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Private Capital | Articles

What’s the Difference? Time-Weighted Return vs. Internal Rate of Return

Investors often ask about the difference between time-weighted return (“TWR”) and internal rate of return (“IRR”). In general, TWR is used by the investment industry to measure the performance of...

Perspectives | Press Releases

2019 Council on Foundations-Commonfund Study of Foundations Released

National Study Reports Strong Investment Results in 2019 Increased Foundations’ Intermediate-Term Returns   Data from the Council on Foundations-Commonfund Study Show Spending in Support of Mission...

Governance And Policy | Videos

Commonfund Manager Spotlight | Stellex Capital Management

In celebration of Black History Month, Commonfund Institute Executive Director, George Suttles, and Commonfund Director, Nicole Melwood, interview Ray Whiteman, Managing Partner and co-Founder of...

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Risk Management | Insights Blog

The Curious Case of Risk Exposures in Diversified Portfolios

Our research at Commonfund has found that a 70/30 stock/bond portfolio  has north of 99 percent of its risk, as measured by standard deviation, allocated to equities. Thus, portfolio risk typically...
Outsourced CIO | Insights Blog

5 Things to Consider When Choosing an OCIO

Nearly all CFOs and investment committees consider it. And more than ever are acting upon it: investigating the possibility of an Outsourced CIO (OCIO) to manage their institution’s investments. The...
Risk Management | Insights Blog

Defining Risk For Your Organization

Merriam-Webster’s defines risk as the “possibility of loss or injury.” The financial profession — borrowing from Modern Portfolio Theory — uses the standard deviation of a portfolio’s returns to...
Responsible Investing | Articles

Impact Investing: Balancing the best of responsibility & opportunity

Impact investing is showing growth around the world. According to the most recent J.P. Morgan/Global Impact Investing Network Impact Investor Survey, the number of institutional investors engaging in...
Governance And Policy | Insights Blog

Impact Investing

Recently, Commonfund convened an expert panel of investment managers to hold  a roundtable discussion and take a closer look at the different impact investing strategies being implemented today. The...
Governance And Policy | Articles

Viewpoint: Changing Our Minds

It is often said that we live in a world of change, but it is surprising how slowly that change can occur. Seven years after the onset of the Great Recession, many business school students are still...
Outsourced CIO | Articles

Multi-Asset Investing: Form Follows Function

The design axiom captures the purpose of multi-asset investing Interest in multi-asset investing is growing and the inflows confirm it: Institutional assets committed to multi-asset investing are...
Outsourced CIO | Articles

Of Apples, Oranges and Onions: Assessing OCIO Performance and Fees

Nearly all CFOs and investment committees consider it. And more than ever are acting upon it: investigating the possibility of an Outsourced CIO (OCIO) to manage their institution’s investments. When...
Private Capital | Articles

Global private equity: what and why

What and Why An article in the previous issue of Insight sought to discern the difference between perception and reality in private equity investing generally, and included a companion article...
Perspectives | Articles

Smart money, crowded trades?

For investors building multi-manager portfolios, a look at an alternative hedge fund beta. Approaches to stock selection vary widely across the hedge fund universe, even among managers practicing the...
Risk Management | Articles

Greenhouse Effect

Investment returns of less well-diversified portfolios have flourished in the accommodative market environment created by central banks. But what will happen when rates rise? In the last five years,...
Perspectives | Articles

Working capital: challenge and opportunity

On campus, the thinking about operating asset management is changing with the times. In the wake of the 2008 financial crisis and Great Recession, liquidity was the primary concern on university...