Media – Whitepapers
March 1, 2016
Abstract For institutional cash investors unsure of separately managed accounts in a rising interest rate environment, our scenario analysis suggests that a laddered portfolio of agency and corporate securities with a modest WAM could outperform the government money market fund proxy with negligible unrealized loss concerns in a rising rate
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February 1, 2016
Abstract Greater vigilance is required of today’s treasury investment professionals. Neither bank deposits nor money market funds alone may be appropriate in the post-crisis, post-regulatory environment. As yields start to rise, cash investment strategy decisions that may have been delayed will require serious consideration. Direct purchases in separately managed accounts
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January 4, 2016
Abstract 2016 will be a year of transition on many fronts for corporate cash investors. The Federal Reserve is expected to remain accommodative in removing monetary stimulus. There will be increased clarity following money market fund reform in October. Credit markets should also manage well through moderate credit deterioration and
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January 1, 2016
Capital Advisors Group is a Boston area-based institutional investment advisor that has been helping venture-backed companies invest their cash assets for more than 25 years. Its debt finance consulting division helps early stage companies, both public and private, determine their optimum capital structure, identify appropriate lenders, source term sheets and
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December 2, 2015
Introduction It has been more than a decade since the last interest rate tightening cycle. As we dust off this report written more than ten years ago for corporate treasurers on how to weather a rising rate cycle, we are struck by how little we needed to revise its content
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December 1, 2015
It appears that in a few weeks’ time, the Janet Yellen Fed may finally tighten the reins on the slightly anemic but well-employed U.S. economy. If economic reports stay neutral-to-positive through December, we could see the first Fed funds interest rate hike since the mid-aughts. This shift has been seen
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December 1, 2015
Abstract Institutional prime money market fund investors may face a number of liquidity challenges after October 2016. Floating net asset values, potential fees and gates on redemptions and unpredictable institutional shareholder behavior during times of stress all present potential obstacles. Cash investors may be able to avoid these difficulties with
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November 2, 2015
The life sciences debt financing market has experienced a turbulent decade. From the highs of the mid-2000’s to the credit crisis of 2008, and eventually to the slow but steady climb since 2010, investment and opportunity have expanded and contracted. Many of the market forces that made equity markets so
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November 2, 2015
This book provides chief financial officers and corporate treasury executives with an overview of changes in the cash investment landscape and a guide to more effective hands-on management of corporate cash portfolios. Its three chapters explain: 1) why many investment managers are migrating to separately managed accounts (SMAs); 2) what
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November 1, 2015
Capital Advisors Group is a Boston area-based institutional investment advisor that has been helping venture-backed companies invest their cashassets for more than 24 years. Its debt finance consulting division helps early-stage companies, both public and private, determine their optimum capital structure, identify appropriate lenders, source term sheets and negotiate debt financing deals. Note: For
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