Comparative Asset Allocation: Private Clients
Our biannual report summarizes asset allocation for 98 of Cambridge Associates’ US-based private clients.
US
Endowments Quarterly: Fourth Quarter 2015
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…
US PE/VC Benchmark Commentary: Third Quarter 2015
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.
Municipal Bonds: Keep Calm and Hang On
US municipal bonds remain attractive and we advise maintaining allocations
US Manager Universe Statistics: Fourth Quarter and Calendar Year 2015
This chart book presents representative marketable and hedge fund manager performance for fourth quarter 2015. The median US REIT manager again posted the highest median quarterly return, 7.7% for fourth quarter 2015. The lowest median returns for the quarter (-1.4%) were posted by the median High-Yield Bonds manager and the median Credit Opportunities manager.
“Mind the Gap” in US Venture Capital Valuations
Venture capital offers compelling returns for the stalwart long-term investor. The most relevant question for investors in any stage of venture is the potential impact of prevailing market conditions on ultimate returns. In this brief, we look at valuation data today and also use our proprietary data set of funds to review historical returns during periods when valuations reset.
US PE/VC Benchmark Commentary: Second Quarter 2015
US private equity and venture capital funds produced healthy results during second quarter 2015, outpacing the S&P 500, the Russell 2000® small-cap, and the Nasdaq Composite indexes. Second quarter’s 3.8% return for the Cambridge Associates LLC US Private Equity Index® marked the benchmark’s 12th straight positive quarter, while the 6.7% return for the Cambridge Associates LLC US Venture Capital Index® represented that benchmark’s 15th consecutive positive quarter.
A Closer Look at the US Equity Bull Market
Ongoing growth headwinds, an earnings recession, and still-elevated valuations make us skeptics that US equities’ four-year bull market can continue much longer.
US Manager Universe Statistics: Third Quarter 2015
This chart book presents representative marketable and hedge fund manager performance for third quarter 2015.
Comparative Asset Allocation: Private Clients
Our biannual report summarizes asset allocation for 89 of Cambridge Associates’ US-based private clients.