Yes, investors should consider making tactical changes because of valuation differentials exacerbated by the COVID-19 pandemic, but they should size them appropriately given elevated uncertainty.
Economic, market, and healthcare circumstances have been extraordinary over the last six months. However, attractive opportunities exist. We see appeal in tech and tech-enabled businesses but remain cautious on elevated pricing. There’s enough value in relatively cheap segments of public equities to justify taking measured, diversified overweights. We are broadly cautious on credit, but see pockets of opportunity in some segments less supported by central bank activity. Finally, the importance of investing in social equity and diversity has been brought into sharp relief by this crisis.
Global equities surged higher in August.
With few exceptions heading into the COVID-19 crisis, the developed and emerging markets PE and VC indexes have handily outperformed their public market counterparts across time.
Yes, investors who have made tactical bets in gold should consider scaling back their positions and locking in some gains.
Global risk assets advanced in July, extending the prolonged market rally that began in late March.
On Tuesday, EU leaders reached agreement on a €750B COVID-19 recovery fund, composed of grants and loans, and settled on a €1.074T budget for the next seven-year period.
No, we’re optimistic about this diverse collection of companies, and we think investors without dedicated allocations should establish toe-hold positions in developed markets (DM) small-cap equities funded from DM mid- to large-cap peers.
For calendar year 2019, US private equity and venture capital produced high double-digit returns, as indicated by the Cambridge Associates LLC benchmark indexes.
Risk assets broadly rallied in second quarter, sharply reversing course after experiencing extraordinary market turmoil in February and March.