Forum Fodder - Quarterly CE Alert!

Quarterly CE Alert! | December 2021

Our Quarterly CE Alert! highlights our upcoming live continuing education programs, and all of the complimentary on-demand CE/CPD-accredited resources we’ve published over the past few months.

The CE/CPD hours you earn can be used to help meet the CE/CPD requirements of 20 governing bodies (regulators, associations, and institutes), including ASIC, APRA, Legislated, AFA, FPA and CIMA CE/CPD requirements, to name a few.

You can access your CE/CPD certificates via your complimentary Forum MyCE record where you can store, view, print and export your CE/CPD 24/7 earned via the Forum - as well as any CE/CPD hours you have earned from learning activities hosted our CE Accreditation Partners.

Did you know:

You can add other CE to your Forum MyCE record - You can upload other CE/CPD (i.e. non-Forum accredited) to your Forum MyCE record so MyCE becomes your “source of truth” learning record store of all your CE/CPD. In your Forum MyCE, click on the link “Add other CE/CPD you have earned” below the View, PDF and Excel buttons. Get started

You can search for CE on specific competency areas (e.g. ethics) - Use our advanced Search function to find continuing education learning activities that most interest you, suit your learning style, and/or meet the requirements of your licensee. You can search by CE competency (e.g. Ethics hours), by the type of CE regime (ASIC, Legislated, FPA, CIMA, etc), by author, by knowledge domain (Philosophy, Markets, Strategies, Investing, Finology), by way of learning (read, watch, or listen), year or program (e.g. Strategies Conference, Markets Summit). Just click on the Search icon at the top of any page on the site. Get searching for CE

If you are a CIMA certificant - earn CIMA “Approved” CE hours via the Forum CIMA CE Library, a special subset of our full CE Library, that contains only those learning activities that carry CIMA CE hours. CIMA CE Library

Markets

Markets Summit 2022 “The best offence is a great defence!”
AEDT Wed 23 Feb 2022
With interest rates near historical lows and asset prices around all-time highs, practitioners are grappling with the defensive side of multi-asset portfolios. Downside protection is essential in such an uncertain environment. Arguably, the best offence is a great defence! Established in 2009, Markets Summit is THE investment markets scene setter of the year. The one-day program features 20+ leading investment thinkers - geopolitical specialists, economists, market/asset class experts, and investment strategists - from around the world, offering their best high conviction ideas on the drivers of and outlook for the markets (on a three- to five-year view) in the context of the theme - and the implications for portfolios.
Join us at our live studio, a live site, or via live stream | 7-11 CE | Register now!

Certified Investment Management Analyst^® (CIMA^®)

Stand for More in 2022! Are you involved in any aspect of constructing multi-manager portfolios?
CIMA certification is the peak, international technical portfolio construction certification program designed for investment management analysts – that is, those involved in any aspect of constructing multi-manager portfolios, whether practitioner or advocate. Stand For More - more knowledge, skill and expertise - with CIMA certification.
Enrolment is now open for the 2022 intake | Find out more and enrol

Finology | Exclusively for investment advisers

Finology College - Commencing January 2022
Finology College is the Forum’s “Special Interest Group” (SIG) for investment advisers focussing on behavioural FINance and investor psycOLOGY, to help empower your “Client Care and Practice” knowledge and skills.

Philosophy | Finology | As seen at Finology Summit 2021

Ethical decision making is not an oxymoron
Many assume there are two kinds of business decision makers - those who are ethical and those who are not. However, most of us are both.
Dafna Eylon, Eylon Associates | 1.00 CE | Watch, Listen

Markets

The Long View: The peak in peaks
As we enter the final quarter of 2021, the din of market sceptics continues. The narrative has now broadened beyond peak economic and earnings growth, however, to include peak everything.
Jeff Schulze, ClearBridge Investments | 0.50 CE | Read

Markets | Finology

Research Review: Narrative economics and Covid-19
Covid-19 is a situation in which an actual virus - as well as new narratives related to it and its associated consequences - began spreading at the same time, with major economic consequences.
Rob Hamshar, Portfolio Construction Forum | 2.00 CE | Read

Finology | As seen at Finology Summit 2021

The financial services industry has made money boring
The financial services industry has done the impossible and made money boring, opaque and difficult to understand. If we better understand the psychology of money, we can better help our clients.
Adam Ferrier, Thinkerbell | 0.50 CE | Watch, Listen

Finology | As seen at Finology Summit 2021

Helping clients decumulate responsibly promotes well-being
The mind-set that works so well when people are building their nest egg for retirement can damage their quality of life in retirement. We help clients accumulate responsibly - we can help them decumulate responsibly, too.
Meir Statman, Santa Clara University | 0.75 CE | Read, Watch, Listen

Philosophy | Investing | Finology | As seen at Finology Summit 2021

Positive ESG selection gives more sustainable returns than exclusion
Positive ESG selection creates a broader universe of sustainable companies and greater opportunity set than negative or exclusionary policies, delivering more sustainable risk-adjusted returns.
Stephen Fitzgerald, Affirmative Investment Management | 0.50 CE | Watch, Listen

Finology | As seen at Finology Summit 2021

Equity income is key to providing better retirement outcomes
A high equity income strategy tailored for retirees is a core solution for providing better retirement outcomes, maximising income while leaving capital intact.
Don Hamson, Plato Investment Management | 0.50 CE | 2 comments | Watch, Listen

Philosophy | Strategies | Finology | As seen at Finology Summit 2021

A reductive macro-economic framework can manage biases
When markets are exuberant, it is difficult to see - let alone act - against the hubris. When markets are down in the dumps, it is difficult to see past the misery. A reductive macro-economic framework may help.
Joseph Lai, Ox Capital Management | 0.50 CE | Read, Watch, Listen

Philosophy | Strategies | Finology | As seen at Finology Summit 2021

Simplicity wins in financial decision making
There are strong behavioural biases that attract investors to complex strategies. However, introducing complexity will, on average, diminish the odds of success and detract from returns.
Stephen Arnold, Aoris Investment Management | 0.50 CE | Watch, Listen

Finology | As seen at Finology Summit 2021

Finology benchmarking matters
Knowledge and proficiency in behavioural finance and investor psychology - finology - is developing ever better relationships with clients to help them achieve their goals. Benchmarking your current finology proficiency matters!
Rob Hamshar, Portfolio Construction Forum | 0.75 CE | Read, Watch, Listen

Markets | Strategies | Finology | As seen at Finology Summit 2021

We must tune clients in for a long-term low return world
Australian cash rates will stay low for decades. Low interest rates mean high asset prices, which means much lower returns ahead. Our client communications must be in tune with this new environment.
Tim Farrelly, farrelly’s Investment Strategy | 0.25 CE | Read, Watch, Listen

Finology | As seen at Finology Summit 2021

Advisers are key to retiree clients’ happiness and well-being
A recent independent study into retirement from the perspectives of over 1,500 older Australians found that financial advisers are the keystone to retirees’ well-being.
Jason Andriessen, MYMAVINS | 0.50 CE | Watch, Listen

Finology | As seen at Finology Summit 2021

Words matter and must be regulated
Regulation states that fund managers must not mislead clients. While prescribed scales exist for risk, analysis shows inconsistent application.
Douglas Isles, Platinum Asset Management | 0.50 CE | Watch, Listen

Philosophy | Investing | Finology | As seen at Finology Summit 2021

Often, adviser biases are more important than client biases
As investors themselves, investment advisers can suffer from the very biases they attempt to combat within their clients, risking the delivery of optimal client outcomes and deepening relationships.
Jason Komadina, MLC Asset Management | 0.50 CE | Watch, Listen

Philosophy | Strategies | Investing | Finology | As seen at Finology Summit 2021

Private debt is an asset class that can truly preserve capital
Quantitative easing has inflated the price and risk of asset classes. Private debt prices in this risk and offers investors the capital protection they deserve.
Andrew Lockhart, Metrics Credit Partners | 0.50 CE | Watch, Listen

Investing | Finology | As seen at Finology Summit 2021

Fossil fuel-burning utilities will benefit from a greener world
Investors are concerned about investing in assets with exposure to carbon emissions. However, regulated electric utilities will be a significant beneficiary in a greener world.
Ben McVicar, Magellan Asset Management | 0.50 CE | Watch, Listen

Finology | As seen at Finology Summit 2021

Active trust building is ethical
Trust is the product of two judgements clients make about us - our competence and our benevolence. So trust could, at least partly, be won without being earned. So is it ethical to try?
Herman Brodie, Prospecta | 0.75 CE | Watch, Listen

Philosophy | Markets | Strategies | Finology | As seen at Strategies Conference 2021

Macro matters: In the end, the macro matters for portfolios
In the 1990s and 2000s, investors were largely able to ignore the macro picture. But macro forces have reawakened and matter more than ever for portfolios to succeed in meeting client goals in the years ahead.
Pippa Malmgren, Alva Devoy, Magatte Wade, Ruth Richardson | 1.00 CE | 1 comment | Watch, Listen

Philosophy | Markets | As seen at Strategies Conference 2021

Markets are the means, not the end
All markets are embedded in a web of human relations, values and norms. We must rethink the relationship between market and civil society to return to a more secure and stable economic plane.
Raghuram Rajan, The University of Chicago | 1.00 CE | Read, Watch, Listen

Markets | Strategies As seen at Strategies Conference 2021

Now is the time for a dedicated EMD allocation
With attractive valuations and global investors underweight the asset class, the case for a dedicated Emerging Market Debt allocation is growing ever stronger.
Arif Joshi, Lazard Asset Management | 0.50 CE | Watch, Listen

Philosophy | Investing | As seen at Strategies Conference 2021

Manager style is not the only characteristic that matters
Style matters when constructing portfolios, but there are other characteristics in a manager that are as - if not more - important in generating consistent returns over the long term.
Myooran Mahalingam, MLC Investments | 0.50 CE | Watch, Listen

Philosophy | Strategies | Investing | As seen at Strategies Conference 2021

Private debt is not an alternative
Private debt essential to modern investment portfolios. If the end objective is an attractive risk-adjusted return, then private debt is the means to get there.
Andrew Lockhart, Metrics Credit Partners | 0.50 CE | Watch, Listen

Markets | Strategies | As seen at Strategies Conference 2021

The 60/40 portfolio concept is obsolete
We need to consider an expanded set of solutions including hedge funds and private markets so portfolios are truly the ends to the means.
Tony Davidow, T. Davidow Consulting | 1.00 CE | Read, Watch, Listen

Strategies | Investing | As seen at Strategies Conference 2021

Research Roundtable: Challenging investment strategies is the means to the end
Portfolio construction practitioners have access to a broader array of investment research, strategies and tools than ever before - yet obstacles to meeting clients’ long-term financial goals are equally numerous.
David Wright, Kyle Lidbury, Michael Furey, Sonia Bluzmanis | 1.00 CE | Watch, Listen

Philosophy | Strategies | As seen at Strategies Conference 2021

Wealth for the future requires climate aligned portfolios today
There is no point in building wealth for the future if that future is one of frequent and catastrophic climate events that undermine our way of life.
Chris Iggo, AXA Investment Managers | 0.50 CE | Watch, Listen

Strategies | As seen at Strategies Conference 2021

The answer for retirees is not the risk-return ratio
In retirement, investors seek to convert their savings into a sustainable salary replacement with access to growing capital. The metric for success must also shift to accommodate these trade-offs.
Paddy McCrudden, Magellan Asset Management | 0.50 CE | Watch, Listen

Strategies | As seen at Strategies Conference 2021

Total return beats income investing in the retirement race
Total return portfolios can support retiree spending strategies while removing the temptation to increase risk - in the end, producing better outcomes for retirees.
Aidan Geysen, Vanguard Investments | 0.50 CE | Watch, Listen

Philosophy | Strategies | Finology | As seen at Strategies Conference 2021

Better retirement solutions are the means to the end
As the Baby Boomer generation continues to transition to retirement and life expectancies rise, portfolio construction practitioners must ensure retirement solutions meet client goals right to the end of their days.
Adrian Stewart, David Richardson, Iain McCombie, Richard Dinham, Susan Thorp | 1.00 CE | Watch, Listen

Philosophy | Strategies | Investing | As seen at Strategies Conference 2021

Responsible investors should invest in good and imagine great
Companies that are solving the world’s greatest challenges - environmental or humanitarian – often have near term imperfections that see them starved of capital. A pragmatic approach embraces imperfections and focusses on the potential for positive societal impact.
Iain McCombie & David Richardson | 0.50 CE | Watch, Listen

Markets | As seen at Strategies Conference 2021

Inflation Roundtable: Inflation is the means - but to what end?
Uncertainty around the inflation outlook is at an extreme – yet a view on inflation is a critical input to building portfolios capable of achieving client goals out into the future.
Hayden Briscoe, Joachim Fels, Jonathan Pain | 1.00 CE | 1 comment | Read, Watch, Listen

Markets | Strategies | As seen at Strategies Conference 2021

Economists Roundtable: Three economic and market scenarios are the means to the end
Three economists describe and debate three plausible, forward-looking economic and market scenarios that have a reasonable probability of occurring during the next two to three years.
Andrew Hunt, Dominique Dwor-Frecaut, John McDermott | 0.75 CE | 1 comment | Watch, Listen

Markets | Strategies | Investing | As seen at Strategies Conference 2021

Net-Zero should change your thinking about Infrastructure now
Infrastructure plays a key role in the move towards decarbonisation and net-zero emissions. Government policy support and the unprecedented amount of capital required to achieve these targets should change how you think about investing in infrastructure.
Nick Langley, ClearBridge Investments | 0.50 CE | Read, Watch, Listen

Markets | As seen at Strategies Conference 2021

The inflation bubble will be deflated
Will current elevated levels be sustained? Not likely. Post Covid-19, secular factors such as debt levels and demographics provide even stronger headwinds against inflation than the preceding decade ever did.
Chris Siniakov, Franklin Templeton | 0.50 CE | Watch, Listen

Markets | Strategies | As seen at Strategies Conference 2021

It’s time for investments to move towards the next economy
Capital markets will be shaped profoundly as the economy transitions from a depletive economic model to a more sustainable one. Such transitions will inevitably create winners and losers.
David Li, Impax Asset Management | 0.50 CE | Watch, Listen

Finology | As seen at Strategies Conference 2021

Finology Roundtable: Growing a finology mindset is a means to a better end
Practitioner education focuses heavily on developing technical investment skills, often to the detriment of knowledge and skills that enable better engagement and understanding of the most important aspect of any portfolio – the client!
Rob Hamshar, Paul Moran, Pauline Ramsay | 1.00 CE | Read, Watch, Listen

Markets | Strategies | As seen at Strategies Conference 2021

Asset Allocation Roundtable: Designing portfolios for scenarios is critical to the end
Our hypothetical Investment Committee considers three relevant economic and market scenarios which have a reasonable probability of occurring, and the asset allocation implications of each.
Anne Anderson, Jacob Mitchell, Julian McCormack, Rob Mead, Tim Farrelly, Angela Ashton | 1.25 CE | Watch, Listen

Philosophy | Strategies | As seen at Strategies Conference 2021

The future of investing is in creating wealth and well-being
Investors should consider the real-world impact of their investments and build portfolios aligned with the UN Sustainable Development Goals as a means to building clients’ wealth, and improving well-being.
Erik Keller, Robeco | 0.50 CE | Read, Watch, Listen

Strategies | Investing | As seen at Strategies Conference 2021

Active long biased equity is core to meeting client goals
Investors should view long biased, long short equity as a core solution, dedicating a meaningful slice to portfolios, rather than being constrained by traditional equity/debt buckets.
Andrew Clifford, Platinum Asset Management | 0.50 CE | Read, Watch, Listen

Strategies | Investing | As seen at Strategies Conference 2021

Traditional approaches to ESG will not solve climate change
There are now a plethora of funds that aim to account for ESG issues based on different philosophies and processes. Passive screening and divestment approaches are inefficient ways of bringing about real change.
Kimball Mayer, GMO | 0.25 CE | Watch, Listen

Philosophy | Strategies | Finology | As seen at Strategies Conference 2021

The ethical advantage is the means to a better end
With the individual, business and economic benefits on offer from a more ethical Australia, the business case for change is a sound one. Strengthening ethics is simply a must for a better future.
Deen Sanders & John O’Mahony | 1.00 CE | Read, Watch, Listen

Forum CE Library - over 660 CE/CPD accredited learning resources
Complimentary for all Forum members, the Forum’s online on-demand CE Library offers over 660 CE/CPD accredited learning resources, to help members meet the CE/CPD requirements of 20 governing bodies (regulators, associations, and institutes)
including ASIC, APRA, Legislated, FMA, AFA, FPA and CIMA^® CE/CPD requirements, to name a few.
Earn CE/CPD hours

Forum CIMA CE Library - over 125 CE hours
This subset of the full Forum CE Library features just those learning resources that are accredited for CIMA CE hours, so CIMA certificants can more easily find learning resources to meet their recertification obligation (at the same time as meeting the CE/CPD requirements of other governing bodies e.g. ASIC, APRA, Legislated, FMA, etc).
Earn CIMA CE hours

Keep up to date - follow us @PortfolioForum
There’s no need to wait until our weekly Forum Fodder email to know what’s new with Portfolio Construction Forum. Follow us on Twitter to hear as soon as we release new articles on portfolioconstructionforum.edu.au and when registration opens for our onstage programs.

Connect with me on LinkedIn
We also let my LinkedIn network know as soon as we release new articles on portfolioconstructionforum.edu.au and when registration opens for our face-to-face CE programs. If LinkedIn is more your thing than Twitter, I’d welcome you connecting. And of course, I’d welcome having an offline direct conversation with you any time.