Annual Outlooks

2018 Active Management Environment

In the 2018 Active Management Environment we continued to work towards a more comprehensive understanding of active manager behavior, and ways of using this knowledge to improve investment decision-making. Highlights of this year’s edition include: Our research indicates that active manager volatility relative to the benchmark tends to be persistent, on average, while active manager… More

February 2018

2017 Private Equity Outlook

Private equity investments are typically longer-term, illiquid, high tracking error commitments with an expected return higher than that of public markets. Notwithstanding the trajectory towards lower outperformance over public equities, we continue to see significant dispersion in manager returns in both venture capital and buyout. We believe that careful manager selection is key. Regardless of… More

September 2017