Australia Outlook 2017: Reflation to the Rescue
Australia should benefit from a continuation of the reflation trade, but investors should not get too excited given risks to the outlook, particularly protectionism from the Trump administration.
Research Publications Archive
Why Shouldn’t Investors Simplify to a 70/30 Portfolio?
Simple is not so sweet in the current environment. In a world of global uncertainty, investors should place a premium on diversification.
Review of Market Performance: Calendar Year 2016
Investors navigating the marketplace in 2016 witnessed uneven advances in equity markets, record low yields in bond markets, and a recovery in commodity markets. This chart book reviews returns and other metrics for the calendar year.
A New Arrow in the Quiver: Investment-Level Benchmarks for Private Investment Performance Measurement
The private equity market has evolved to become increasingly sophisticated and competitive, resulting in a profusion of specialized sub-strategies (for example, co-investing, direct investing, sector-focused strategies) and managers expanding into geographies, sectors, and/or asset classes that may be new to them and their investors. In this context, fund-level net to LP benchmarks, while still necessary, are not always sufficient to evaluate performance. This paper introduces Cambridge Associates’ Investment-Level Benchmarks and shares examples of the types of perspectives they can offer subscribers.
Real Asset Dynamics: December 2016
In this edition of Real Asset Dynamics, we analyze the returns of Cambridge Associates’ indexes of private real estate funds over various time horizons and offer our views on what investors can expect in private real estate going forward. Global private equity real estate continues to generate decent returns, earning 1.5% in second quarter 2016…
What Can Investors Expect for 2017?
The surest call to make for 2017 is that higher growth expectations will be paired with the distinct possibility of negative outcomes, putting a premium on diversification and liquidity management.
Outlook 2017: A Break in the Clouds
Change is in the air and the prospect for a bit of sunshine to break through the overhang of slow growth and lower-for-longer yields is palpable. Of course, the sun doesn’t shine forever, and overall our views are little changed. The things we have been worried about for some time—high valuations for certain risk assets, record-low interest rates, slow economic growth—have not gone away. The surest call to make for 2017 is that higher growth expectations will be paired with the distinct possibility of negative outcomes, putting a premium on diversification and liquidity management.
Eyes Wide Open for Municipal Bondholders as Pension Deficits Widen
Please see Sean McLaughlin, “Long Muni Bonds: Unloved, Orphaned, and Perhaps Safer Than You Think,” Cambridge Associates US Market Commentary, March 2011. Some muni bondholders in 2011 were terrified by a sky-is-falling prediction when Meredith Whitney, who made her name with a prescient call on bank shares during the lead up to the financial crisis,…
Are Private Equity Returns Doomed?
No. You just need to know where to look. The informed alternative investor is focused on identifying managers with the potential to outperform. Where to find these managers? The lower end of the private equity arena.
Mission-Related Investing: Current Practices and Views of Non-Profit Investors
Investor approaches to mission-related investing (MRI) are as varied as the social and environmental outcomes they seek to achieve. This survey report explores trends in the structure and implementation of MRI programs, investor motivations and perceived challenges, and expectations for future growth in MRI investment activity, based on responses from 159 non-profit clients, 50 of which are actively making mission-related investments.