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Insights

Labour’s Big Win to Result in Policy Evolution Rather than Revolution in the UK

The Labour Party secured a sweeping victory in the UK general election, returning them to power for the first time since 2010. Although Labour’s share of the vote increased only slightly since 2019 to 34%, the Conservative’s loss of votes to Reform allowed Labour to win 412 of the country’s 650-seat parliament. Even so, we […]

July 2024

Are Co-investments Attractive in Today’s Environment?

Yes. We believe co-investments are an attractive opportunity in the current market for three primary reasons. First, the challenging fundraising environment has increased the incentive for general partners (GPs) to offer co-investments. Second, in a slow-paced environment, the ability to control capital deployment is increasingly valuable for limited partners (LPs). Third, a co-investment offered today […]

June 2024

Will Artificial Intelligence Continue to Propel the Market Forward?

Yes, we believe it will. Excitement around artificial intelligence (AI) and its related technological advancements has been a key market driver since early 2023. Investors are rightly enthusiastic about the potential for AI to support labor productivity and growth. We share this enthusiasm, while acknowledging the uncertainty in quantifying these benefits. Despite AI’s long-run promise, […]

June 2024

European Central Bank Cuts Interest Rates by 0.25%

On June 6, the European Central Bank (ECB) cut its main interest rates by 0.25%, becoming the first major developed markets (DM) central bank to cut rates. This follows recent decisions by central banks in Canada, Sweden, and Switzerland to reduce their policy rates, and it marks a change in the interest rate cycle that […]

June 2024

Optimizing Wealth Infrastructure for Families

Many families who have succeeded in building wealth or experienced a major liquidity event find themselves in uncharted territory. This includes families who are thinking through how to separate the management of their finances and investments from those of their company, as well as those who have recently sold a business. In some cases, a […]

June 2024

Will the Yen Continue to Support Japanese Equities?

No. The Japanese yen has been on a weakening trend for several years. For most of that time, it has been a lynchpin of Japanese equity outperformance in local currency terms. We believe there is limited further downside for the yen, which, while removing a headwind for USD returns, also removes the main pillar of […]

May 2024

The Private Credit Playbook: Understanding Opportunities for Family Investors

Today, private investors and wealthy families are facing uncertainties related to economic growth, inflation, interest rates, and private investment exit opportunities. Yet, these same market challenges are serving as tailwinds for certain asset classes, including private credit. In today’s environment, we believe private credit can deliver attractive returns, supported by a strong foundation in protected […]

May 2024

VantagePoint: Building Resilient Public Equity Portfolios

While there has been much debate around whether active managers can outperform passive indexes overall, a more relevant question is whether investors should pursue active management in public, long-only equities at all. Despite the challenges, we believe active management, especially in less efficient markets, can be worthwhile if investors: 1) employ a rigorous manager research […]

May 2024

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