Trade Finance: An Expanding Opportunity for Institutional Investors
Providing high liquidity, good return premiums over cash, and a predictable risk profile, trade finance can play a valuable role in portfolio strategy.
Research Publications Archive
Currency Views and Valuations
This chart book presents commentary and analysis of historical currency momentum, valuation, and fundamentals in five key base currencies.
Should Investors Reposition their Portfolios in Response to Recent Tariffs and the Rising Threat of Trade Wars?
Investors with thoughtfully diversified portfolios, which incorporate sufficient liquidity, should stay the course amid today’s trade tensions.
Abenomics and Japanese Equities: A Promising Outlook, But Risks Remain
Japan’s long-term economic outlook looks brighter, and the positive structural and governance changes achieved under prime minister Shinzo Abe have improved the opportunity set for long-term institutional equity investors. This progress—paired with improving corporate fundamentals and reasonable valuations—boosts the appeal of Japanese equities. But, several ongoing internal and external risks to the reform agenda and economic outlook require monitoring.
Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 31 of Cambridge Associates’ UK foundation and endowment clients.
Thoughts on the “Retail Apocalypse”
Retail is changing and some companies face challenges, but this theme has probably been overhyped, and implications for investors are limited.
Is it Time to Sell Energy MLPs?
We don’t think so. For those investors that can hunker down and tolerate this industry’s swings, rewards may be in their future.
Comparative Asset Allocation: Private Clients
Our biannual report summarizes asset allocation for over 160 of Cambridge Associates’ US-based private clients.
Liability-Hedging Handbook: A Guide to Best Practices for US Pension Plans
For many pension plans, investment strategy is often structured with a liability-hedging portfolio and a growth portfolio, with the weight and composition of each determined by a strategic asset allocation or a de-risking glidepath. Within this overall structure, the construction and calibration of the liability-hedging portfolio is integral to effective pension asset management. This report focuses exclusively on the liability-hedging portfolio, delineating key considerations and best practices for single-employer defined benefit plans including those sponsored by corporations, health care institutions, non-profit organizations, and certain partnerships.
Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy. Although we expect these pressures signal an increased risk of an inflation scare, we believe the most likely outcome in 2018 is for inflation to grind only modestly higher.