Whitepaper Archives - Page 11 of 13

A Primer on Alternative Asset Classes

Close-up view of a tall modern building at night, with blue-tinted glass panels and illuminated lines highlighting the structure's geometric design—a primer in urban architecture.

The earliest of financial investments, pre-dating traditional stocks and bonds, were investments in private companies, private property, privately negotiated debt (non-bank loans made to companies, individuals or governments) and commodities like gold, wheat and corn. These private investments came about in a widespread manner in the middle of the 19th century. In the last 100…

View on Emerging Market Asset Allocation 2019

Blue and white light streaks on a dark background create an abstract pattern, reminiscent of market trends in 2019.

Recession Playbook

Vivid blue paint cascades and drips in a fluid, abstract form against a black background, creating an artistic playbook that defies the recession of creativity.

Our Recession Playbook is our strategy for managing your portfolio through the coming few years in the face of a potential global recession. Given that almost all past bear markets have coincided with global recessions, we make little distinction between a strategy for investing through recessions or protracted market downturns. We see them as one…

A Radical New Approach to the Endowment Model

Abstract image featuring smooth, flowing lines in varying shades of blue, resembling marbled or wave patterns—a radical new approach to visual art.

Is there a more attractive alternative to the Endowment Model of Investing? Today? No. But we raise this question as the universe of high returning strategies that have little correlation with traditional financial market returns continues to expand. Five years into our pursuit of so-called ‘Alternative-Alternative’ strategies, we are close to having sufficient options to build…

Emerging Markets Public Equities Allocation Rationale

A streak of light blue particles in a dark blue background, resembling a cosmic or underwater scene, evokes the fluidity and dynamism often seen in emerging markets.

Partners Capital Annual Investor Workshop 2018

Abstract image featuring swirls of dark blue and black hues, resembling liquid or smoke, creating a dynamic and fluid pattern, much like the innovative ideas exchanged at the 2018 Annual Investor Workshop hosted by Partners Capital.

The Cyclicality of Manager Alpha

Abstract image featuring flowing, curvilinear lines in various shades of blue against a dark background, resembling topographical map contours or marbled patterns, evoking a sense of cyclicality.

2016 represented a year by which active investors had crowded into virtually every corner of the investment world, exhausting any remaining pockets of inefficiency and saw more managers under-performing their benchmarks than we can recall in our 16 year history. As expected, we saw a capitulation by many capital owners who moved more of their…

Technology’s Impact on Active Investing

A close-up of swirling dark blue and black patterns resembling liquid or marble, evoking the dynamic nature of active investing.

Big Data, or the growing universe of information traversing the web, that is available to systematic and fundamental active managers is changing the competitive landscape favouring those firms best able to find and process such data into powerful investment insights. We expect the greatest alpha generation in the future to come from those fundamental managers…

Partners Capital Annual Investor Workshop 2017

A dark, abstract image featuring smooth, flowing curves with a teal and black gradient, reminiscent of the sophisticated atmosphere at the 2017 Annual Investor Workshop hosted by Partners Capital.

Investment Committee Best Practice

The best performing investment committee (“IC”) recognises its primary role is one of governance, not investing. Charles D. Ellis, the long-time Chair of the Yale University Endowment investment committee made this very clear in his often-cited article on Best Practice Investment Committees, published in 2011 in the Journal of Portfolio Management. Charley stressed that the…