Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 27 of Cambridge Associates’ UK foundation and endowment clients.
Research Publications Archive
The Opening of China: An Update for Investors
Despite its economic size, China remains under-represented in global investment benchmarks. Recently announced reforms have the potential to improve investor access and increase China’s weight in global benchmarks.
Elevated Valuations for “Smart Beta” Strategies: A Crash Waiting to Happen? We’re Not So Sure.
We see scant evidence that richening valuations doom popular alternative beta strategies to underperformance, or that they are the primary source of historical excess returns.
Comparative Asset Allocation: Private Clients
Our biannual report summarizes asset allocation for 107 of Cambridge Associates’ US-based private clients.
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.