Multiemployer Health & Welfare plans are in the midst of an economic climate where rising healthcare costs will be transformative for both insured and self-funded plans. Increased cost implications, as a product of several factors such as the Affordable Care Act (ACA) provisions, increased insurance premiums and rising pharmaceutical drug prices have a direct financial… More
November 2014
The Hedge Fund industry has been communicating to their clients that the current environment is characterized by especially low volatility and especially low price dispersion. They have further claimed that this has made it particularly difficult for Hedge Funds to generate alpha. However, if we examine volatility levels over the past 10 years it is… More
October 2014
Topic of Interest: Are Unconstrained Bond Funds a Substitute for Core Bonds? Download the Report
August 2014
This Topic of Interest paper discusses the role of Treasury Inflation Protected Securities (TIPS) in a portfolio, examines the sensitivities of these instruments to various market factors, and offers investors our thoughts regarding the proper investment horizon for TIPS usage. Download the Topic of Interest
July 2014
The market environment for new commitments to Private Equity Investors is not broadly favorable, as investors face a variety of headwinds to performance. Rising distributions and increased fund raising has led to record amounts of dry powder, which has driven up valuations and may result in a crowded future exit environment. However, we have found… More
June 2014
Ian Toner, CFA Director of Strategic Research, has released this Topic of Interest paper to address recent news relating to hidden portfolio costs. Scandals in transition management, currency and stock trading arenas have drawn attention to the fact that investors’ portfolios can be subject to unexpected costs for a variety of reasons. Those stories are… More
April 2014
Real Estate Outlook – Investors should maintain a strategic exposure to core real estate, which remains an attractive part of a total portfolio. Non-core real estate currently presents stronger opportunities for value-add, but these peripheral properties represent an implicit bet on the economy, since this space will be highly sensitive to economic trends.… More
March 2014