For institutional investors with a very long term time horizon, inflation lurks like a sometimes unwelcome guest at the table where asset allocation decisions are made and strategies set. It is an implicit (or sometimes explicit) bogey when setting an expected rate...
“Snow in April is abominable,” said Anne. “Like a slap in the face when you expected a kiss.” L.M. Montgomery, Anne of Ingleside April has been a cruel month indeed in the Mid-West. A carousel of snow, freezing rain, and sharp wind gusts downtown have...
It was a busy week for White House newsflow as Rex Tillerson, the Secretary for State, was removed somewhat suddenly and rumors of further turnover circulated, with McMaster potentially next to leave. Lost in the noise was a special election in Pennsylvania which saw...
If a picture is worth a thousand words, perhaps this is the picture to capture what February felt like. And early indications are that March might set us up for more of the same. The month started in a chaos of adjustments – to the potential absence of a...
Perhaps rumors of asset management’s demise have been premature. This week Goldman Sachs announced that it had raised $2.5 bn in “permanent capital” to make investments in private equity funds. The “permanent capital” here suggests that...
