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Private Client Series August 2021
Building Winning Portfolios Through Private Investments

Building a portfolio that incorporates both private equity and venture capital investments is not straightforward. It requires skill and discipline. In this paper, we review recent private investment performance, discuss how these investments have benefited institutional portfolios, and provide some high-level tips on how to build winning portfolios.
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Pension Series August 2021
Don’t Discount Fixed Income Investing for US Pension Plans

While alpha is commonly recognized as a key lever in maintaining or improving funded status, it is often mistakenly limited to purely equity or lower-liquidity investment opportunities. For plan sponsors, this can be a costly misconception. Cambridge Associates’ research shows that active fixed income management can contribute valuable alpha, resulting in significant benefits to plan outcomes.
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VantagePoint July 2021
VantagePoint: Can Value Outperformance Endure?

In this edition of VantagePoint, we explore the historical drivers of the value risk premium to determine if there have been any fundamental changes since 2007, the start of the global financial crisis, and to understand conditions that must be present for a sustained period of value outperformance.
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Pension Series July 2021
Defining the OCIO Benefit: What Value Can It Provide to Plan Sponsors?

Although OCIO has become a buzzword across the broad investment community, many defined benefit plan sponsors have questions about how an OCIO affects a pension plan sponsor’s role as fiduciary and which elements are key to a successful OCIO relationship. Here, we answer 7 common plan sponsor questions on outsourcing.
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Research Note July 2021
Investing for a Net-Zero World: A Guide for Investors

Investors are increasingly pursuing climate change–related agendas for both better investment outcomes and alignment with their stakeholders’ beliefs. This paper provides a high-level overview of the net-zero investing topic and considers practical implementation options for investors.
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Research Report May 2021
Implementing Sustainable and Impact Investing in Investment Portfolios

Implementing sustainable and impact investing (SII) themes in investment portfolios can seem complex, leaving many investors new to SII wondering how to begin. This paper provides insight into building resilient portfolios that will contribute to and thrive in a more sustainable and equitable future.
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Research Note May 2021
Portfolio Protection: Challenges with Equity Put Options

We advise extreme caution in using derivatives to protect portfolios from sharp equity drawdowns. We recommend that investors look to asset allocation to defend against equity risk before buying puts. For those investors who must pursue a tail-risk hedge, we provide a list of potential pitfalls and solutions, in the form of a case study.
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Pension Series May 2021
The American Rescue Plan Act Brings Relief and Highlights Challenges for US Pension Plan Sponsors

The American Rescue Plan Act (ARPA) was signed into law on March 11, 2021, and included a variety of plan sponsor–friendly changes to single-employer and multiemployer pension plans, but no real help for public sector plans. ARPA may change the future landscape of US pension plans, which may prompt plan sponsors to modify their investment strategies to achieve plan objectives. Its impact will vary greatly, both by plan type and individual plan circumstances.
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Research Note May 2021
Rising Rates and the Implications for Fixed Income

In this paper, we analyze the drivers behind the recent rise in yields and compare the current bond sell-off to major bond sell-offs of the past to assess whether the rise in yields can continue and the implications for fixed income.
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