Latest Research

What risks lie behind WashU’s exceptional returns? MPI’s analysis offers valuable lessons for CIOs and endowment boards.

MPI estimates that SpaceX contributed nearly 40% of Yale’s FY26 investment gain, with hedge-fund ties offering clues to how Yale and Penn gained exposure.

We compare Harvard with its peers and examine how concentration, long-term performance and portfolio risk change the picture of this year’s winners.

Penn, Stanford and MIT have reported sharply different FY26 returns. MPI examines the emerging endowment puzzle through the lens of economic exposures and portfolio risk.

We look beneath the apparent alpha of the top-performing Large Growth funds to ask what may really be driving the returns, and what that could mean for portfolio risk.

Can annual endowment returns reveal a concentrated private-market exposure before the underlying position becomes transparent? The recent SpaceX disclosures give us an unusual opportunity to test that question.

Using the Western Asset / Leech case as a study, we show how return-based surveillance can identify exposure drift, selection divergence, and performance deterioration that warrant closer due-diligence review.

Princeton’s experience shows how hedges and changing exposures can reshape an alternative-heavy portfolio. MPI’s returns-based analysis highlights why asset owners need to look beyond allocation labels to total-portfolio behavior.

Managed futures are moving into the mainstream. The next question is whether investors should buy the category — or the consensus behind it.

Diversification works — until the regime changes.