Japanese Equities: Is Abenomics Becoming a Liability?
We retain our overweight to Japanese stocks, but are watching closely to ensure economic or political events do not undermine the promising case for company fundamentals.
Research Publications Archive
Will Value Stocks Continue to Outperform?
Prospects are tenuous for sustained outperformance of value stocks on the whole. We recommend owning value stocks, but would not broadly overweight just yet.
A Holistic Approach to Liquidity Management
In this paper we share trends in liquidity creation at institutions and look at what’s behind them. We outline three building blocks to optimize liquidity management across an enterprise, providing several approaches to assessing liquidity needs holistically. We offer specific examples from US colleges and universities given the availability and breadth of data, though we believe that the lessons learned are broadly applicable. Finally, we discuss approaches to cash management in the current environment.
Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 29 of Cambridge Associates’ UK foundation and endowment clients.
Pondering the Consequences of “Brexit”
As the cacophony surrounding the 23 June “Brexit” referendum grows, just how much the United Kingdom stands to lose or gain from leaving remains unclear, and investors with substantial exposures to British assets would do well to pay attention to sentiment.
From Dollar Dominance to Divergence
Since December 2015, currency markets have become increasingly divergent, with the US dollar simultaneously weakening and strengthening against different currencies. To provide investors with a better understanding of how their base currency is performing, this chart book presents analysis of historical currency momentum, valuation, and fundamentals in five key base currencies: US dollar (USD), British pound (GBP), euro (EUR), Swiss franc (CHF), and Japanese yen (JPY).
What’s Driving the Recent Rebound in Oil Prices?
Oil prices have benefited from a number of developments in recent weeks, including fresh data indicating declining production and healthy consumption, weakness in the US dollar, and news of supply-cap discussions between select OPEC members and Russia.
Comparative Asset Allocation: Private Clients
Our biannual report summarizes asset allocation for 98 of Cambridge Associates’ US-based private clients.
Feeling Negative About Sub-Zero Interest Rates
As more countries move from zero interest rate policy (ZIRP) to negative interest rate policy (NIRP) to try to boost growth and conquer deflation, the risks of unintended consequences are rising and investors should tread carefully.
Commodity Futures: Still Plenty of Risks
The strong headwinds facing the commodity sector limit our conviction that current prices will translate into reasonable total returns.