Grantor retained annuity trusts (GRATs) have been a popular and effective wealth transfer strategy for US families in recent decades and are even more compelling now. Despite their advantages, GRATs cannot achieve their full potential without careful analysis of multiple factors, including structuring and investment considerations.
June 2020
Before COVID-19 most hospitals generated liquidity from their operating model. In our May 2020 survey of 27 hospital systems, we learned that COVID-19 has driven hospitals to search for liquidity from multiple sources, including, for some, the investment portfolio.
June 2020
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.
June 2020
No, we still believe China remains an important exposure for investment portfolios.
May 2020
In April 2020, Cambridge Associates conducted a survey of our foundation clients to gauge sentiment about spending for the current year and to understand potential sources of flexibility and liquidity in light of the COVID-19 pandemic. This year has brought tremendous disruption and uncertainty, but foundations are approaching these challenges with responsive philanthropy and a long-term view, so they can support important causes in 2020 and beyond.
May 2020
The “secret sauce” to long-term investment success is, in most cases, the governance that guides and oversees the investment program. In this series, we discuss the roles and responsibilities of governance; highlight the steps to build a diverse and collaborative committee, and outline the culture of a well-functioning committee.
May 2020
April 8, 2020 - The economic impact from the COVID-19 virus has been swift, creating a dichotomy between “risk-free” Treasury interest rates and corporate spreads. In this paper, we outline how hedging programs may need to re-align their strategies given the current circumstances while continuing to lean on the basics.
April 2020
For non-profit institutions, the disruptions caused by the COVID-19 virus, and the speed by which these disruptions have materialized, create a perfect financial storm.
April 2020