Are Your Reserves Long-Term Capital?
Sizing near-term reserve funds should be guided by analysis of cash flows, endowment reliance, available liquidity, and capital needs. Any reserve funds not needed in the near term can be considered longer-term capital. When investing reserves as long-term capital, institutions should consider the policies needed to support responsible reserve fund management, how compatible the funds invested together are, and whether such investments will jeopardize the long-term investment pool.
Climate change and social inequality are two material and systemic risks facing the global economy and investment portfolios over the coming decades. In this paper, we demonstrate the relationship between climate change and social justice, highlight how investors can implement an intersectional approach to climate justice in their portfolios, and outline three steps investors should consider to help ensure our transition to a low-carbon economy is inclusive and just.
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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.
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