In an industry where size is often a boast, there are few powerhouses with great credentials and a low profile. Founded in the US in 1973, Cambridge Associates (CA) was established to provide investment research and advice to a group of major US university endowments.
In an industry where size is often a boast, there are few powerhouses with great credentials and a low profile. Founded in the US in 1973, Cambridge Associates (CA) was established to provide investment research and advice to a group of major US university endowments.
Fifty years later, with over $550 billion of assets under advisement and 11 offices around the world, CA helps its investors customize portfolios.
In this conversation, Annachiara Marcandalli, CA’s European Head of Sustainability and Impact Investing, as well as Partner at the firm, addresses their approach to customizing portfolios. She explains why it’s their belief that successful investing is incremental, not transformational. She discusses their search to identify managers’ economic incentives and alignment, before addressing the style drift, and why value and growth may cease to be relevant terms in the future. She speaks of the challenge presented by the rush into impact and sustainable investing - separating the “surfers” from the “serious” - and why ESG engagement matters.
Finally she speaks of liquidity around private assets, how they address crypto investing and the dangers of excessive reliance on financial modelling (as opposed to building resilience into portfolio construction).
Annachiara is a Partner and Managing Director at Cambridge Associates, a leading international investment advisory firm with $550 billion in assets . After complete her undergraduate degree in Economics she achieved an MBA at Yale, and was taught by David Swensen. She joined Cambridge Associates in 2000.
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