The Foundation Annual Flash Statistics Report provides a first look at the results of our 2019 Foundation Annual Investment Pool Returns survey. Included in the analysis are a summary of investment pool returns, asset allocation, and returns after spending for 115 foundations. Additionally, the report provides detailed data by institution on asset allocation. Look for…
No. While increased remote working will certainly be a headwind for office demand, the notion that it will result in the “death of the office,” as some reports have suggested, seems unlikely given a number of mitigating factors.
Sustainability trends—including climate change, multi–stakeholder driven society, resource degradation, demographic challenges, and technological revolution—have already impacted investment performance. Investors that incorporate these risks and opportunities into their decision-making frameworks are likely to be better prepared for the future than their peers.
Probably not, unless we experience a V-shaped economic recovery. The sudden stop in economic activity across the globe in response to COVID-19 has triggered an economic collapse and led to an extraordinary monetary and fiscal policy response.
This paper summarizes the mechanics and treatment of GRATs, their heightened appeal right now, and the key tax, legal, and investment considerations to explore before implementing this strategy.
Despite the recent volatility, in our view, munis continue to be an attractive alternative to both Treasuries and high-quality corporates for long-term taxable investors. Even tax-exempt investors that typically don’t hold munis may want to consider them in the current environment given relative valuations and credit fundamentals.
COVID-19 plunged the global economy into a deep recession triggering concern over a surge in corporate defaults. Recent monetary and fiscal stimulus has allowed a rebound in credit assets ranging from high-yield bonds to highly rated asset-backed securities, but other markets remain dislocated.
Before COVID-19 most hospitals generated liquidity from their operating model. In our May 2020 survey of 27 hospital systems, we learned that COVID-19 has driven hospitals to search for liquidity from multiple sources, including, for some, the investment portfolio.
No, we still believe China remains an important exposure for investment portfolios. However, US-China tensions will continue to escalate. Investors need to reaffirm both the rationale and implementation of their China investment strategy and must communicate this with key stakeholders. For further reading, please see the “Decoupling” section of Celia Dallas and Wade O’Brien’s “VantagePoint:…
It has been difficult to find a more out-of-favor sector in institutional investors’ portfolios than energy over the past five years, and with the recent spread of COVID-19 reducing demand for oil & gas, that reality appears set to continue – creating both challenges and opportunities. Amid the sector’s ongoing evolution, the energy PE investment strategy that dominated the market has become outdated, and investors that wish to capitalize on potential opportunities in this market must re-think their approach.