Yes, in response to weak growth and a changing defence landscape, taking off the fiscal straitjacket should catalyse a more growth-supportive economic environment within Europe. There will be a direct growth impact as increased government investment is disbursed, some crowding in of private-sector investment, and the potential for further positive growth benefits from subsequent institutional […]
March 2025
Over the last few decades, many not-for-profit healthcare systems have enjoyed strong margins driven by favorable demographic trends, inexpensive debt, and improved cost structures through mergers & acquisitions. As a result, many of those systems have been able to amass significant investable reserves. However, in many cases the purpose of the investment portfolio is often […]
March 2025
In the first half of 2024, returns from US private equity and venture capital (PE/VC) were modest; the Cambridge Associates LLC US Private Equity Index® earned 3.4% and the Cambridge Associates LLC US Venture Capital Index® earned 1.4%. Within PE, buyouts and growth equity posted similar results (3.3% and 3.6%, respectively), but PE/VC returns generally […]
March 2025
No, investors should hold equity allocations in line with their policy portfolio weights. Trade policy uncertainty has forced many investors to reassess the trajectory of global economic growth, sending ripples through markets, and prompting US equities to enter a “correction” on March 13. Still, there are strong arguments for holding equity allocations steady. For instance, […]
March 2025
No, we do not think so. India’s economic growth is set to continue moderating, which may lead to further downgrades to stretched earnings growth expectations. Current equity valuations remain elevated, which poses additional downside risk. Still, the recent correction has taken some froth out of the market, and India’s longer-term structural tailwinds remain intact. As […]
March 2025
No, we don’t think so. There are parallels between today’s AI-related developments and the internet revolution of the late 1990s and early 2000s, as both eras involve profound technological change. Market concentration, increased capital investments, and valuation risks are among those parallels. However, the quality of companies today is higher and speculative excesses are less […]
February 2025
Overview Of the 255 CA clients that responded to the 2024 survey, 157 reported engaging in Sustainable and Impact Investing (SII) (54%). A group of 49 institutions have consistently responded to three consecutive surveys in 2020, 2022, and 2024. From this group, we have seen a steady increase in SII integration from 45% in 2020 […]
February 2025
Equity long/short (ELS) is a prominent strategy within the diverse hedge fund landscape, accounting for a significant portion—approximately $1.3 trillion, or 29%—of total hedge fund assets as of fourth quarter 2024, according to Hedge Fund Research, Inc. (HFRI). Put simply, ELS managers take long positions in securities they perceive as undervalued, and short positions in […]
February 2025