Healthcare systems appear to have navigated the most severe financial impact of the pandemic. We believe the present time provides an opportunity to reset investment strategy and recalibrate portfolios as necessary.
The 2020 Under the Microscope analysis highlights US PE industry trends leading into the COVID-19 crisis. The analyses indicate that 2019 was in many ways a continuation of the cycle of elevated acquisition and leverage multiples, with PE-backed companies showing sustained revenue and EBITDA growth.
As 2020 comes to a close, we expect some key investment drivers to persist into next year. While our views speak to many different challenges confronting investors, including the poor bond yields on offer, the fate of US-China relations, and where to find growth, they are rooted in the belief that 2021 will be a year of healing for the global economy.
Interest in China’s onshore bond market has been rising steadily since 2016 when the market was thrown open to foreign investors. Foreign holdings of onshore bonds now exceed US$400 billion and are set to rise further. We think the market warrants further attention from global investors, given Chinese bonds continue to offer higher yields and lower correlations than those found in other major bond markets, with the potential to bring portfolio diversification benefits.
Overview Of the 202 Cambridge Associates clients that responded to the 2020 survey, 100 reported engaging in sustainable and impact investing (50%) and an additional 23 reported engaging in ESG integration and/or impact investing, though they answered “no” to the SII engagement question, bringing the total to 123 (61%) reporting engaging in sustainable and impact…
The College and University Flash Statistics Report provides a first look at the results of our 2020 College and University Investment Pool Returns survey. Included in the analysis are a summary of investment pool returns and asset allocation for 159 colleges and universities. Additionally, the report provides detailed data by institution on asset allocation and…
As many had expected, the US presidential election turned into more of a process than an event.
In an era of historically low interest rates, heightened risk of yield curve steepening complicates pension risk management.
The current health crisis is creating extraordinary financial disruptions for nonprofit enterprises. While institutional needs and resources are far from uniform, each must tread carefully and evaluate thoughtfully before making short-term spending decisions that will impact the institution forever.
Our biannual report summarizes asset allocation and total investment performance for 31 of Cambridge Associates’ UK foundation and endowment clients.