Food for thought and CE from Portfolio Construction Forum

Practitioners are increasingly in the business of navigating - and helping clients navigate - the complex moral landscape of investing. This paper explores the extent to which culture impacts on our morality.

The next phase of the cycle may not be determined by who spends the most capital. It may be determined by who earns the highest return on that capital. That is a more demanding environment. It is also a healthier one.

For the past two years, investors have focused almost exclusively on scarcity. That scarcity mindset created extraordinary winners. This week the conversation evolved from scarcity to scrutiny.

The market still believes in the AI supercycle. But it is beginning to ask harder questions about price, funding, margins, energy, inflation and return on invested capital.

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

This week was a test of how markets process conflicting signals. Markets again showed how quickly they are willing to move past geopolitical risk when the AI capital cycle remains intact.

Portfolio Construction Forum's inaugural Private Markets International Short Course in New York could not have been more timely, as private markets moved through a structural inflection during April, May, and June, driven by rising liquidity demands, regulatory scrutiny, and the rapid funding of AI initiatives.

The market remains willing to fund transformational growth. SpaceX proved that. But SpaceX is not merely an IPO. It is a market structure event.

The Professional Planner 2026 Licensee Summit (10-11 Jun 2026) has been assessed and accredited by Portfolio Construction Forum for Continuing Education (CE/CPD) hours. Delegates must confirm their attendance in order to receive CE/CPD accreditation.

One of the most remarkable features of the current market cycle is that capital is no longer simply chasing growth. Increasingly, growth is chasing capital. The next phase of the cycle may be determined not by the capabilities of artificial intelligence, but by the capacity of financial markets to fund it.

Food for thought and CE from Portfolio Construction Forum

The Professional Planner Guide to Investment Innovation 2026 has been assessed and accredited by Portfolio Construction Forum for Continuing Education (CE/CPD) hours. Those who read it online on-demand must complete a CE Quiz to receive CE/CPD accreditation.

Markets continue pricing artificial intelligence as a productivity revolution. Increasingly, it is also becoming a capital cycle, influencing how capital is allocated throughout the global economy.

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

Markets continue to behave as though AI can absorb almost any macroeconomic shock, largely pricing AI as an abundance narrative. Meanwhile, the underlying system is increasingly signalling scarcity.

Markets continue to behave as though AI can overpower the macro cycle. But underneath that confidence, a different system is emerging.

The Investment Management Analyst Certificate (IMAC) advances investment management analyst knowledge, skill and expertise in a definitive set of competencies necessary for building and/or advising on quality multi-manager portfolios. It is both a structured post-graduate certificate course in its own right, and the Australian-based Registered Education Program for the global Certified Investment Management Analyst® (CIMA®) program.

For investment advisers, empathy without objectivity can become harmful. Expertise, intuition and independent thinking are best built through deep internalised knowledge, not passive reliance on AI.

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-asset, multi-manager portfolios.