Private Property Trends: Analysis of Operating Metrics for US Real Estate Properties
Insights into key metrics for private US real estate managers and how they have evolved over time.
US
Are You Expecting Another “Tech Wreck” Like 20 Years Ago?
No, we doubt the equity market’s heightened tech concentration will trigger an imminent correction. Rather, tech stocks’ outsized weighting reflects their superior growth and free cash flow this cycle. Amid a lackluster macroeconomic backdrop, historically low discount rates have boosted the appeal of the most profitable and liquid segment of the global equity universe, namely…
College and University Investment Pool Returns: Fiscal Year 2019
This study is based on a survey that Cambridge Associates (CA) administers annually to our college and university clients. The report that follows summarizes returns, asset allocation, and other investment-related data for 164 institutions for the fiscal year ended June 30, 2019. Included in this year’s report are commentary and exhibits spread across six separate sections.
US Manager Universe Statistics: Fourth Quarter 2019
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.
Will the “Phase One” Trade Deal Bring More Stable Relations Between the United States and China?
Yes, in the near term, but longer term we expect trade, tech, and possibly finances to decouple further.
VantagePoint: Disruption, Demographics, and Decoupling
The start of a new year and a new decade is an opportune time to reflect on megatrends that will be consequential over the next ten years. In this edition of VantagePoint, we focus on three such trends and their investment implications: disruption, demographics, and decoupling.
Endowments Quarterly: Third Quarter 2019
Our quarterly report summarizes asset allocation and total investment performance for 373 of Cambridge Associates’ US endowment and foundation clients. In addition, the report contains tables and charts that show returns and asset allocation by peer type and asset size.
Under the Microscope: Private vs Public Company Operating Metrics for US Companies
This analysis includes our observations and more than 30 charts on key metrics including purchase price multiples, leverage multiples, revenue growth, earnings (EBITDA) growth, and earnings (EBITDA) margins.
What Risks and Opportunities Are You Focused on as We Enter 2020?
We see opportunities to deploy capital in some niche areas of the investment landscape and reshape (or at least re-evaluate) some areas of the portfolio.
College and University Flash Statistics Report: Fiscal Year 2019
The College and University Flash Statistics Report provides a first look at the results of our 2019 College and University Investment Pool Returns survey. Included in the analysis are a summary of investment pool returns and asset allocation for 164 colleges and universities. Additionally, the report provides detailed data by institution on asset allocation and target asset allocation. Look for our full annual analysis in the upcoming College and University Investment Pool Returns report to be published later this winter.