In this edition of VantagePoint, we review the shape of historical recoveries from bear markets and recessions. We believe that both a V-shaped and a disastrous L-shaped economic recovery are unlikely, with a W- or U-shaped economic recovery more probable.
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
March 16, 2020—Amid a turbulent global and market environment, we remain committed to our clients and colleagues.
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.
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.
It has been difficult to find a more out-of-favor sector in institutional investors’ portfolios than energy over the past five years, and with the recent spread of COVID-19 reducing demand for oil & gas, that reality appears set to continue – creating both challenges and opportunities. Amid the sector’s ongoing evolution, the energy PE investment strategy that dominated the market has become outdated, and investors who wish to capitalize on potential opportunities in this market must re-think their approach.