Institutional - Commentary & Outlook
2025
2025
Over the past 20 years, the Cambridge Associates Private Equity Index has beaten public equity benchmarks by a wide margin. But, as the saying goes, past performance is no guarantee of future returns. Today’s market dynamics, marked by rising fees, waning liquidity and inflated valuations, make private equity a far less compelling choice for retail investors than it once was.
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2025
2025
On August 7, 2025, President Donald Trump signed an Executive Order allowing 401(k) investors to access alternative assets in their retirement plans. On the surface, this change looks like an excellent opportunity for retail investors to access the potential benefits of private equity exposure.
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2025
2025
Both the Russell 2000 and Russell 2000 Value Index are back into the green for the year, as expectations for lower interest rates boosted stocks outside the technology sector. August began with concerns about macroeconomic growth driven by a weaker-than-expected July nonfarm payrolls report.
Read MoreRead MoreWatch NowInstitutional - Commentary & Outlook
2025
2025
On August 7, 2025, President Donald Trump signed an Executive Order allowing 401(k) investors to access alternative assets in their retirement plans. On the surface, this change looks like an excellent opportunity for retail investors to access the potential benefits of private equity exposure.
Read MoreRead MoreWatch NowInstitutional - Commentary & Outlook
2025
2025
The stock market extended its gains in August, lifted by stronger-than-expected corporate profits and ongoing momentum in artificial intelligence (AI)–related stocks, despite growing skepticism about the durability of the AI rally. Expectations for a Federal Reserve rate cut further bolstered sentiment, as did a surge in corporate buybacks, which surpassed $1 trillion—the fastest pace on record.
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2025
2025
Despite the strong bounce off the April lows, small capitalization indexes still get little respect. Both the Russell 2000 Growth and Value indices continue to trail the broader market. But, while the S&P 500 darts to new highs, the Russell is slowly grinding higher. For us, the result was a modestly positive month for the Pinnacle Small Capitalization Value portfolio. We continue to believe the small capitalization stocks represent an overlooked opportunity that will someday get the respect they deserve.
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Founded in 1984, Pinnacle Associates, Ltd. is a forward thinking, multi-billion dollar investment advisory firm focused on transparency and putting clients first. We provide advice to individuals and families, institutional investors and other financial institutions.
