Time-based rebalancing is inefficient. Research suggests that tolerance band rebalancing strategies minimise trading and boost portfolio returns. Such threshold approaches may be used in both the portfolio accumulation and decumulation phase, and act as a pre-commitment device for clients.

Twenty years ago, I predicted that the Digital Revolution would cause productivity growth to accelerate and inflation and interest rates to fall for a very long period. We now believe this trend will continue for at least another 10 and probably 20 years.

The "anomalies" literature is the scientific foundation for quantitative asset management. But as three recent papers point out, "p-hacking" is only the beginning of anomalies research problems.

To outperform the market you have to invest in something different. Investment returns are best captured through the exploitation of anomalies – the truly different mispriced opportunities.

US President Donald Trump has once again raised the possibility of a trade conflict with China. Getting tough on China while ignoring the consequences could be a blunder of epic proportions.

There is a growing body of evidence suggesting that chronological (C) age is dominated by biological (B) age as a better proxy for longevity risk. Practitioners must consider both ages when building portfolios and structuring retirement spending strategies.

The US has run chronic current-account deficits for almost two generations. Pointing the finger at surplus countries is getting old.

Where can practitioners take on the world’s best investors and win? Actually, in quite a lot of places.

With US unemployment at a 15-year low, the US Federal Reserve has greater scope to begin shrinking its balance sheet. Investors should set aside their fears, and remember that the Fed’s balance sheet provides little indication about what will happen to longer term interest rates.

Magellan is innovating again, this time raising money for what's been called a "monster" closed-end listed investment trust (LIT) with features that dramatically raise the bar for the standard model of closed end listed investment vehicles.

Using a Stage 4 investment analysis framework is a strong move towards a deeper understanding of portfolio risk drivers, and ensuring portfolios better reflect your investment philosophy.