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Portfolio Construction Forum







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Friday 27 April 2018


Specialist, independent investment continuing education & certification

Forum Fodder | Monday 27 August 2018
The more I read, the more I acquire, the more certain I am that I know nothing. - Voltaire
All the best for another week's continuing education!
- Graham


FASEA proposals fail to address the P and D of CPD
FASEA's proposed CPD standards will fail to lift the educational standards required of an emerging profession, as they only address the 'Continuing' aspect of CPD, and ignore the crucial 'Professional' and 'Development' elements.
Graham Rich, Portfolio Construction Forum |

Investment crystal balls: broken or imperfect
Investors have long relied on two crystal balls when predicting future returns: equity risk premium and the yield curve. Crystal balls have their place, so long as they are combined with an uncommon degree of common sense.
Amin Rajan, CREATE-Research |

Investment Management Research Conference 2018
The annual IMR Conference brings together the full spectrum of investment management analysts - academic faculty from leading university business schools, public sector members, central bankers, professional investors, consultants and experienced practitioners and advocates - to advance investment management research and enable practitioners to better identify quality investment management solutions and their place in portfolios.
20-21 Sep 2018, Sydney | 13 CE Hours (incl CIMA CE hours) | A$295+GST | Register now!

Philosophy | Strategies
Future-proof portfolios are entirely achievable

Future-proofing isn’t about guaranteeing an outcome. No strategy can do that. It's about implementing strategies today that increase the likelihood that multiple objectives, often with different time horizons, can be all achieved.
Rudi Minbatiwala, Colonial First State Global Asset Management |

A future-proof portfolio should guard against pessimism
There will always be movements in markets that we need to be attentive to, and you should construct a portfolio that takes advantage of fear. But don't let that fear drive the dominating principles in your portfolio construction.
Tony Crescenzi, PIMCO |

Electric vehicles are not game changing
Consensus appears to assume that electric vehicle adoption rates will increase dramatically. This view is misplaced. The impact on the oil price and equity market leadership is not something that investors are positioned for.
Stephen Anness, Invesco| 0.25 CE |


QE turns 10

November 2018 will mark the tenth anniversary of quantitative easing - undoubtedly the boldest policy experiment in central banking modern history. There are five key lessons learned from QE.
Stephen Roach, Yale University |

Just how dumb are the bond markets?
If US bond rates go higher from here, it is likely to be in response to something we don't yet know, rather than what is already out there. Markets are not nearly as dumb as many suggest.
Tim Farrelly, farrelly's |
1 comment | More

The assumption of unendingly low interest rates is dangerous
Investors should focus more than ever on uncovering sources of idiosyncratic alpha, rather than relying on momentum or passive beta.
Jacob Mitchell, Antipodes Partners | 0.25 CE |

Does fixed income still diversify portfolio risk?
Re-evaluate the conventional assumption that owning government bonds is inherently defensive and risk diversifying. At best, it's an expensive choice and at worst, it won't work.
Gopi Karunakaran, Ardea Investment Management |

Markets | Investing
Passive is not the way to go when investing in Asia
Differences in regulation, politics, and transparency between Asian countries are all factors that cannot be captured by passive investing but which represent opportunities for active investors.
Peter Kim, Mirae Asset Daewoo |

The global economy's uncertain future

The sustainability of global growth depends largely on the US and China. One hopes that someone close to Trump can turn him around before his policies derail the world's long-awaited recovery.
Jim O'Neill, Manchester University |

Markets | Strategies
Licence to tilt - DAA can overcome lower returns
Historical asset allocation methods will not generate appropriate returns in the period ahead, driving the need to be more dynamic to increase both absolute and risk-adjusted portfolio returns.
Kej Somaia, Colonial First State Global Asset Management | 0.25 CE |

Finology | Investing
Why do older Australians save?
A recent study gives us a better understanding into the decisions made by older Australians between consumption and saving.
David Knox, Mercer |

Markets | Strategies
Bonds are more important than ever
The diversification benefits of bonds increases in a low yield market, and bonds remain one of the best instruments available to investors looking for liability matching as they approach retirement.
Dean Stewart, Macquarie Investment Management | 0.25 CE |
1 comment | More

Markets | Strategies
Europe: it's a long way to the top
It is doubtful that "safe" exposures (global consumer giants) will earn investors strong returns from this point – shift gears rather to domestic European exposures.
Nik Dvornak, Platinum Asset Management | 0.25 CE |

Markets | Investing
Netflix will be the next dominant digital business
Over-the-top streaming will become the dominant form of media consumption, and Netflix will be the dominant global provider. Near-term valuation multiples may ultimately prove cheap.
Nick Griffin, Munro Partners | More


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