Market Matters: June 2020
Risk assets broadly rallied in second quarter, sharply reversing course after experiencing extraordinary market turmoil in February and March.
Real Assets
Market Matters: May 2020
Risk assets advanced again in May, building on April’s strong price momentum.
Real Asset Dynamics: PE Energy
It has been difficult to find a more out-of-favor sector in institutional investors’ portfolios than energy over the past five years, and with the recent spread of COVID-19 reducing demand for oil & gas, that reality appears set to continue – creating both challenges and opportunities. Amid the sector’s ongoing evolution, the energy PE investment strategy that dominated the market has become outdated, and investors that wish to capitalize on potential opportunities in this market must re-think their approach.
US Manager Universe Statistics: First Quarter 2020
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.
Market Matters: April 2020
Most risk assets surged in April, partially recovering from steep losses during first quarter’s volatile market environment. Global equities bounced back with double-digit gains, driven largely by US shares.
Buckle Up! Oil Markets Are Likely to Remain Chaotic
Negative prices on near-dated WTI futures grabbed headlines yesterday. However, we should not assume from this that oil has negative value.
Market Matters: March 2020
Global risk assets suffered major drawdowns comparable to the global financial crisis in first quarter.
The Complex Relationship Between Inflation and Asset Prices
As we write in March 2020, COVID-19 is spreading across much of the world, undercutting economic activity. While we are unsure of how this situation will unfold, we have long believed that the best way to guard against future uncertainty is to have a well-constructed portfolio. One key component in that is understanding the relationship between asset prices and inflation.
Crude Oil Prices Collapsed—Should Investors Buy Public Energy?
No, we do not believe investors should add a new overweight to public energy at this time. Political machinations and virus-induced uncertainty are weighing on oil prices at present, and it seems unlikely that both of these obstacles will soon be lifted. Instead, investors should closely monitor positioning to ensure their current level of energy exposure is intentional.
Market Matters: February 2020
Global risk assets suffered significant drawdowns in February as concerns over COVID-19’s impact on global economic activity grew.