Last Week at a Glance
Global equities declined last week as concerns over AI investment returns and greater regulatory scrutiny weighed on technology shares.
Credit/Fixed Income
Last Month at a Glance
Renewed concerns about AI spending and rising oil prices weighed on global equities.
Is the Euro Area Heading for Another Sovereign Debt Crisis?
No. France’s fiscal and political problems do not appear to signal another euro area sovereign debt crisis.
Last Quarter at a Glance
Q3 ended on a weak note as rising bond yields weighed on asset class returns in September.
Should Investors Act on the US Midterm Elections?
No. The November US midterm elections could affect regulatory, fiscal, foreign, and AI policy, but uncertain outcomes and market implications make election-driven trades a poor basis for investment decisions. In our view, investors are better served by maintaining resilient, diversified portfolios than by positioning for an anticipated election outcome.
2025 Hedge Fund Discretionary Expense Summary
This report provides a comparative overview of management fees and discretionary expenses across four hedge fund strategies in Cambridge Associates’ manager universe—long/short equity, credit opportunities, multi-strategy, and global macro—for the years 2022 through 2025.
Is a Sovereign Bond Market Riot Brewing?
No. Sovereign bond yields across developed markets are likely to stay higher for longer given the macro, monetary, and fiscal backdrop, but a sustained, disorderly rise in yields looks unlikely.
US Manager Universe Statistics: Second Quarter 2026
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.
Review of Market Performance: Fiscal Year 2026
The commodity supply shock mildly slowed global growth, though the effects varied by region. Even so, global equities posted another strong fiscal year across a broad set of markets. The US dollar appreciated modestly, with the United States remaining relatively insulated from developments in the Middle East. Bond returns lagged as inflation pressures resurfaced, while real assets performed strongly as the supply shock intensified and demand tied to AI buildout continued to strengthen.
2025 Private Investment Operational DDQ Analysis
This report presents an analysis of manager responses submitted via Cambridge Associates’ operational due diligence questionnaire.