The Cambridge Associates LLC benchmark indexes for US private equity and US venture capital produced modest returns for fourth quarter 2015, leading to lower calendar year performance than either index earned in the two previous years. Both benchmark indexes outperformed the public indexes for the year, but not the quarter.
Our quarterly report summarizes asset allocation and total investment performance for over 400 of Cambridge Associates’ US endowment and foundation clients. This quarter we used attribution analysis to examine the contribution of asset allocation and implementation decisions to total returns for the trailing one- and ten-year periods. Tables and charts in the report show returns…
US REIT valuations are elevated, but the fundamental and technical picture does not support the underweights that many investors likely, though unintentionally, have.
Select hedge funds have provided attractive long-term returns with reduced equity beta and can be integral to pension investment strategies.
Risks to US equities remain firmly skewed to the downside, but as long as the Fed remains on hold and the twin earnings headwinds of weak oil/strong dollar continue to fade, US equities could continue to muddle along near recent levels.
This chart book presents representative marketable and hedge fund manager performance for first quarter 2016.
Our biannual report summarizes asset allocation for 98 of Cambridge Associates’ US-based private clients.
Our quarterly report summarizes asset allocation and total investment performance for over 400 of Cambridge Associates’ US endowment and foundation clients. This quarter we examine the relationship between asset allocation and investment performance for the trailing one- and ten-year periods. Tables and charts in the report show returns and asset allocation by peer type and…
While US private equity and venture capital struggled during third quarter 2015, they both outperformed the S&P 500, the Russell 2000® small-cap, and the Nasdaq Composite indexes. The third quarter return of -1.4% for the Cambridge Associates LLC US Private Equity Index® marked the benchmark’s first negative quarter in three years and the -0.4% return for the Cambridge Associates LLC US Venture Capital Index® represented that benchmark’s first down quarter since 2011.
US municipal bonds remain attractive and we advise maintaining allocations