Portfolio Liquidity
Investors that have inflexible spending needs and large allocations to illiquid assets should plan how they will tackle the next downturn’s liquidity challenges.
Research Publications Archive
Diversification Challenges
As investors prepare for the next equity market downturn, they should take a closer look at the benefits and limits of diversification.
Behavioral Roadblocks
Bear markets often trigger emotional responses that can sometimes lead investors to act contrary to their long-term objectives; as such they need simple strategies to help overcome their worst instincts.
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.
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.