Comparative Asset Allocation: Private Clients
Our biannual report summarizes asset allocation for 103 of Cambridge Associates’ US-based private clients.
Research Publications Archive
Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 29 of Cambridge Associates’ UK foundation and endowment clients.
With Emerging Markets in Turmoil this Year, Are Active Managers Becoming More Aggressive or De-Risking?
Neither. The emerging markets equity managers that we respect and follow closely have not become meaningfully more aggressive; however, many have used the volatile market conditions to do some bargain hunting, upgrade portfolios, and modestly shrink their cash balances.
Mission-Related Investing: Insights and Perspectives
Investor approaches to mission-related investing (MRI) are as varied as the social and environmental outcomes they seek to achieve. Based on responses from 148 clients—54 of which are engaged in mission-related investing—this chart book explores trends in the structure, implementation, and governance of MRI programs; investor motivations and perceived challenges; and expectations for future growth in MRI investment activity.
Gender Lens Investing: Impact Opportunities Through Gender Equity
With a gender lens framework, investors can positively impact gender imbalances via their portfolio management choices; this paper provides tangible investment themes and implementable strategies.
Origination Year Defaults: A Canary in the Credit Coal Mine?
When evaluating US credit trends over the last two decades, an institutional loan default that occurs within its year of origination has often been an ominous sign The idea resembles the closely monitored first payment–default metric that consumer lenders track as a bellweather for loan quality A loan default within its year of origination has…
Will Value Stocks Be Able to Outperform Growth Again, Given the Rising Dominance of Tech?
Growth stocks may continue to outperform value for a bit longer this cycle, but we think it quite premature to declare the death of value.
Rising from the Ashes: Key Developments Since the Global Financial Crisis
In this report, we briefly highlight five key post-GFC developments and discuss how investors might adapt their portfolios to these changes.
Spending Policy Practices: 2018
Annual distributions from the endowment are a source of supplemental operating revenue for most endowed institutions, as an institution’s spending policy serves as a bridge that links the long-term investment portfolio and the enterprise. The data and analysis in this report cover a variety of spending topics including spending rule types, the endowment’s support of operations, and effective spending rates. This year’s report draws on a supplemental study Cambridge Associates conducted in April 2018 to dive deeper into some technical factors of spending policy, specifically focusing on spending from new endowment gifts.
In Light of Ongoing “Brexit” Uncertainty, Should Investors Reduce Exposure to UK Equities?
No, investors should consider staying the course. Though developments and headlines associated with the United Kingdom’s Article 50 negotiations with the European Union have been and likely will remain fitful, they reflect more the political nature of the process and less the underlying fundamentals of the economy and its listed equities.