Digging In: Assessing the Private Infrastructure Opportunity Today
New private infrastructure fund investors can find value in carefully evaluated managers and strategies, but they should ratchet down return expectations relative to years past.
Real Assets
Is Now the Time to Invest in Real Assets?
In a word, yes, albeit slowly and selectively.
US Manager Universe Statistics: Fourth Quarter 2016
This chart book presents representative long-only and hedge fund manager performance for fourth quarter 2016. The median US Small-Cap Value manager posted the highest median return for fourth quarter 2016 (10.7%) and the year (24.2%). The median Global ex US Bonds manager posted the lowest median return for fourth quarter 2016 (-6.9%), while the Global Growth Equity ex US median return was lowest for the year (-1.1%).
Investment Publications Highlights: December 2016
December’s publication summarizes three articles on inflation. The first highlights three common misconceptions about commodity futures, including that commodity spot prices provide an inflation hedge; the second reviews the inflation-protection properties of cash, bonds, equities, and real estate; and the third argues that the reflationary pressures that were building prior to the US election are likely to continue.
Real Asset Dynamics: December 2016
In this edition of Real Asset Dynamics, we analyze the returns of Cambridge Associates’ indexes of private real estate funds over various time horizons and offer our views on what investors can expect in private real estate going forward. Global private equity real estate continues to generate decent returns, earning 1.5% in second quarter 2016…
Outlook 2017: A Break in the Clouds
Change is in the air and the prospect for a bit of sunshine to break through the overhang of slow growth and lower-for-longer yields is palpable. Of course, the sun doesn’t shine forever, and overall our views are little changed. The things we have been worried about for some time—high valuations for certain risk assets, record-low interest rates, slow economic growth—have not gone away. The surest call to make for 2017 is that higher growth expectations will be paired with the distinct possibility of negative outcomes, putting a premium on diversification and liquidity management.
US Manager Universe Statistics: Third Quarter 2016
This chart book presents representative long-only and hedge fund manager performance for third quarter 2016.
UK Property: Finding Opportunity Amid Heightened Political Risk
We remain cautious on UK property, but bold investors may find opportunities in the post-‘Brexit’ environment.
Does the OPEC Agreement to Limit Oil Production Improve Prospects for Natural Resources Equities?
Yes, though we expect natural resources equities (NREs) to continue to benefit from the rebalancing of supply and demand occurring in oil markets, irrespective of whether the 14-nation cartel follows through on its provisional deal to limit production.
US Manager Universe Statistics: Second Quarter 2016
This chart book presents representative marketable and hedge fund manager performance for second quarter 2016.