Robust valuation practices are essential in operational due diligence to protect against financial, regulatory, and reputational risks and to mitigate conflicts of interest. As such, it is crucial to assess the strength of a manager’s valuation processes, policies, oversight, and governance, ensuring these are tailored to the fund’s strategy and align with industry best practices.
Given the fluidity of the situation in the Middle East and the uncertainty surrounding how events may unfold, we believe most investors should not make changes to portfolios in response to this event.
New tax provisions in legislation recently passed by the US House of Representatives would impose millions of dollars of new costs on many colleges, universities, and private foundations, if enacted. We recommend four steps nonprofit organizations can consider right now to ensure they are well-prepared and responsive should the proposals become law
This paper explores the influencing factors and special considerations that are key to successful portfolio construction for private investors and wealthy families, and that are fundamental to the work that we undertake for our clients.
Overall, we think investors should hold EM allocations in line with policy targets. But periods of volatility and equity market dislocations often present opportunities for investors to add value through tactical portfolio tilts.
No, we don’t think so. For most investors, this is more likely a time to take profits on gold rather than initiate new allocations.
After a prolonged period of US outperformance, many investment portfolios have become heavily concentrated in US equities, but recent policy shifts now challenge US economic and financial hegemony. Investors should carefully evaluate these exposures to determine if greater diversification is warranted.
No. We believe it is too early to add exposure to US high-yield bonds and broadly syndicated loans, as spreads for most assets are merely back to around their historical medians and could move higher from here if economic growth deteriorates.
In today’s dynamic environment, strategic thinking and flexibility are essential. This edition of VantagePoint revisits the core principles of best-in-class investment strategies, exploring how investors can allow wealth to compound by remaining disciplined, diversified, and focused on long-term opportunities while adapting to change.
No, we do not think the Federal Reserve will cut rates in the near term to rescue financial markets. However, if tariffs begin to significantly impact the real economy, the Fed will eventually act.