Investors should embrace diversification in 2026 by Kevin Rosenbaum Many investors have seen the share of their portfolios invested in equities—both public and private—increase over the past decade. This shift was fueled partly by the maturation of private investment asset classes, the growth of passive investing, and low bond yields that accompanied extraordinary fiscal and […]
December 2025
Investors should lean into hedge funds in 2026 by Sean Duffin Hedge funds remain a vital part of diversified portfolios, and building resilience requires a thoughtful mix of strategies. In today’s environment—marked by elevated dispersion, low correlations, and ongoing policy uncertainty—equity long/short (ELS) managers are especially well positioned. Advances in AI and persistent tariff-related disruptions […]
December 2025
Yes, California Carbon Allowances (CCAs) are an attractive investment opportunity, though they come with political tail risk. California’s Cap-and-Trade Program requires companies in regulated industries to purchase CCAs to offset a portion of their carbon emissions. The CCA supply is mandated to decline over time to support higher carbon prices and discourage emissions. After peaking […]
May 2025
Overview Of the 255 CA clients that responded to the 2024 survey, 157 reported engaging in Sustainable and Impact Investing (SII) (54%). A group of 49 institutions have consistently responded to three consecutive surveys in 2020, 2022, and 2024. From this group, we have seen a steady increase in SII integration from 45% in 2020 […]
February 2025
No. In President Trump’s first week back in office, he issued several executive orders related to climate and energy. These initial actions aim to reverse President Biden’s climate policies by withdrawing the United States from the Paris Climate Agreement (for the second time), curtailing growth of the clean energy sector, and boosting US fossil fuel […]
January 2025
We expect California Carbon Allowances (CCAs) to recover from 2024 losses as clarity on supply reductions emerges. Meanwhile, impact private investment flows will favor strategies with faster distributions and commercial validation. Additionally, headwinds for private diverse manager allocations should ease, but the overhang of emerging funds may lead to consolidation or shutdowns, challenging managers. California […]
December 2024
Integrating net zero across our firm is a journey, not an event. The way the investment world understands climate has been steadily evolving, and as the industry has developed its thinking, we have been evolving our processes and capabilities. Nearly 20% of our clients by assets have included net zero objectives in their investment policy, […]
November 2024
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. Long-term capital flows into climate solutions reflect market-driven structural tailwinds. The drivers of […]
September 2024