Pensions face critical investment and management challenges as COVID-19 impacts capital markets. For single-employer plans, we have found that liquidity, rebalancing, implementation and communication are key issues to keep in mind.
All our latest insights on COVID-19's impact on the investment landscape, updated as things change.
May 14, 2020—In light of the COVID-19 pandemic, many foundations are taking care to balance immediate needs with long-term philanthropic capacity. In a national survey, we learned that a number of foundations have adjusted their plans to expand their grant-making.
April 30, 2020—In this video series, hear our practitioners' thoughts on deal and sector trends, investing in prior recessionary environments, near-term expectations, emerging opportunities and more.
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March 16, 2020—Amid a turbulent global and market environment, we remain committed to our clients and colleagues.
The US economy lost a staggering 20.5 million jobs in April, in the worst plunge in payrolls since the Great Depression, according to data released by the US Bureau of Labor Statistics on May 8.
The “secret sauce” to long-term investment success is, in most cases, the governance that guides and oversees the investment program. In this series, we discuss the roles and responsibilities of governance; highlight the steps to build a diverse and collaborative committee, and outline the culture of a well-functioning committee.
Nominal high-quality sovereign bond yields throughout developed markets have plummeted toward zero, increasing the likelihood that most developed markets may soon need to contend with negative yields, and leading investors to question whether high-quality sovereign bonds are still the best form of insurance. In light of these developments, we examine the historical safe-haven characteristics of high-quality sovereign bonds and assesses whether they remain a viable safe-haven asset.
The impact of COVID-19 on our economy has raised questions for investors about the current state of the private investment landscape. Listen in to our webinar as Dan Aylott, Managing Director in the European Pensions Practice at Cambridge Associates, moderates a discussion with colleagues, Andrea Auerbach, Global Head of Private Investments and Iñigo Garcia Gordobil, Co-Head […]
As the COVID-19 outbreak has escalated in the United States, sponsors of single employer–defined benefit pension plans have experienced a roller coaster ride. Avoiding, or at least cushioning, another wild ride requires a well-designed hedging strategy that accounts for credit spreads. We provide context for this rapidly evolving spread environment and potential responses.
In periods of market stress, it can be difficult to rebalance, much less overweight risky assets like equities. In this paper, we review our approach using multiple lenses: magnitude and duration of drawdowns relative to history, cheapness of valuations, and presence of pre-conditions for markets to begin their ascent. Such an approach can help investors tune out the emotion and dial in on the hard data and most probable outcomes even in the face of great uncertainty. While opportunities are developing across many markets, investors should hold off on broad overweights to risky assets at this time.
