolios to weather shifts in performance cycles.
Should Investors Alter Portfolios Considering the Equity Market Rout?
No, not right now. We continue to believe investors should: (1) keep equity allocations aligned with broad policy targets; (2) maintain modest overweights in less expensive areas within equities, such as developed markets value and small caps; and (3) maintain a modest overweight in long US Treasury securities within bond portfolios.
Review of Market Performance: Fiscal Year 2024
Most risk assets enjoyed strong returns in fiscal year ended June 2024. Developed markets equities led on better-than-expected economic data and the anticipation that central banks would begin easing monetary policies.
Foundation Annual Investment Pool Returns: Calendar Year 2023
Our annual survey-based report summarizes returns, asset allocation, and other investment-related data for 110 foundations for the calendar year ended December 31, 2023, across five sections: Investment Portfolio Returns, Investment Policy, Portfolio Asset Allocation, Investment Manager Structures, and Payout From the Long-Term Investment Portfolio.
A Liability Investors’ Guide to Reassessing Hedge Funds
Hedge funds offer a strategic opportunity for investors willing to navigate their complexities, with significant diversification and growth prospects that stand out from traditional asset classes. This paper discusses the primary risks associated with hedge funds and presents four actionable guidelines for effectively incorporating these strategies into portfolios.
Are Inflation-Linked Bonds Attractive?
Yes. Inflation-linked bonds, particularly US Treasury Inflation-Protected Securities (TIPS), have become an attractive investment option, given elevated real yields and their unique diversifying characteristics.
Is the French Election Another Existential Risk for the Eurozone?
No, we do not believe that the French election poses any immediate threat to the Eurozone, in contrast to several prior Italian parliamentary and French presidential elections.
Unlocking New Opportunities for Family Investors Through Private Funds
Enterprising families seeking more comprehensive private allocations can consider building a PI fund program to serve as a pathway to a multitude of new opportunities. Understanding the potential advantages and challenges of PI fund programs can help family investors consider whether an expansion of their private allocations is right for them.
Labour’s Big Win to Result in Policy Evolution Rather than Revolution in the UK
The Labour Party secured a sweeping victory in the UK general election, returning them to power for the first time since 2010.