Quarterly Results for Institutional Investors Reflect the Initial Impact of the Pandemic

Four of the primary types of institutional investors (public and corporate defined benefit (DB) plans; nonprofits; and Taft-Hartley plans) experienced sharp declines in the first quarter and smaller drops for the 12 months ending March 31. A quarterly rebalanced 60% S&P 500/40% Bloomberg Barclays Aggregate portfolio declined 10.9% during the quarter and 0.4% over the […]

Revisiting the Discussion About Futures-Based Portfolio Overlays

Lately, we have been advising our clients about issues that fall into two distinct categories: What can I do today with what I already own? What can I start doing now to give me a better set of tools in the future? To the first category, liquidity has been constrained and transaction costs prohibitively high […]

Behind Our 2020-2029 Capital Market Assumptions

Callan develops long-term capital market assumptions at the start of each year, detailing our expectations for return, volatility, and correlation for broad asset classes. These projections represent our best thinking regarding a longer-term outlook and are critical for strategic planning as our investor clients set investment expectations over five-year, ten-year, and longer time horizons. Our […]