Has the British Pound Bottomed?
We expect further weakness in the British pound as uncertainty over the economic impact of “Brexit” drives the currency toward GBP/USD 1.15, and an even larger decline cannot be ruled out.
Research Publications Archive
Hedge Fund-ing the Pension Deficit: The Case for UK Schemes
Select hedge funds have provided attractive long-term returns with reduced equity beta and can be integral to pension investment strategies.
The Value of ESG Data: Early Evidence for Emerging Markets Equities
Our examination of incorporation of environmental, social, and governance factors into the stock selection process for two major MSCI indexes finds evidence that ESG factors added value in emerging markets equities but not developed markets equities.
UK Property: Finding Opportunity Amid Heightened Political Risk
We remain cautious on UK property, but bold investors may find opportunities in the post-‘Brexit’ environment.
The Consequences of Negative Interest Rates
Low rates have distorted markets and generated unintended problems for investors and lenders. Central bankers are increasingly aware of these consequences and are slowly moving to press the pause button. It will take even more courage for them to begin to reverse the unprecedented interventions in bond and other markets.
Does the OPEC Agreement to Limit Oil Production Improve Prospects for Natural Resources Equities?
Yes, though we expect natural resources equities (NREs) to continue to benefit from the rebalancing of supply and demand occurring in oil markets, irrespective of whether the 14-nation cartel follows through on its provisional deal to limit production.
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.
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.