Comparative Asset Allocation: Private Clients
Our biannual report summarizes asset allocation for 107 of Cambridge Associates’ US-based private clients.
Research Publications Archive
Given Today’s Investment and Macroeconomic Environment, Is it Appropriate to Meaningfully De-Risk Portfolios?
In this edition of CA Answers, two members of our Global Investment Research team share their differing perspectives on whether investors should temporarily de-risk portfolios today. Sean McLaughlin argues that diversified portfolios incorporate shock absorbers already, and that temporarily boosting tilts to defensive assets is likely to be counter-productive. Eric Winig agrees that market timing…
Don’t Forget the Credit Spread!
While corporate plan sponsors are keenly aware of interest rate risk within their defined benefit plans, few fully appreciate the complex and significant risk posed by credit spreads.
Eurozone Equities: Dialing Down Expectations
Though valuations for Eurozone equities remain attractive, waning earnings growth and the difficult macro picture keep us neutral for now, but continuing to watch closely as US valuations push ever higher.
The Foundation of Good Governance for Family Impact Investors: Removing Obstacles and Charting a Path to Action
Before incorporating impact investments into their portfolios, we encourage families to define the overall context for their impact investments. Our contextual framework—focused on purpose, priorities, and principles—establishes the base of impact strategy and guides the development of governance structures. These elements will help ensure that family values and decision-making processes are advantages rather than obstacles in pursuing impact investing goals and objectives.
Opportunities Arising From Banking Sector Stress in Europe
The vacuum being created by banks withdrawing from previous activities is opening up opportunities for strategies like non-performing loan funds focused on the region.
Do Investors Have Time to Switch Cash Vehicles Before October’s US Money Market Reforms Take Hold?
Yes, although as the mid-October deadline for significant regulatory-driven changes to US money market mutual funds draws near, investors that wait may find themselves with fewer options for funds that will continue to offer stable net asset values.
The Presidential Cycle: Less Than Meets the Eye
Investors should cast a critical eye on claims that the presidential cycle will provide investment/trading opportunities.
Are the Forces Creating Record Low Government Bond Yields Here to Stay?
Investors that buy developed markets government bonds have been faced with unpalatably skimpy or even negative yields on offer for some time. The question is no longer why, but for how long? Fed funds futures and benchmark ten-year US Treasuries suggest the answer is several more years, a similar timeline to other markets. But as we know, markets have a tendency to surprise.
Annual Analysis of Foundation Investment Pool Returns: Calendar Year 2015
This report reviews portfolio returns, asset allocation, investment management structures, and payout characteristics for 113 foundations. Analysis and exhibits include performance attribution, risk analytics, policy portfolio benchmarking, the impact of private investment programs on portfolio liquidity, the use of external managers by asset class, payout rates, payout distribution components, and payout objectives.