Research

Insights



December 2022

Perspective on Market Performance in Recessions

Surveys of economists and fund managers, as well as forecasts from economic think tanks, increasingly point to a growing likelihood that the US economy could face economic contraction sometime in the next year. The Conference Board predicted in October of 2022 that there is a 96% probability of recession...

November 2022

Open-Ended Real Estate Queue Update

The following is an overview of recent economic and broad market events that may lead to disruptive expected cash flow patterns in our client’s open-ended real estate funds. In 2022, the public equity and debt markets experienced elevated levels of volatility and weakness. Year to date, private real estate...

November 2022

2022 Q3 Peer Group Analysis

Each quarter RVK utilizes peer group data to provide clients with a comparison of similar funds’ performance. Each client group listed is comprised of funds under the same category; the broad All Master Trust category includes Corporate, Healthcare, Taft Hartley Defined Benefit, Health & Welfare, High Net Worth...

September 2022

US Equity Trends - Momentum Shift
The correction among growth stocks in the US equity market has been swift. Investor sentiment has rapidly moved away from stocks with prices tied to above average long-term growth forecasts. This change has occurred in an environment...

September 2022

Understanding the Impact of Lagged Private Equity Returns
One of the inherent reporting challenges of illiquid investments, such as private equity (PE), is how to incorporate quarterly private valuations into total portfolio performance. The longer the private market valuations take...

September 2022

2022 Q2 Peer Group Analysis
Each quarter RVK utilizes peer group data to provide clients with a comparison of similar funds’ performance. Each client group listed is comprised of funds under the same category; the broad All Master Tru category includes...

August 2022

Post-Pandemic Investment Manager Due Diligence
The COVID-19 pandemic has meaningfully altered many of the ways RVK conducts its business on a day-to-day basis. Conducting manager research is no exception. At the onset of the pandemic, when nearly all the financial services industry shifted...

July 2022

Current Inflation in Context
The US Consumer Price Index (CPI) increased by 9.1% over the past 12 months ending June 30, 2022. While inflation has been elevated in the US over the past several months, the June inflation report was the largest 12-month increase since...

June 2022

The Fed Balance Sheet and Active Public Equity Management
The shift to passive management of public equities is well documented in the institutional investing landscape (see Figure 1). Although numerous rationales exist for this trend, the most common explanations include...