The Private Path to Latin America’s Most Dynamic Sectors
For investors seeking regional diversification and differentiated exposure to emerging markets, Latin American private equity and venture capital warrants serious consideration.
Research Publications Archive
Is a Crisis Likely in the UK Commercial Property Sector?
No, but we do expect UK commercial property prices to re-rate to a lower level as investors grapple with the consequences of the Brexit vote.
Has the GBP Bottomed? Not Likely
History implies there is more downside for the pound; we expect the currency to remain volatile and range bound as the long road to Brexit is just starting.
Brexit: Outlier or Harbinger?
Investors should take seriously the prospect that Brexit is different from the crop of recent crises. Given that a substantial (and growing) constituency across EU countries now supports a breakup, the risks of real departures from the Eurozone no longer seem so remote.
Will Europe and Italy Reach an Agreement on the Fate of Italian Banks?
With serious political risks and the possibility of contagion if left unresolved, a solution to the Italian banking crisis that avoids substantial hits to bank bondholders and creditors is likely.
Review of Market Performance: Fiscal Year 2016
Investors grappled with the trajectory of global growth and the dramatic increase in negative-yielding debt in the year ended June 30, 2016. This brief chart book looks at returns and other market metrics for fiscal year 2016.
CA Perspectives: Spring/Summer 2016
The spring/summer issue of CA Perspectives puts private investments in focus. In “Private Investments Are More Accessible Than You Think,” Craig Smith and Jill Shaw explain why private investing isn’t just for the largest investors. David Thurston and David Shukis discuss why investors with more than 15% in private investments have been the top performers over the long term in “Cambridge Conversations.” In “The Search for Tax-Efficient Alpha,” Philip Walton shares why private investments offer unique benefits for private investors. Our client profile of The Grantham Foundation for the Protection of the Environment highlights how the Foundation uses private investments for returns and impact.
Spending Policy Practices: 2016
Setting an appropriate spending policy is an important part of effective endowment management, as an institution’s spending policy serves as a bridge that links the long-term investment portfolio (LTIP) 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.
How Is the Structured Credit Market Changing?
Structured credit markets are being affected by technical factors as investors confront modest new issuance, constrained dealer inventory, and lower liquidity than the norm in recent years.
Should Investors Reposition Portfolios in Light of the UK Referendum to Leave the European Union?
No, assuming investors have heeded our advice to keep diversifying assets defensive.