Robust valuation practices are essential in operational due diligence to protect against financial, regulatory, and reputational risks and to mitigate conflicts of interest. As such, it is crucial to assess the strength of a manager’s valuation processes, policies, oversight, and governance, ensuring these are tailored to the fund’s strategy and align with industry best practices.
Given the fluidity of the situation in the Middle East and the uncertainty surrounding how events may unfold, we believe most investors should not make changes to portfolios in response to this event.
New tax provisions in legislation recently passed by the US House of Representatives would impose millions of dollars of new costs on many colleges, universities, and private foundations, if enacted. We recommend four steps nonprofit organizations can consider right now to ensure they are well-prepared and responsive should the proposals become law
This paper explores the influencing factors and special considerations that are key to successful portfolio construction for private investors and wealthy families, and that are fundamental to the work that we undertake for our clients.
This report reviews the various spending rule types used among our endowment clients, and also includes analyses on the endowment’s support of operations and effective spending rate.
No. US Treasury securities are likely to remain among the most effective diversifiers during periods of equity market stress.
Yes, California Carbon Allowances are an attractive investment opportunity, though they come with political tail risk.
Overall, we think investors should hold EM allocations in line with policy targets. But periods of volatility and equity market dislocations often present opportunities for investors to add value through tactical portfolio tilts.
Asian and global market volatility surged in early 2025 as US tariffs triggered global growth fears. Given the export-oriented nature of most Asian economies and their sensitivity to global growth and demand, the region may bear the brunt of US tariffs. As such, Asia market volatility is likely to persist in the near term, particularly since US trade policy can shift abruptly.
No, we don’t think so. For most investors, this is more likely a time to take profits on gold rather than initiate new allocations.