Insights
Constructing a Liability Hedging Portfolio: A Guide to Best Practices for US Pension Plans
The construction and calibration of a liability hedging portfolio is integral to effective pension portfolio risk management, and this report delineates key considerations and best practices for the liability hedge allocation.
May 2014
A Framework for Benchmarking Private Investments
Private investments often play an important role in an investor’s portfolio, yet the inconsistent methodologies typically used to evaluate private investment performance and public market performance result in a lack of understanding about true relative performance. This report provides our views on best practices for measuring private investment performance and introduces a framework for benchmarking private investments.
March 2014
Concentrated Stock Portfolios
Families can use several strategies to mitigate the risks of single-stock exposures, thereby supporting both wealth-preservation and philanthropic goals.
September 2013
Why Did I Diversify?
While simple 100% U.S. equity and stock/bond portfolios have outperformed recently, highly diversified portfolios have superior returns over decades.
August 2013
Growth Equity is All Grown Up
Growth equity has matured and evolved into a distinct asset class with different characteristics from both venture capital and private equity, and may represent an attractive alternative for certain investors. For those old enough to remember the commercials, U.S. growth equity could perhaps be called the Reese’s Peanut Butter Cup of the private investment world. […]
June 2013
Growth Equity Is All Grown Up
Growth equity has matured and evolved into a distinct asset class and may represent an attractive alternative for certain investors.
June 2013
Pension De-Risking in a Low-Rate Environment—A Better Solution
Defined benefit pension plans face ample challenges in the current environment of extremely low interest rates. Most agree that low yields have caused liability-hedging assets (longer-duration fixed income) to become overvalued when evaluated in isolation.
April 2013