Many defined benefit plans sponsors may be denying themselves valuable opportunities to generate additional returns by overestimating their liquidity needs. Targeting a liquidity supply/demand ratio of 2x–3x can help portfolios tolerate periods of market stress.
We were founded on the principle of helping investors achieve their performance goals by serving as a hands-on investment partner. We work closely with clients to understand their risk tolerances and deliver robust investment strategies designed to meet their complex needs.
With more than 40 years of experience serving as a trusted investment advisor to institutional investors, families, and family offices, our non-discretionary management service provides clients with an experienced investment team to consider portfolio and investment issues while ensuring that the client maintains final decision making on portfolio investments.
This service model is available for total or partial portfolios and typically works well for clients who have the resources and expertise to contribute to portfolio performance alongside their investment team or for clients who simply prefer to retain decision-making authority over their portfolio’s investments.
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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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.
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.
As the second largest economy in the world, China remains an important destination for global investor capital. Yet, the pace and scope of China’s regulatory crackdown are causing concern. In this edition of VantagePoint, we review the nature of regulatory developments and their impact on the investment opportunity set. We believe that dedicated, strategic allocations to Chinese assets are still warranted. Investors should carefully consider their sector exposure and evaluate managers’ capabilities in the current regulatory and geopolitical environment.
The style bias of actively managed growth and value equity portfolios is not typically static. In this paper, we highlight how the strength of active managers’ style signatures have moved between value and growth and propose a simple fundamental rationale for why this happens.
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.
Investor interest in China has grown over the years as China’s economy expanded and the market opened up to foreign capital. However, environmental, social and governance (ESG) issues remain a key concern for many investors.