RMB Risks
While a currency crisis in China can be avoided, much depends on investor psychology and how China manages the capital account.
Research Publications Archive
CA Perspectives: Fall/Winter 2015
In this issue we discuss why hedge funds continue to be an important component of diversified portfolios and what it takes to find the top-performing funds; analyze conventional wisdom on hedge fund success factors to examine which rules of thumb hold water and which have some leaks; provide insights on tax-efficient hedge funds for private client investing, highlight David Druley’s new role as President and Head of Global Investments, and profile Main Line Health.
Energy MLPs: Opportunities in the Pipeline?
MLPs have had a volatile few months and yields have skyrocketed; investors with a long-term time horizon should find the sector appealing.
Australia Outlook 2016: Déjà Vu All Over Again …
Investors should be prepared for 2016 to look similar to 2015, with high volatility and poor returns for risk assets.
Is It Time to Rebalance?
Begin to rebalance into undervalued assets provided you have adequate liquidity to take advantage of additional opportunities that may develop.
Review of Market Performance: Calendar Year 2015
Investors navigating the marketplace in 2015 faced numerous challenges, including US$ strength, commodity market stresses, and global growth concerns. To a large extent, asset class returns were either unexceptional or downright difficult. This brief chart book reviews returns and other metrics for the calendar year.
What Does US FIRPTA Reform Mean for Global Investors?
While it is too soon to know the full impact of reform, recent legislative changes are likely to increase global investors’ interest in US REITs and real property, with potential implications for valuations, fund flows, and transactions in 2016 and beyond.
Japanese Equities: It’s Not Too Late to Capitalize on the Recovery
Heading into 2016, we remain constructive on Japanese equities versus US equivalents and are broadening our recommendation to include Japanese small- and mid-cap stocks.
What Should Investors Expect From Developed Markets Equities in 2016?
2015 looks likely to go down as a year to forget for many investors, and 2016 may bring only slight improvement.
“Mind the Gap” in US Venture Capital Valuations
Venture capital offers compelling returns for the stalwart long-term investor. The most relevant question for investors in any stage of venture is the potential impact of prevailing market conditions on ultimate returns. In this brief, we look at valuation data today and also use our proprietary data set of funds to review historical returns during periods when valuations reset.