Value in the Oil Patch, for Investors With a Strong Stomach
Fundamentals and share prices have come under pressure for natural resources equities this year, but we continue to believe they offer strong long-term return prospects.
Research Publications Archive
Activist Funds: The New, New Thing . . . Or Here We Go Again?
Given a choice today between competing investment strategies, activists would not be near the top of our list, as the fawning attention over successful activists has narrowed the available opportunity set by boosting the available pool of money and drawing in new managers.
Has This Summer’s Sell-Off in Energy-Related MLPs Changed Their Appeal to Investors?
For value-biased investors, energy master limited partnerships (MLPs) are (somewhat suddenly) more appealing than they have been in several years.
Spending Policy Practices: 2015
The data and analysis in this report cover a variety of spending topics including spending rule types, the endowment’s support of operations, and effective spending rates. This year’s report also introduces the Cambridge Associates Endowment Spending Model.
Are Low Volatility Products Attractive Today?
While by some metrics low volatility stocks appear richly valued today, low volatility strategies are still relevant to many investors and can play an important role in portfolio construction.
The Forgotten 70%: Strategies for Pension Plans Accruing Benefits
Plans with active participants need a holistic, flexible risk budgeting approach—not a simple glide path
Fundraising and Endowment Oversight for Public Universities
The strains on public universities require a new approach to resources, and an increasingly expertly managed endowment fund and fundraising operation are essential to that evolution
What Should Investors Make of Recent Headlines from China and Greece?
The situations in China and Greece, not to mention Puerto Rico’s debt woes, serve as a poignant reminder not to be complacent. Investors should take care that portfolios are well constructed, diversified, and consistent with their ability to absorb downside risks while meeting long-term return objectives. With risks rising in some areas, and few bargains…
Review of Market Performance: Fiscal Year 2015
Both the strengthening US dollar and decline in oil prices impacted markets in fiscal year 2015. The year also witnessed a number of reversals, namely strong performance in the second half of the year relative to the first. This brief chart book looks at returns and other market metrics for fiscal year 2015.
Will Further Market Volatility Ensue If Greece Does Not Return to the Bargaining Table?
The situation with Greece has become increasingly unpredictable and could trigger further market volatility in the weeks ahead. However, even under an adverse scenario such as a Greek exit from the Eurozone, other European assets are likely to eventually resume their decoupling from Greek assets, given firewalls in place and a more favorable economic backdrop….