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Cambridge Associates

Service Providers Framework 2020

You are in Investment Consultancy » Investment Consultancy

Investment Consultancy

IC 01. Advisory and consultancy services

01.1. Indicate whether your services include any of the following.

          Capital Markets and Thematic Research, including on ESG issues
Review and monitor risk exposures 
Investment operational support

01.2. Describe how you ensure that your clients understand your service offerings and fee structure.

          During the business development process, we provide each client with a detailed list of services that we propose to provide to them.  This is accompanied by the proposed fee structure.  Once the client has accepted Cambridge Associates’ proposal, the same services and fees are laid out in the contract of engagement for the client to review and approve.

01.3. Additional information. [OPTIONAL]

IC 02. Assets under advisement (Private)

IC 03. Fiduciary manager services

03.1. Indicate whether you provide fiduciary management services.

03.2. Describe how you incorporate ESG factors into your fiduciary management services.

CA Capital Management, Cambridge Associates’ dedicated Outsourced Chief Investment Officer (OCIO) business, provides discretionary outsourcing services to institutions globally. We currently manages more than $37 billion in assets on behalf of more than 107 discretionary clients, as at June 2019.

Incorporation of ESG factors is included as a core part of the service of our OCIO offering. The team contains ESG subject matter experts in senior OCIO roles to provide appropriate investment outcomes to discretionary clients incorporating their ESG/RI goals. For example, one of the key founder's of the firm's Mission Related Investing practice a decade ago now works as an OCIO, bringing deep expertise on ESG/RI issues. The team also draws on the investment research capabilities of the broader firm, which integrate consideration of ESG issues.

The team has no off-the-shelf products and all discretionary management is driven by the specific needs of the individual client and is enacted in accordance with that client’s own investment policy and goals, to include ESG, RI, and Impact. These goals may place substantial importance on ESG factors. Our own firm-wide focus on ESG integration also enhances our ability to deliver a robust discretionary solution.

03.3. Describe how ESG incorporation fits into your interpretation of fiduciary duty.

          Given our sole focus on helping our clients add long-term value to their portfolios, we recognize that material environmental, social and governance (ESG) factors can impact the performance of investments.

03.4. Additional information. [OPTIONAL]

CA Capital Management is privileged to work with asset owners taking a leading stance on ESG/RI.  For example a high profile US non-profit discretionary client recently announced the creation of a substantial carve out within their endowment dedicated to impact investments, managed by CA Capital Management, with the aim of generating strong social and financial returns and further aligning the endowment with their mission and values. During the reporting period we also began implementation for a major UK Pension fund client building a new private investments allocation with a very material focus on ESG, sustainability and responsible investment. Every investment must meet strict ESG criteria, with bespoke analysis relative to the client's specific ESG requirements a core part of our discretionary service.

Other discretionary mandates incorporate client specific detailed ESG policies or exclusions. Our independence and the customized approach to discretionary management gives us a strong platform to incorporate client-specific ESG considerations into the process.


IC 04. ESG in contracts with clients (Not Completed)