Insights

Why Shouldn’t Investors Simplify to a 70/30 Portfolio?

Simple is not so sweet in the current environment. In a world of global uncertainty, investors should place a premium on diversification. The siren song of the simple portfolio may be difficult to resist, but its appeal is based on recent performance that is unlikely to be repeated over the next decade. Prospective long-term returns […]

January 2017

Are Private Equity Returns Doomed?

No. You just need to know where to look. Given the low return environment, many investors are exploring private equity investing for the first time, attracted by data points such as the 10.7% ten-year return for the Cambridge Associates LLC US Private Equity Index®. The increased demand and, therefore, expected increased supply of capital for […]

January 2017

Outlook 2017: A Break in the Clouds

In our 2017 outlook, we review the prospects for several asset classes—developed and emerging markets equities, credit, real assets, sovereign bonds, and currencies—and share the advice of our chief investment strategist.

December 2016

403(b) Plan Fiduciary Oversight

In an increasingly complex landscape, the fiduciary management of robust 403(b) plans has become more challenging than ever.

November 2016

Hedge Fund-ing the Pension Deficit: The Case for UK Schemes

Select hedge funds have provided attractive long-term returns with reduced equity beta and can be integral to pension investment strategies.

October 2016

Don’t Forget the Credit Spread!

While corporate plan sponsors are keenly aware of interest rate risk within their defined benefit plans, few fully appreciate the complex and significant risk posed by credit spreads.

October 2016

The Foundation of Good Governance for Family Impact Investors: Removing Obstacles and Charting a Path to Action

Before incorporating impact investments into their portfolios, we encourage families to define the overall context for their impact investments. Our contextual framework—focused on purpose, priorities, and principles—establishes the base of impact strategy and guides the development of governance structures. These elements will help ensure that family values and decision-making processes are advantages rather than obstacles in pursuing impact investing goals and objectives

September 2016

Keeping Underwater Endowments Afloat (and the Programs They Support)

When endowment funds slip “underwater” (below the historic dollar value of the original gift), institutions face a tradeoff between distributing anticipated budget support and restoring the endowment to its original value. Ultimately, the choice of underwater policy depends on the situation and needs of each institution in balancing endowment preservation with program support.

August 2016