Should Investors Underweight Equities in Light of Recent Market Volatility?

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

The Pension (Re)volution: How the Hybrid Approach is Reshaping Retirement Plans

Independence Day, 1985. You just saw Back to the Future and can’t stop thinking about tomorrow—in particular, your retirement years. You imagine sitting beachside or traveling through Europe, confident that your company’s well-funded defined benefit (DB) plan will provide steady monthly income for life. But things are about to change for the generation behind you. […]

February 2025

Do US President Trump’s Initial Policy Decisions Put Energy Transition Investments at Fundamental Risk?

No. In President Trump’s first week back in office, he issued several executive orders related to climate and energy. These initial actions aim to reverse President Biden’s climate policies by withdrawing the United States from the Paris Climate Agreement (for the second time), curtailing growth of the clean energy sector, and boosting US fossil fuel […]

January 2025

VantagePoint: Avoiding Five Key Investment Pitfalls

The start of the year is an ideal time to review investment practices and procedures to ensure you are set up for success. Investing is challenging, even for the most seasoned investors, given the underlying emotions and mental biases inherent in human decision making. Successful investors have explicit investment processes that are clearly outlined and […]

January 2025

2025 Outlook

2025 stands at a crossroads. Will the impressive performance of US equities continue? Can private equity and venture capital achieve better results? What does the future hold for credit markets? We answer these questions and many others across all asset classes as we present our 2025 Outlook.

December 2024

2025 Outlook: Cross Asset

We expect global equities to outperform bonds, as near trend economic growth should support continued corporate earnings growth and healthy risk appetite. Stock/bond correlations should be lower than the 2023–24 peak levels, even as protectionist US policy may drive global economic uncertainty higher. Global Equities Should Outperform Bonds in 2025 Kevin Rosenbaum, Head of Global […]

December 2024

2025 Outlook: Diverse Manager & Impact Investing

We expect California Carbon Allowances (CCAs) to recover from 2024 losses as clarity on supply reductions emerges. Meanwhile, impact private investment flows will favor strategies with faster distributions and commercial validation. Additionally, headwinds for private diverse manager allocations should ease, but the overhang of emerging funds may lead to consolidation or shutdowns, challenging managers. California […]

December 2024

VantagePoint: Deconstructing US Debt Dynamics

The trajectory of US debt-to-GDP has sharply increased in recent decades, driven by significant fiscal stimulus in response to the Global Financial Crisis (GFC) and COVID-19 pandemic. Deficit spending remains elevated compared to typical levels outside of economic crises or wars, with official estimates predicting continued escalation, particularly if Trump’s presidential campaign promises are fulfilled. […]

November 2024