When the market starts to whipsaw, investors historically have sought out low volatility strategies, allowing them to potentially protect against some downside while staying invested in the market. Yet we believe this time-tested factor strategy can become even more powerful when combined with a screen for quality.
A combination of investment mechanics and the unpredictable nature of the economic and business environment means that attempts to time investments in private equity are highly unlikely to succeed, and will serve to undermine efforts to create a sustainable investment program.