March 16, 2020—Amid a turbulent global and market environment, we remain committed to our clients and colleagues.
Our clients’ needs change, and we can change with them. Our staff extension model complements our clients’ internal resources and provides them with additional expertise to help identify and implement the best investment ideas for their portfolios.
We often work with clients who have significant investment staff to augment their in-house support with our robust manager networks and deep portfolio construction and asset class expertise. Working with each client to customize a service arrangement, we can serve as a sounding board to clients’ investment staff on portfolio risk exposures, manager ideas and introductions, implementation plans including forward calendars, and upcoming investment opportunities.
This service model is designed to evolve with each client’s needs over time and typically works well for clients who don’t have the same level of resources and infrastructure across asset classes as a fully built investment office.
Our Latest Insights
Pensions face critical investment and management challenges as COVID-19 impacts capital markets. For single-employer plans, we have found that liquidity, rebalancing, implementation and communication are key issues to keep in mind.
As the COVID-19 outbreak has escalated in the United States, sponsors of single employer–defined benefit pension plans have experienced a roller coaster ride. Avoiding, or at least cushioning, another wild ride requires a well-designed hedging strategy that accounts for credit spreads. We provide context for this rapidly evolving spread environment and potential responses.
March 23, 2020— As we write in March 2020, COVID-19 is spreading across much of the world, undercutting economic activity. While how this situation will unfold is not entirely clear, we have long believed that the best way to guard against future uncertainty is to have a well-constructed portfolio. One key component in that is understanding the relationship between asset prices and inflation.
We are investors, not scientists; however, investors would be wise to consider climate science in their investment decision-making process.
March 10, 2020— Political machinations and virus-induced uncertainty are weighing on oil prices at present, and it seems unlikely that both these obstacles will soon be lifted. Investors should closely monitor positioning to ensure the current level of energy exposure is intentional.
Elevated equity market valuations and potentially rising bond yields suggest the return environment for traditional risk assets could be difficult. Faced with this challenge, institutional investors are seeking alternative sources of return. Alternative risk premia (ARP) strategies—which harvest well-established risk premia and market anomalies across asset classes—may fit the bill. ARP strategies have exhibited low […]
As investors prepare for the next equity market downturn, they should take a closer look at the benefits and limits of diversification.