Portfolio

We remain overweight APAC in both Private Equity and Venture Capital, recognizing the region and its opportunities have evolved meaningfully. Buyouts are growing faster than many realize, driven by Japan, while a deeper reset in fundamentals versus global markets supports stronger upside potential.

Special Report

We have received several questions from clients regarding practical issues surrounding strategic positions on gold. We find that gold is liquid and relatively inexpensive to trade while being a reliable diversifier that provides enough excess returns to account for loss in yield.

Special Report

The Iran war provides a timely motivation for examining how the main financial asset classes and commodity sectors perform across different inflation regimes and during periods of elevated geopolitical risk.

We explore how markets reacted to different oil supply shocks in the past, how conditions differ today, and provide a playbook for investors to navigate the current crisis. Remain neutral between equities, bonds, and cash. Downgrade Tail Risk Strategies from Max Overweight to Overweight.

MacroQuant recommends a strong underweight position in equities, favors a below-benchmark duration stance in fixed-income portfolios, has become neutral-to-slightly positive on the US dollar, has downgraded gold to neutral and copper to a strong underweight, and is bullish on oil.

Investment risk in Private Markets differs from that in Public Markets. It unfolds over time, with today’s issues coming from yesterday’s investments. We explain why, and more importantly, why the next dollar now faces lower risk across both macro and fundamental drivers. Just do not expect a discussion about standard deviations.

Investors are too complacent on the closure of the Strait of Hormuz. Upgrade cash and downgrade equities, both to neutral.

Special Report

Private Credit, Software, Iran, Trump – important headlines, but the opportunity lies elsewhere. In this edition of the Public Versus Private series, we do things a little differently. We focus exclusively on US Sunbelt Multifamily, a perennial area of global investor interest. We favor Public REITs over Privates with valuations near a bottom.

Special Report

Stablecoins are evolving from a niche crypto instrument into a macro-relevant financial layer. This Special Report maps the transmission channels and consequences for the Treasury market, bank funding dynamics, and the dollar’s global footprint.

Everyone has opinions on Private Credit, but few have the data, and fewer have the objectivity. We give you both. In under 5 minutes, you will understand how we got here and, more importantly, how to allocate from here.