1. A phoenix rises

    Market strategist and PortfolioConstruction Forum regular, Jonathan Pain, outlines what lies ahead in 2011, including the investment theme he describes as the next BIG thing...

    Jonathan Pain | 16-12-10 | More
  2. 2010 Conference - Webcast

    The 2010 PortfolioConstruction Conference Resources Kit is an invaluable set of continuing education material including the presentations, podcasts, videos, and research papers across the Masterclass, Critical Issues Forum, and Due Diligence Forum programs...

    27-09-10 | More
  3. Building shock resistant portfolios

    A regular keynote at PortfolioConstruction Conference, the Hon. Dr Pippa Malmgren was unable to join us this year - so in association with Ironbark Asset Management, we recently caught up with Pippa to get her views on building shock resistant portfolios...

    Hon. Dr Pippa Malmgren, Principalis Asset Management | 15-09-10 | More
  4. 2010 Conference - Critical Issues Forum Webcast

    The 10-hour Critical Issues Forum is one of two key components of the annual PortfolioConstruction Conference. It is a totally independent 10-hour plenary program featuring interactive sessions and selected international and local portfolio experts, designed by our specialist, experienced and independent team to cover two of our three pillars – Markets and Strategies. This Resources Kit - available only to Conference delegates - comprises videos, podcasts, papers and slides along with questions/comments raised by delegates during the program...

    12-09-10 | More
  5. 2010 Conference - Due Diligence Forum Webcast

    The 6-hour Due Diligence Forum is the second component of the annual PortfolioConstruction Conference, complementing the Critical Issues Forum. This Resources Kit - available to all PortfolioConstruction Forum members - contains the presentations, podcasts and research papers from the 2010 Due Diligence Forum program featuring 20 international and local investment experts presenting pre-approved research papers written specifically for Conference...

    10-09-10 | More
  6. 2010 Conference - Asset Allocation Masterclass Webcast

    This Resources Kit - available only to Masterclass delegates - comprises presentations, podcasts, and papers from the 8-hour 2010 Asset Allocation Masterclass program the day before Conference, during which selected international and local portfolio experts discussed that, with Western economies burdened by debt at a level not seen before, asset allocation has to take into account an entirely new landscape that in fact is a reversion to the past...

    07-09-10 | More
  7. 2010 PortfolioConstruction Conference: CIF - My portfolio construction takeouts

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, our two Inquisitors - Tim Farrelly and Chris Watling - summed up their key take outs from Conference, and actions to take as a result when building investor portfolios...

    26-08-10 | More
  8. 2010 PortfolioConstruction Conference: CIF - Avoiding avoidable mistakes

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, Tim Farrelly, Principal of farrelly's, argued that bubbles are often - but not always - detectable in advance and gave delegates an analytical framework to identify bubbles before they burst...

    26-08-10 | More
  9. 2010 PortfolioConstruction Conference: DDF - Adding protected strategies into portfolios to reduce risk and volatility while maintaining returns

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 argued that, going forward, it is vital to consider the market environment and latest academic research, and develop a better approach to TAA and downside risk protection, including using second generation capital protected strategies to help create more robust portfolios...

    26-08-10 | More
  10. 2010 PortfolioConstruction Conference: DDF - The investment opportunity in global commodity equities

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 highlighted the importance of a specific allocation to global listed soft commodities due to its small representation in the MSCI World Index, and argued that the soft commodities sector provides portfolio diversification benefits, with a low correlation and more attractive risk/return profile compared to broad global equities...

    26-08-10 | More
  11. 2010 PortfolioConstruction Conference: DDF - Diversification, are we managing away too much return?

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 addressed the construction of a multi-manager alternative product completely at odds with conventional wisdom in that it has a very small number of managers, and the use of such a fund in a typical Australian diversified portfolio...

    26-08-10 | More
  12. 2010 PortfolioConstruction Conference: DDF - Direct commercial property is in the black, but what have we learned?

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 analysed the commercial property market and investigated the various factors contributing to long-term, medium-term and short-term trends...

    26-08-10 | More
  13. 2010 PortfolioConstruction Conference: DDF - Active money - providing 20/20 vision for embedded risks in your portfolio

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 reviewed the concept of Active Money and how it can be applied in the Australian equity market to provide practitioners with a greater level of insight into the risk in Australian equity products...

    26-08-10 | 1 comment | More
  14. 2010 PortfolioConstruction Conference: DDF - ETFs - Pricing, performance and price discovery

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 explained why the Net Asset Value of international ETFs can differ from the daily closing price on exchange, and the reasons behind these pricing differences...

    26-08-10 | More
  15. 2010 PortfolioConstruction Conference: DDF - Why traditional equity portfolio risk measurement fails long-term investors

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 argued that Global Financial Crisis highlighted the flaw in modern portfolio theory which has dominated the industry’s approach to portfolio risk for decades, and made the case that portfolio risk is much broader than simply return volatility, and that the industry’s reliance on short-term volatility measures leads to incorrect assessments of portfolio risk...

    26-08-10 | More
  16. 2010 PortfolioConstruction Conference: DDF - 130/30 Australian Equity Investing - squeezing more out of up and down markets

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 argued that 130/30 strategies can viewed as an alternative to long-only funds, with short selling used as a possible way to generate alpha and improve portfolio efficiency...

    26-08-10 | More
  17. 2010 PortfolioConstruction Conference: DDF - The outlook for commodity markets and the likely impact on Australia

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 discussed why the current slowdown in growth in global industrial production can be expected to continue in the short-term, arguing that this should be viewed as a part of a normal cycle, with industrial production growth to re-accelerate into 2011, providing support to industrial commodity demand and that possible market corrections are buying opportunities...

    26-08-10 | More
  18. 2010 PortfolioConstruction Conference: CIF - whether the US has more shocks to come

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, Woody Brock, Founder of US-based Strategic Economic Decisions, argued that the US can rebound from its projected record US$20 trillion deficit, and what's required to achieve a soft landing...

    26-08-10 | More
  19. 2010 PortfolioConstruction Conference: CIF - How to kill a black swan

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, David Owyong, Head of Quantitative Research with MSCI Barra, explained the critical changes ahead for portfolio construction practices, particularly management of extreme events, SAA and risk management...

    26-08-10 | More
  20. 2010 PortfolioConstruction Conference: CIF - What this all means

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, our day one keynote speakers - Jonathan Pain, Chris Watling, Chris Selth and Manu Bhaskaran - argued their disparate views on the likely shocks ahead and the implications for building shock resistant portfolio...

    25-08-10 | More
  21. 2010 PortfolioConstruction Conference: CIF - Is China a global shock in waiting?

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, Singapore-based Manu Bhaskaran, Partner with the global Centennial Group, argued that while there are significant economic risks to the rise and rise of China, they are of low probability of eventuating...

    25-08-10 | More
  22. 2010 PortfolioConstruction Conference: CIF - The world and its challenges

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, Jim O'Neill, Chief Economist with Goldman Sachs, argued that the world is being turned upside down, and the BRIC and N11 economies will become increasingly relevant when constructing portfolios...

    25-08-10 | More
  23. 2010 PortfolioConstruction Conference: CIF - The seeds of potential future failure

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, Chris Selth, CIO with 5 Oceans Asset Management in Sydney, argued that the GFC was a wake-up call on the need to build shock resistant portfolios and explored how we can test old truths against new risks...

    25-08-10 | More
  24. 2010 PortfolioConstruction Conference: CIF - The "old normal" and what it means for the future

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, Chris Watling, CEO and founder of London-based Longview Economics aruged that there is nothing new about the post-GFC investing environment, and the increasing importance of a well diversified portfolio...

    25-08-10 | More
  25. 2010 PortfolioConstruction Conference: DDF - Currency management for Australian investors

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 explore which asset classes should be hedged, looking at the optimal hedge ratio for international equities. Is there in fact one answer, or does it change over time? Does it differ depending on the investment time frame? As the Australian dollar tends to be a pro-cyclical currency, does some hedging make sense?

    25-08-10 | More
  26. 2010 PortfolioConstruction Conference: DDF - Reviewing your equities approach - do domicile & index weights matter?

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 argued that typically, investors have arrived at their equities allocation (and domestic/international split) via mean-variance analysis of historical index returns and that this approach is fundamentally flawed Forward-looking investors should be asking “Where are the future tailwinds and is my portfolio positioned appropriately?”

    25-08-10 | More
  27. 2010 PortfolioConstruction Conference: DDF - Risky business

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 examined how active fund managers can manage exposures to volatility and shocks, and how each can be exploited in the quest to add alpha and improve shock resistance...

    25-08-10 | More
  28. 2010 PortfolioConstruction Conference: DDF - Killing the sacred cows of portfolio construction

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 examined and exploded many of the myths and delusions that investors have clung to, and proposed new ideas on how to build truly shock-proof portfolios...

    25-08-10 | More
  29. 2010 PortfolioConstruction Conference: DDF - Constructing debt securities portfolios in a lower growth and yield environment

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 argued that simple strategies such as investing in government bonds or passively following market indices through the cycle are no longer sufficient to fulfill the dual purpose of protecting portfolios when growth assets are weak and generating sufficient income to meet client goals...

    25-08-10 | More
  30. 2010 PortfolioConstruction Conference: DDF - Has Asia ex-Japan withstood the GFC

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 investigated the role of domestic investors in Asia ex-Japan and how governments are implementing measures to save investor interest and attract them to equity markets, as well as exploring the various reforms and policies underway that could potentially change the economic and investment landscape in the region to the advantage of Australian and global investors...

    25-08-10 | More
  31. 2010 PortfolioConstruction Conference: DDF - The volatility outlook and implications for constructing portfolios

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 argued that heightened volatility and potentially lower growth rates lie ahead. It discussed how to adjust portfolios, including what sources of alpha are likely to be most successful, what it means for the risk management of equity portfolios, and whether market capitalisation weighted benchmarks are less appropriate...

    25-08-10 | More
  32. 2010 PortfolioConstruction Conference: DDF - Investing for real income

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 focused on the volatility of investment income, and real growth, revealing that a high yield equity strategy can be the cornerstone of retirement income planning and that account-based pensions with this investment approach can resolve the longevity question by minimising the need to sell down assets...

    25-08-10 | More
  33. 2010 PortfolioConstruction Conference: DDF - Property - back on the defence

    This Due Diligence Forum Research Paper and Presentation from PortfolioConstruction Conference 2010 discussed how the fundamentals underpining a stable environment for property, combined with the strength of contractually-bound income from real estate leases, provide an attractive and relatively secure return profile during a period of uncertainty...

    25-08-10 | More
  34. 2010 PortfolioConstruction Conference: CIF - Alice in Wonderland meets the New Reality

    In this 2010 PortfolioConstruction Conference Critical Issues Forum session, Jonathan Pain, Editor of the Pain Report, argued that the world is now divided between the submerging and emerging nations, and explained the implications for portfolio construction...

    25-08-10 | More
  35. 2010 PortfolioConstruction Conference: CIF - Portfolio Perspectives

    Filmed exclusively for PortfolioConstruction Conference 2010, these vignettes feature global investment thinkers - Niall Ferguson, Russ Koesterich, Bill Gross, Larry Kantor, Jim O'Neill, Bill Priest, Tim Farrelly, Hamish Douglass and Peter Gunning - giving their perspectives on the Conference theme "building shock resistant portfolios"...

    25-08-10 | More
  36. 2010 Asset Allocation Masterclass: Allocating between developed and developing markets

    This Asset Allocation Masterclass presentation from PortfolioConstruction Conference 2010 featured Tim Farrelly of asset allocation research house farrellys, explaining processes and techniques for identifying if and when emerging markets should figure heavily in portfolios...

    24-08-10 | More
  37. 2010 Asset Allocation Masterclass: The evolution of risk in emerging markets

    This Asset Allocation Masterclass presentation from PortfolioConstruction Conference 2010 featured Mihail Dobrinov explaining the transformation of emerging markets as an asset class in terms of risk dynamics, as well as various techniques to identify and manage risks...

    24-08-10 | More
  38. 2010 Asset Allocation Masterclass: Are bond yields the signposts of global economic growth?

    This Asset Allocation Masterclass presentation from PortfolioConstruction Conference 2010 featured Andrew Lill of AMP Capital Investors explaining the ways in which fixed income investing can potentially navigate the current environment and the implications for portfolio construction...

    24-08-10 | More
  39. 2010 Asset Allocation Masterclass: The outlook for global equity markets

    This Asset Allocation Masterclass presentation from PortfolioConstruction Conference 2010 featured Chris Watling of Longview Economics arguing that there were four key reasons why recent equity market falls are just a wave of risk aversion and nothing more sinister...

    24-08-10 | More
  40. Investing in a volatile environment

    PortfolioConstruction Forum publisher, Graham Rich, caught up with the Hon. Dr Pippa Malmgren, for an update on her view of the markets...

    Hon. Dr Pippa Malmgren, Principalis Asset Management | 02-06-10 | More
  41. The Slight Depression - US outlook

    Niall Ferguson, Harvard Business School professor and author of The Ascent of Money, explains his expectations for the US economy...

    Robert Huebscher, Advisor Perspectives | 13-05-10 | More
  42. Academy Spring Seminar 2010

    This Academy Seminar debated three carefully selected topics, in a Socratic learning environment: Currency (to hedge or not to hedge); Adventures in asset allocation; and, The US economy (now and possible future scenarios)...

    07-03-10 | More
  43. Summit 2010: Key takeouts and portfolio construction implications

    Our final session of the PortfolioConstruction Markets Summit 2010 pulled together the day's discussion to ensure delegates determined their key takeouts and the portfolio construction implications...

    16-02-10 | More
  44. Summit 2010: The outlook for the global equity markets

    Our global equity investment experts - Martin Conlon of Schroders, Simon Flood of Lion Global Investors, Hamish Douglass of Magellan Financial Group, Kurt Umbarger of T. Rowe Price, and Andrew Clifford of Platinum Asset Management - shared their views of the current status and 2010-2012 outlook for the global equity markets including the key risks and opportunities, and signposts to watch for...

    16-02-10 | More
  45. Summit 2010: The big picture - the outlook for the global economy

    Doug Hodge of PIMCO and Robert Swift of BT Investment Management gave their perspectives on what to expect of the global economy in 2010-2012 - where we're at now, what's left to unfold on the road(s) to recovery including the key signposts to look for, and how to position portfolios...

    16-02-10 | More
  46. Summit 2010: The outlook for the global debt markets

    Our global debt investment experts - Kumar Palghat of Kapstream Capital and Dan Norman of ING Investment Management - gave their views of the current status and 2010-2012 outlook for the global debt markets including the key risks and opportunities, and signposts to watch for...

    16-02-10 | More
  47. 2010 Markets Summit - Resources Kit

    Are we there yet? Having passed through the GFC fire, and survived largely in tact, it was time to confirm the lessons learned and revisit the road(s) to recovery. A dozen independently selected investment experts engaged in a high quality discussion of investment markets and the risks and opportunities ahead in 2010-2012...

    16-02-10 | More
  48. Summit 2010: The big picture - are we there yet?

    PortfolioConstruction Markets Summit 2010 kicked off with publisher, Graham Rich, asking whether we be satisfied with the past decade of success - during which we unwittingly travelled through an historical inflection point of modern history - and asked in terms of the post GFC economic recovery "are we there yet?"...

    Graham Rich | 16-02-10 | More
  49. What lies ahead in 2010?

    Does the dawn of a new decade signal a change in the global economy?

    Jonathan Pain | 15-01-10 | More