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.
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.
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.
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.
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.
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.
No, assuming investors have heeded our advice to keep diversifying assets defensive.
With virtually limitless choices along the asset allocation spectrum, an allocation to private investments greater than 15% has served many investors well. Are you on the right track?
The Gulf region’s rapid rise in wealth over the past two decades has prompted increasing demand for Shariah-compliant offerings. While a full suite of solutions for institutional investors is still developing, the opportunity set today is sufficient to build a Shariah-compliant portfolio that offers growth, some diversification, and some protection against macroeconomic risks.
The market has not become too complacent and continues to register the many potential risks on the horizon.