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The farrelly's Dynamic Asset Allocation Handbook features editorial exploring investment strategy "hot topics", farrelly's long-term forecasts for asset classes, a detailed review of the long-term forecasts for an individual asset class (rotating across asset classes each quarter) and three asset allocation models to assist with implementation...

The farrelly's Dynamic Asset Allocation Handbook features editorial exploring investment strategy "hot topics", farrelly's long-term forecasts for asset classes, a detailed review of the long-term forecasts for an individual asset class (rotating across asset classes each quarter) and three asset allocation models to assist with implementation...

farrelly's Investment Strategy provides subscription and consulting tools and services to enable a dynamic, forward-looking approach to asset allocation, a key driver of quality portfolio construction and quality results for investors...

Active management has consistently delivered outperformance in small companies as the opportunity set allows managers to demonstrate both stock selection and portfolio construction skill.

The G7 countries may have set out to deter China without escalating the new cold war, but the perception in Beijing suggests that they failed.

We should never let rules of thumb override financial fundamentals, but there are times when fundamentals become quite hazy. Recent inflation data suggests that we are in such a period right now.

Certified Investment Management Analyst (CIMA) 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, mulit-asset portfolios, whether practitioner or advocate.

Throughout history, technological change has created both winners and losers. There is no reason why AI, like previous technologies, shouldn't produce more of the former than the latter.

Only buy High Yield Debt when it is super cheap? It's nuts and you can clearly see it's nuts.

Fragmentation and decoupling are becoming the new normal - US and China remain on a collision course, and a dangerous deepening of the ongoing "geopolitical depression" is all but inevitable.

Investors today have more knowledge than any prior generation, however there remains a chasm between knowing and doing. Acknowledging we are all biased, because we are all human, is the first step to better decisions.

The energy transition represents the greatest economic opportunity since the industrial revolution. Reliably capturing the potential and delivering tangible environmental impact requires three core beliefs.

In a wide-ranging speech last week, Janel Yellen reversed the terms of US engagement with China, prioritising national-security concerns over economic considerations.

Until the BRICS countries can find a credible alternative for their own savings, the greenback's dominance will not really be in doubt.

The basic principle of duration risk seems to have been lost on many bankers, fixed-income investors, and bank regulators. After being a non-factor for the last 15 years, the interest-rate sensitivity of deposits has returned to the fore.

Speculation that the world is deglobalising misses the mark - global integration is evolving, not retreating, in the digital era. Our world has changed.

India is poised to become the world's most important country in the medium term. Yet the model that has driven India's growth now threatens to constrain it.

America, China, and Russia are collectively sleepwalking down a path of conflict escalation, carrying high-octane fuel that could be ignited all too easily. Just like 1914.

Established in 2009, Markets Summit is THE investment markets scene setter of the year, focusing on the key drivers and outlook for the markets. As usual, 2023 Faculty were each challenged to offer their best high conviction proposition in the context of the program theme - this year, "Every VUCA cloud has a silver lining!" Their high-conviction faculty propositions can be distilled into three key discussion threads, supporting the case that, for portfolios, every VUCA cloud has a silver lining! Watch the highlights video, read the key takeouts - and then delve into the high conviction presentations that most interest you.

As the clouds of Volatility, Uncertainty, Complexity and Ambiguity continue to swirl, the silver lining is that we are on the road back to normal monetary policy settings, from abnormal, and a return to more rational asset prices. But we must be patient.

Investors need to leverage the experience of past decades while also humbly contemplating an uncertain outlook. Compared to any post-WWII period, this time really is different!

The pre-pandemic New Normal decade introduced investors to TINA - there is no alternative. With interest rates and bond yields having moved higher, it's time to say goodbye to TINA because bonds are back.

In these unsettled VUCA conditions, private debt can offer short duration with a focus on capital preservation, a silver lining for investors in the form of consistent, risk-adjusted returns and income.

Those constructing portfolios must understand the nuances of bond risk/return drivers and how bond market performance can be impacted by different macro scenarios. Opportunities abound.

The RBA is set to continue rate hikes that will bring on an earnings recession in 2023. Use Australian equity market weakness later in this year as the silver lining to position for an improved long-term outlook for Australian equities.

Global demand for greater computing power continues to escalate, presenting an exciting silver lining of possibilities and investment potential.

Inclusion of private equity as an alternative asset in portfolios is an out-of-date approach that does not consider secular trends in companies staying private and the unfolding democratisation of PE.

As economies continue to recover from the catastrophe of Covid-19 lockdowns, we must re-embrace the pursuit of progress, an idea that is central to science, freedom, and a thriving society.

Although the consequential volatility casts a VUCA cloud over global REIT performance, the silver lining is that this is transitory, in part reflecting a number of the sector's key attributes.

Sustainability is at the core of future societies. By channelling investments in companies with sustainable practices, heightened by environmental and social conscience, investors can seize opportunities in transitioning economies.

After a chaotic period, across most asset classes, silver linings are emerging. Global equity investors can capture these by identifying companies best placed to benefit from shifts in energy and technology.

Once the decision has been made to invest in global small caps, fundamentals return to the fore. Limited research coverage and inefficiencies in the market are the opportunity.

Investors will have to work harder to make money than just owning US beta. The silver lining is that there are large equity markets and sectors that are cheap with significant growth drivers.

After a lost decade, cyclical and structural headwinds are abating for emerging market equities, while profound secular changes are becoming tailwinds. But the path ahead will look very different to the past.

ESG analysis advances and drives sustainable investing by helping investment practitioners develop a clearer view of a company's true market value, consistent with their fiduciary duty.

Our diverse panel of experts debated which of the high conviction propositions they heard during Markets Summit 2023 they most strongly agreed with and why, including identifying "silver linings" (investment opportunities not yet fully priced into the market) and which they disagreed with most and why - and the portfolio construction implications of both.

There was plenty of food for thought and grist for the investment portfolio mill, coming out of the recent Markets Summit 2023 "Every VUCA cloud has a silver lining!".

The concept of "transitory inflation" is making a comeback. Looking ahead to the rest of the year and early 2024, three inflation scenarios stand out for me.

Many who attended this year's World Economic Forum in Davos were struck by the jubilant mood of the CEOs in attendance. It was hard to reconcile this optimism economic uncertainty caused by the war in Ukraine.

This Spotlight highlights that High Yield Debt can be a very useful addition to most investors' portfolios, producing returns that are close to those of Equities, but with lower risk. Read the abridged report.

This Spotlight finds that High Yield Debt can be a very useful addition to most investors' portfolios, producing returns that are close to those of Equities, but with lower risk. Read the full report.

Uncertainty and change are unavoidable realities of life. In the spirit of thinking differently and embracing uncertainty, I offer you this year's global developments to watch over the next five years.