Playing Offense
Investors should review existing policies regarding portfolio rebalancing and tactical asset allocation and ensure they have a strategy to play offense during the next downturn.
Research Publications Archive
Managing Portfolios Through Equity Market Downturns
Investors will improve their chances of successfully navigating the next equity downturn—whenever it occurs—by formulating a plan and securing buy-in from relevant stakeholders.
Frontier Markets: The Next Frontier in Your Portfolio?
Are frontier markets corrupt, politically driven, and dangerously speculative? Or, are they budding blossoms destined to deliver strong returns? This publication aims to help investors to decide whether and how to integrate FM equities into portfolios, assess underappreciated FM risks, and discuss implementation considerations.
Community Foundations: The Power of Aggregated Capital
Community foundation assets have grown steadily over the years, accumulating a mix of endowment funds and other funds with more expedient spend-down expectations. With the right expertise and attention, the endowment model can be applied to these complex, dynamic assets to differentiate the foundation and deliver on its mission. This paper discusses how community foundations can develop customized investment programs to better support their long-term goals.
Revving UK Pension Schemes’ Funding Engines
A number of UK defined benefit pension schemes have experienced significant funding level gains in recent years, driven by sponsor contributions, liability management exercises, and strong equity market returns. However, due to increased volatility in global equity markets, relatively high valuations in many market segments, and the late stages of the economic and credit cycles, optimising the scheme’s growth engine is more challenging than ever. This paper provides a framework for how to achieve that goal.
Does a Dovish Fed Doom the US Dollar?
No, we do not think Federal Reserve rate cuts signal a major downturn in the US dollar.
Foundation Annual Investment Pool Returns: Calendar Year 2018
Summarizes returns, asset allocation, and other investment-related data for 109 foundations for the year ended December 31, 2018.
Currency Views and Valuations: June 30, 2019
This chart book presents commentary and analysis of historical currency momentum, valuation, and fundamentals in nine base currencies: Australian dollar, British pound, Canadian dollar, euro, Japanese yen, New Zealand dollar, Singapore dollar, Swiss franc, and US dollar.
Whistling Past the Covenant-Lite Graveyard: A Sanity Check in Practical and Philosophical Terms
The recent shift in common wisdom with respect to covenant-lite loans hearkens the warning to be careful of changing opinions in the face of unchanging facts and steadfast opinions. This note summarizes the pro–covenant lite positions articulated to us and points out their weaknesses.
Pathways to Sustainable Investing: Insights from Families and Peers
Every day, CREO and Cambridge Associates encounter wealth owners, families, and family office professionals who are starting down the path of sustainability investing. This paper details the typical path these investors take, the questions many of them face, and the way that many of them successfully develop a winning strategy that generates both returns and impact.