Forum Fodder

Portfolio Construction Forum | 25 November 2022

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The Portfolio Construction Forum team


 
 
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Forum Fodder | Friday 25 November 2022

“My guess is that… we’ll end up concluding in a couple of years that inflation was in fact transitory, but that the word transitory means ‘twice as long as you thought [it] meant’.” - Economist Justin Wolfers on Twitter (11 November 2022)

All the best for another week’s continuing education!
Graham
P.S. Check out below what’s new with our upcoming live and latest on-demand continuing education, accreditation and certification programs.

UPCOMING LIVE CE…

Markets

Markets Summit 2023 “It’s an ill wind that blows no good!”
AEDT 8.30am-5.30pm Wednesday 22 Feb 2023
For the first time in decades, an inflationary gale is rattling financial markets. Many post-GFC tailwinds have gone into reverse, as we experience a once-in-a-career regime shift from an era of globalisation, “rules-based” geopolitics, fiscal discipline, benign inflation, steady economic growth and ultra-loose monetary policy to one of localism, nationalism and war, fiscal largesse, soaring inflation, elevated recession risk and higher interest rates.
The shift is up-ending long-held investor beliefs and turning the winners of recent years into losers. Unprofitable tech and crypto assets are feeling the pressure, while previously unloved energy and value stocks soar.
Such regime shifts pose many challenges for portfolio construction practitioners. Yet, for those able to identify the powerful forces reshaping the outlook for markets, and to reorientate their portfolios accordingly, opportunities abound. It’s an ill wind that blows no good!
Markets Summit will help you better understand the key drivers of and outlook for the markets, and the opportunities and risks ahead on a three- to five-year view, to aid your search for return and to help you build better quality investor portfolios.
Join us in person at our live studio, a live site, or via live stream | 7-11 CE | Registration opens Monday!

For our full 2023 calendar click here.

LATEST ON-DEMAND CE…

Markets

What should jittery China investors do?
Western investors in China face a completely different economic terrain than the one in which they operated for more than a decade. In a rapidly deglobalising world, investors must consider their next moves carefully.
Dambisa Moyo, Versaca Investments | Read


Markets | Strategies | Investing | As seen at Strategies Conference 2022

Researchers’ Roundtable: The future ain’t what it used to be!
Practitioners must remain open-minded and continuously challenge their portfolio construction beliefs, techniques and tools. This session addressed three contemporary portfolio construction issues: We must use a risk-based framework for portfolio design; The value rotation has just begun; and, ESG ratings undervalue climate solutions…
Philipp Hofflin, Michael Furey, Michael Salvatico, David Wright | 0.75 CE | Watch, Listen


Markets | Strategies | Investing | As seen at Strategies Conference 2022

Infrastructure’s inflation hedge is real, yet misunderstood
Infrastructure’s unique inflation hedge characteristics protect companies and investors while allowing a tailwind of asset base growth to drive long-term total returns.
Shane Hurst, ClearBridge Investments | 0.50 CE | Watch, Listen


Strategies | Investing | As seen at Strategies Conference 2022

The future of private debt IS what it used to be!
If the question is how to achieve an attractive risk-adjusted return through all economic environments, then private debt is the answer. The future ain’t what it used to be - except for private debt.
Andrew Lockhart, Metrics Credit Partners | 0.50 CE | Watch, Listen


Investing

Research Roundtable: Warakirri Diversified Agriculture
This Research Roundtable focused on the Warakirri Diversified Agriculture strategy, with senior practitioners deciding, after briefings, Q&A and debate, their individual rating for the strategy and whether to include it on a hypothetical APL and/or multi-manager portfolios.
Portfolio Construction Forum | 1.50 CE | Read, Watch


Finology | Invitation to investment advisers

Complimentary self-assessment to benchmark your Client Care & Practice knowledge and skills
Financial advisers must continually improve their client care and practice knowledge and skills - doing so makes obvious business sense. Our new Finology Benchmarking Indices (FBI) self assessment tool helps you benchmark your investing biases, beliefs and behaviours versus peers, to further empower your “client care and practice” knowledge and skills. It’s complimentary to our members who give investment advice, while we continue to develop it.
Portfolio Construction Forum | 0.50 CE | Take the FBI self-assessment

SHORT COURSE ON-DEMAND CE…

Philosophy | Finology

Behavioural Finance: Investment decision-making short course
Led by behavioural finance expert, Herman Brodie, the Behavioural Finance - Investment Decision-Making course will help you identify, analyse and evaluate the principal human preferences that influence decision-making in situations of uncertainty, so you can recognise and identify these preferences in others, to improve investment decision-making.
Herman Brodie | 8.00 CE | Enrol

RECENT ON-DEMAND CE…

Markets

The age of megathreats
The world has entered a geopolitical depression with dangerous revisionist powers challenging the economic, financial, security, and geopolitical order that the US and its allies created after WWII.
Nouriel Roubini, Roubini Macro Associates | Read


Markets | Strategies

Spotlight on surviving bear markets
While equities do outperform in the long-term, the price we pay are the bear markets which periodically come along to test our staying power. This Spotlight is a guide to help investors survive bear markets.
Tim Farrelly, farrelly’s Investment Strategy | [Read] | Subscribe to Spotlight


Markets | Strategies As seen at Strategies Conference 2022

Asset Allocation Roundtable: Designing portfolios for future scenarios is critical
Our asset allocation consultants explain the asset allocation implications of the three Economic Scenarios and blended portfolio, and debate how best to implement the portfolio.
Sébastien Page, Tim Farrelly, Lydia Kav, Jonathan Ramsay, and David Wright | 0.75 CE | Watch, Listen


Strategies | As seen at Strategies Conference 2022

Private equity investing is critical in times of market turbulence
Private equity as an asset class is one of the longest-term strategies. Setting up a solid top-down framework is key to successful private equity portfolio construction.
Pauline Wetter, LGT Capital Partners | 0.50 CE | Watch, Listen


Investing

Research Roundtable: Warakirri Global Emerging Markets
This Research Roundtable focused on the Warakirri Global Emerging Markets strategy, with senior practitioners deciding, after briefings, Q&A and debate, their individual rating for the strategy and whether to include it on a hypothetical APL and/or multi-manager portfolios.
Portfolio Construction Forum | 1.50 CE | Read, Watch


Markets

Xi’s conflict-prone China
The outcome of the 20th Party Congress underscores an important distinction between economic growth “with Chinese characteristics” as it has long been described, and a very different strain of development with Xi Jinping characteristics.
Stephen Roach, Yale University | Read


Markets | Strategies | Rated in the top 5 at Strategies Conference 2022

Macro Markets Roundtable: The future ain’t what it used to be!
Investors began 2022 in bullish form however rising inflation concerns combined with Russia’s invasion of Ukraine soon soured the mood. More than ever, practitioners need to understand the key secular and structural forces impacting on markets and the portfolio construction implications.
Jonathan Pain, Marc Seidner, Andrew Clifford, Nikki Thomas | 1.00 CE | Watch, Listen


Strategies | Investing | Philosophy | As seen at Strategies Conference 2022

Sustainable investors need to go beyond ESG and target SDGs
Sustainable investing is booming - and sustainable investors need to align their strategies with sustainable development ambitions. The Sustainable Development Goals provide a valuable blueprint.
Jan Anton van Zanten | 0.50 CE | Watch, Listen


Markets | Strategies | Philosophy | As seen at Strategies Conference 2022

Your world is your “green” bond
Investing and engaging for change, committing to tackling the climate-related risks that threaten the future of the planet is our duty or our future ain’t what it used to be!
Ecaterina Bigos, AXA Investment Managers | 0.50 CE | Watch, Listen


Investing

Research Roundtable: Fidelity Global Future Leaders
This Research Roundtable focused on the Fidelity Global Future Leaders strategy, with senior practitioners deciding, after briefings, Q&A and debate, their individual rating for the strategy and whether to include it on a hypothetical APL and/or multi-manager portfolios.
Portfolio Construction Forum | 1.50 CE | Read, Watch


Markets | Strategies

Spotlight on residential property
After four decades of supercharged growth in residential property prices, we are finally seeing some of the froth come out of this market. This Spotlight argues that we are entering a very different environment for residential property prices.
Tim Farrelly, farrelly’s Investment Strategy | Read | Subscribe to Spotlight


Markets | Strategies

We’re in the midst of a regime change for portfolios
2022 has been a horrible year for investors. Usually when markets are down 20%, you might feel that the worst of the pain has passed. That’s unequivocally wrong. The most dangerous phase of markets is yet to come.
Alex Lennard & Fiona Ker, Ruffer | Watch, Listen


Markets | Strategies | As seen at Strategies Conference 2022

The search for returns just got real
The regime has changed. We know from experience that diversified portfolios are robust in a disinflationary world. But some portfolios may not be so robust in an inflationary world. The future is definitely not what it used to be.
Al Clark, MLC Asset Management | 0.50 CE | Watch, Listen


Markets | Strategies | As seen at Strategies Conference 2022

Thematic investing is a better mousetrap for global small caps
The future ain’t what it used to be, so capital allocators should look beyond arbitrary benchmarks and combine a thematic universe with the structural benefits of small cap investing.
David Sullivan, UBS Asset Management | 0.50 CE | Watch, Listen


Investing

Research Roundtable: Lazard EM Total Return Debt
This Research Roundtable focused on the Lazard Emerging Markets Total Return Debt strategy, with senior practitioners deciding, after briefings, Q&A and debate, their individual rating for the strategy and whether to include it on a hypothetical APL and/or multi-manager portfolios.
Portfolio Construction Forum | 1.50 CE | Read, Watch

PLUS MORE ON-DEMAND CE…

Forum CE Library - over 660 CE/CPD hours
Complimentary for all Forum members, the Forum’s online on-demand CE Library offers over 660 CE/CPD hours of accredited learning resources, to help members meet the CE/CPD requirements of 20 governing bodies (regulators, associations, and institutes) including ASIC, APRA, FASEA, 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 our full 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, FASEA, FMA, etc).
Earn CIMA CE hours

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What's new with our live and on-demand continuing education, accreditation and certification programs.