US

January 22, 2025

VantagePoint: Avoiding Five Key Investment Pitfalls

Credit/Fixed Income, Equities, Investment Planning, US | VantagePoint Series | Download

The start of the year is an ideal time to review investment practices and procedures to ensure you are set up for success. In this edition of VantagePoint, we outline the following five key investment pitfalls that can steer investors off course and offer guidance on how to avoid them: 1) Taking too little risk; 2) Firing excellent managers after a bout of underperformance; 3) Sizing individual positions too large; 4) Misunderstanding liquidity risk; and 5) Failing to exercise strong governance.

January 21, 2025

Will President Trump’s Proposed Policy Initiatives Drive More US Large-Cap Equity Outperformance?

Equities, US

No, we don’t think so. While President Donald Trump made numerous campaign pledges that could be seen as beneficial, US large-cap stocks will need more than policy shifts to outperform US small-cap stocks in 2025.

January 17, 2025

US PE/VC Benchmark Commentary: First Half 2024

Private Equity/Venture Capital, US | PE/VC Benchmark Commentary Series | Download

In the first half of 2024, returns from US private equity and venture capital were modest. Both private asset classes have struggled to keep up with the public indexes over the past three years, but have performed well vis-à-vis public peers over longer time periods.

November 27, 2024

US Manager Universe Statistics: Third Quarter 2024

Credit/Fixed Income, Currency, Equities, Hedge Funds, Real Assets, US | US Manager Universe Statistics Series | Download

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.

November 21, 2024

VantagePoint: Deconstructing US Debt Dynamics

Credit/Fixed Income, Equities, Real Assets, US | VantagePoint Series | Download

Despite alarming headlines about rising US debt, investors should resist making drastic portfolio changes. While an immediate crisis appears unlikely, the risk could increase if the United States fails to manage its debt effectively. Therefore, reviewing potential portfolio adjustments at the margin that might enhance future returns is prudent.

November 8, 2024

Private Infrastructure: Secular Themes Offer Compelling Opportunities

Asia/Pacific, Credit/Fixed Income, Emerging/Frontier, Europe, Real Assets, US | Download

This note provides an update on the current opportunity set in infrastructure investments and highlights some of our preferred areas in the private space, including energy transition and digital infrastructure.

November 6, 2024

Should Investors Alter Portfolios After US President Trump’s Re-election?

Credit/Fixed Income, Equities, Investment Planning, US

No, not at this time. While the Trump administration’s policies will impact markets, we expect other factors will be larger drivers of long-term investment performance.

September 18, 2024

The Fed Cuts Aggressively, but Remains Cautious About Future Cuts

Credit/Fixed Income, Currency, Equities, US

The Federal Reserve has reduced the target range for the federal funds rate by 50 basis points (bps) to 4.75%–5.00%, the first reduction in over four years.

September 17, 2024

Would US Private Capital Flows into Climate Solutions Remain Strong in a Second Trump Administration?

Private Equity/Venture Capital, Sustainable & Impact Investing, US

Yes, we believe that private investment in climate solutions would continue apace in a second Trump administration, given strong demand for clean energy, supportive and resilient US government policies, and robust investment opportunities that will continue to be attractive to many investors.

September 11, 2024

US Election Anxiety: Keeping Calm Amid Political Uncertainty

Credit/Fixed Income, Currency, Equities, Sustainable & Impact Investing, US | Download

Markets have been jittery as the US presidential election approaches. The macro backdrop is shifting, with slowing economic growth and ebbing inflation meaning a cycle of monetary easing beckons. At the same time, elevated valuations for a variety of assets are causing investors to reconsider narratives around themes, such as AI investment, and consider asset allocation tweaks. Investors should resist positioning portfolios for any one political outcome and remember that increased market volatility around elections is common. In the following report, we discuss our views on five common election-related narratives in the marketplace today.

US