Are Secondaries Experiencing a Growth Spurt?
Yes. Secondaries, the “yang” to the “yin” of primaries and an investment strategy nearly as old, are growing, particularly GP-led secondaries.
September 2021
Insights
Catch My Drift? Active Managers’ Style Tends to Change Over Time
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.
September 2021
ESG Challenges and Opportunities in Chinese Equities
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.
September 2021
Case Study: Building an investment strategy to better serve multiple generations
The Whitlock family wealth came from the sale of legacy real estate holdings. In the seven years following the initial liquidity event, the wealth was managed by two investment banks. The family’s portfolio was made up of multiple trusts of different sizes, invested mostly in US stocks, ETFs, Treasuries, and municipal bonds. The investments in […]
August 2021
Can Value Stocks Continue to Outperform the Broad Market?
Yes, we believe value stocks can resume their leadership relative to the broad market over the next six to 12 months, provided we are correct in our assessment that the economic impact of COVID-19 Delta variant will be limited in major developed markets and China.
August 2021
Does the ECB Strategy Review Represent an Overhaul of Euro Area Monetary Policy?
The results of the strategy review were more about clarifying and making explicit how European Central Bank (ECB) policy is currently run, rather than signalling a radical departure for monetary policy in the single currency bloc.
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.
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.
August 2021