Will Artificial Intelligence Continue to Propel the Market Forward?
Yes, we believe it will. Excitement around artificial intelligence and its related technological advancements has been a key market driver since early 2023.
Equities
Market Matters: May 31, 2024
Most asset classes rallied in May.
Will the Yen Continue to Support Japanese Equities?
No. The Japanese yen has been on a weakening trend for several years.
US Manager Universe Statistics: First Quarter 2024
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
VantagePoint: Building Resilient Public Equity Portfolios
Building outperforming portfolios in long-only equities is hard work but worth the effort. Engaging in deep research to identify firms with a repeatable competitive edge and strong organization that can stand the test of time is far more relevant than analyzing short-term performance. Selecting the right managers is only the first step. Constructing portfolios requires careful consideration of manager and market dynamics to adjust for shifting factor exposures and avoid unintended bets for which investors are unlikely to be compensated.
Are US Small Caps Poised to Outperform?
Yes. We believe higher-quality US small-cap companies trade at a significant discount to large-cap peers, and their balance sheets have held up better than headlines suggest.
Market Matters: April 30, 2024
Global equities and bonds declined in tandem in April, driven by diminished prospects for Federal Reserve rate cuts.
Have Public Market Returns Permanently Eclipsed Private Market Returns?
No, while the public market’s outperformance may seem like a total eclipse, this one, like all eclipses, will be temporary.
Role Models: Pensions Can Use Data to Optimize PI Allocations
Many pensions avoid private investments out of fear that long-term capital lockups could elevate liquidity risk. This paper aims to help pension executives better understand how data can enable their effective use of private investments and discusses how new investment policy approaches may help to take advantage of market opportunities.
Has the Euro Area’s Economy Bottomed?
Yes, we believe that the euro area’s economy bottomed either in fourth quarter 2023 or first quarter 2024.