Research

Filter by

Client Type

Investment Topics

Region

Showing Results 81 - 90 of 110
Research Report September 2015
Constructing Superior Equity Portfolios

A common perception among investors that employ active equity management is that the “donut” structure is more aggressive, more expensive, and riskier than the “core-satellite” structure because of the donut structure’s heavier reliance on concentrated, high tracking error, high fee managers. The research we present in this report, which examines a 17-year period, calls into question these perceptions. Our analysis suggests that, at a minimum, investors should reassess whether a core-satellite structure is as likely to help them earn their payout as a donut structure.
Read More »

Research Brief July 2015
Revisiting Active US Equity Management: A Cyclical Story

We are not unconditional advocates for or against active management; investors have different circumstances. However, while there are many logical rationales for favoring index over active investing, the recent performance struggle of the average active manager is not among them.
Read More »

July 2015
Trimming the Fat While Sniffing for Truffles

Late-stage investing is challenging. As central banks around the globe have generally been in easing mode, valuations for bonds and risk assets have appreciated, leaving very little value and some pockets of froth. Ultra-low yields have pushed investors into increasingly risky assets—from high yield bonds to venture capital—in search of attractive returns. In this webinar,…
Read More »

Research Report June 2015
Introducing the Impact Investing Benchmark

While private impact investing has experienced significant growth and maturation, the field is in need of robust analysis on financial performance to help inform investor expectations. This report introduces the first Impact Investing Benchmark, which begins to address this important facet of the conversation.
Read More »

Research Report March 2015
Making Waves: The Cresting Co-Investment Opportunity

Private investing without a fee drag! Directly invest in the best companies alongside the best general partners! The headlines resound, while GP offerings and investor interest in co-investments swell. Our analysis shows that co-investment returns have the potential to outpace private fund investment returns. However, not every individual co-investment outperforms, and therein lies the rub. This report frames the opportunities and common pitfalls of co-investing, leveraging our aggregated data on co-investments and funds generating co-investment.
Read More »

Research Note February 2015
Have You Considered Your Portfolio’s Enterprise Risk?

The portfolio’s enterprise risk is the potential effect of portfolio volatility on the bottom line of your organization. For a given institution, the risk may be lower than Trustees think it is—or it may be higher. How does one measure this risk? How should it be dealt with when constructing a long-term investment portfolio? What can be done to avoid poor returns caused by inadequate enterprise analysis? We suggest the use of the portfolio/enterprise risk tool.
Read More »

January 2015
Market Focus

Hear our perspective on current market trends. Celia Dallas, our Chief Investment Strategist, and Wade O’Brien, a Managing Director on our Global Investment Research team, discuss some issues top of mind for us this year. We cover the ascendance of the US dollar, overvaluation of US treasuries, drawdown on oil, and volatility of credit markets…
Read More »

Research Note November 2014
The Missing Metric for Endowment Growth: Net Flow Rate

Read The Missing Metric for Endowment Growth: Net Flow Rate. By comparing the net flow rate with the real investment return, an institution can determine whether its LTIP is successfully sustaining its role in the institution’s business model.
Read More »