The US dollar tends to appreciate during two broad economic regimes. One is when the US economy is materially outperforming its global counterparts, attracting capital looking to benefit from the superior US prospects. The other is when growth slows sharply, attracting safe-haven-seeking capital. This is the “dollar smile” model of the currency, and looking at 2022 through this lens suggests some dollar strength may be in store.
The College and University Flash Statistics Report provides a first look at the results of our 2021 College and University Investment Pool Returns survey. Included in the analysis are a summary of investment pool returns and asset allocation for 152 colleges and universities. Additionally, the report provides detailed data by institution on asset allocation and…
No. While inflation could continue to run hotter than central banks expect, the US employment situation is improving, and economic growth is unlikely to stagnate.
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.
The polarizing and often misunderstood cryptoasset landscape has grown exponentially in recent years. This paper reviews some of the space’s pressing issues, considers cryptoassets in a portfolio setting, and offers some considerations of different implementation options.
With a large influx in infrastructure investment seemingly around the corner in the United States, the third quarter 2021 edition of Research Digest features three papers on the economic effects of public infrastructure.
Our quarterly report summarizes asset allocation and total investment performance for 389 of Cambridge Associates’ US endowment and foundation clients.
In this paper, we review the Federal Reserve’s new monetary policy framework, consider how current inflation and employment data match up with its goals, and assess what’s implied by the Fed and market outlook.
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.
Annual distributions from the endowment are a source of supplemental operating revenue for most endowed institutions. An institution’s endowment spending policy provides a basis for the calculation of the annual distribution, serving as a bridge that links the long-term investment portfolio and the enterprise. The data and analysis in this report review the various spending rule types used among our endowed clients. Also included are analysis on the endowment’s support of operations and effective spending rate.