Research Publications Archive

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.

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.

What to Expect From Your Direct Lenders When the Cycle Turns

Direct lending, or senior debt, funds have come to dominate the private credit asset class, capturing significant portfolio allocations and outpacing fundraising of other private credit strategies. However, over the past 18 months, Cambridge Associates has felt enthusiasm for senior debt allocations cool as discussions turn to senior debt funds’ performance through the credit cycle.