Sentiment toward the global banking sector was extremely poor to start the year, owing to a variety of factors, but reversed sharply in recent weeks as the latest news and data seemed to alleviate investors’ worst fears.
This report reviews portfolio returns, asset allocation, investment manager structures, and net flow data for 28 independent schools. Analysis and exhibits include performance attribution, risk analytics, policy portfolio benchmarking, the impact of private investment programs on portfolio liquidity, the use of external managers by asset class, and net flow rates.
In over 25 different analyses and 100 charts, our annual analysis of the history of global markets provides context for the range of returns investors can expect from equities, bonds, and cash; reveals the importance of various components of equity returns; examines the evidence for equity mean reversion; and reviews the relationship between initial valuations and subsequent returns for equities and bonds. This year’s edition is accompanied by an appendix showing year-by-year, cumulative, and average annual compound returns for as much as 115 years of market data for Australia, Japan, the UK, and the US.
This edition includes a look back at key regulatory changes and proposals in 2015 and a look ahead at 2016 for mutual funds, hedge funds, and private investments.
The US dollar may remain under pressure in the near term, but we doubt the strong-dollar cycle is over.
Risks to the global economy are rising, but the New Zealand economy is relatively well placed compared to others, with many of the risks external in nature.
US municipal bonds remain attractive and we advise maintaining allocations
Event-driven strategies have struggled since mid-2014, but the headwinds recently plaguing them could become less forceful in the months ahead.
This primer provides an in-depth overview of buyouts, including types and characteristics, the investment process, returns, risks, and the due diligence process.
This report reviews portfolio returns, asset allocation, investment manager structures, and net flow data for 162 colleges and universities. Analysis and exhibits include performance attribution, risk analytics, policy portfolio benchmarking, the impact of private investment programs on portfolio liquidity, the use of external managers by asset class, and net flow rates.