by Chris Flynn, Head of Research | Dec 18, 2020 | Research
This original CEM research was published in the December 2020 edition of the Journal of Investing. To get a copy of the article’s reprint, please email research@cembenchmarking.com ABSTRACT The CEM database contains private equity true-time weighted portfolio returns...
by Chris Flynn, Head of Research | Nov 8, 2019 | Research
In a theoretically ideal market in which participants have equal access and understanding of information, efficiency should occur. In this environment, actively managed portfolios should, on average, not be able to outperform indexed portfolios. Thus, the value added...
by Chris Flynn, Head of Research | Sep 8, 2018 | Research
Real estate is a significant element in the portfolios of large European institutional investors, with allocations making up as much as 10 percent of the average portfolio. The purported benefits of the inclusion of real estate in institutional investor portfolios are...
by Chris Flynn, Head of Research, Tej Dosanjh, John Simmonds, Franco Wang | Sep 8, 2018 | Research
Institutional asset owners across the world, encouraged by regulators, are increasingly interested in ‘hidden’ transaction costs – costs incurred in trading securities before returns are calculated. For Defined Benefit pension plans, every £ taken in cost needs to be...
by Alexander D. Beath, Founder and CEO, Alex Beath & Associates, Chris Flynn, Head of Research, Rotman International Journal of Pension Management | Apr 8, 2014 | Research
This article describes a study that analyzed the private equity performance and costs of large pension funds. Using data from the CEM Benchmarking Inc. (CEM) database, we establish that implementation style affects net performance: internal management outperforms...
