You learn a vast amount in a week. Here are my key takeouts from Day 1...

Near the end of each decade, a bubble seems to emerge in financial markets...

This paper examines traditional approaches to buying international equities, highlighting some of the problems with capitalisation-weighted benchmarks, and suggesting that replicating a global index may no longer be the optimal solution for those investors with longer-term investment horizons. It looks at some of the new strategies available to capture beta and illustrates how diversification can be used to manage risk for investors in a less constrained portfolio.

The 5th Annual PortfolioConstruction Conference featured a core, independent 13-hour plenary program over the two days, designed by the PortfolioConstruction Forum's specialist, experienced and independent team. As always, we selected our plenary speakers based solely on their portfolio expertise (not the size of their wallets! None of our plenary speakers paid to speak)...

Following on from the successful offerings of Nexus 1, 2 and 3 by Deutsche Bank, Nexus 4 - the first foray into a managed CDO by Nexus - has recently announced that it has suffered an event of default in its income portfolio...

A recent study out of the US takes a shot at what you may believe about dollar cost averaging, one of the sacred cows of investment…

Emerging markets have been out of favour with mainstream investors since the series of financial shocks in the late 1990s that culminated with the default by Russia on its sovereign bonds in 1997. So what has changed since then, to bring emerging market debt back into favour (with a number of new products being released that provide exposure to emerging market debt)?

How would a global bird flu pandemic affect financial markets? If past history, including the effect of SARS in 2003 is anything to go by, the effect would be significant...

As we took the Global Energy and Commodities Investing Forum around the country, one of the hot discussion points was total return investing and portfolio construction...

In each You Asked For It, we ask the public research houses to respond to topical portfolio construction questions of the day. This fortnight, it’s hedge funds. Are they an asset class? Should they be classified as growth investments, defensive, both or neither? Seven research houses responded…

A common question from the many advisers who implement direct equities through model equity portfolios is how to justify putting a client into the underlying shares which may have risen steeply since the inception of the portfolio, or since its last rebalance…

What is an ETF, what are the key performance and cost differentiators compared to actively managed equity funds, and how can they be integrated into a portfolio?

In a core and satellite approach to portfolio construction, some of the benefits of including low cost, index-tracking products such as exchange traded funds (ETFs) in the “core” of a portfolio...

It may be time for investors to consider rebuilding investor exposure to Asian stock markets but they will need to make use of Asia-specific equity products to obtain the desired exposure, says Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors…

Australian superannuation funds allocate more to private equity than their European counterparts, and are poised to increase their offshore private equity investment…

With unlisted private equity companies comprising such a major part of the economy, it makes sense that they should form part of an investment portfolio as well...

The New Zealand Superannuation Fund has unveiled a significant shift in its strategic asset allocation and plans to significantly increase its allocation to alternative assets…

Presentations and full transcripts from the PortfolioConstruction Conference 2004 are now available...

Active management is proportionately more important now than it ever has been, and new and viable types of active return are emerging, argued David Brown, QIC's senior fund manager strategy at December's Portfolio Construction Forum Researchers' Roundtable. Here are images of David's presentation slides, with full notes...

A key focus of each Portfolio Construction Forum Researchers' Roundtable program is the question & answer time where our Inquisitors grill the presenters - in this case, QIC's David Brown and ASX's John Elfverson - on the topic - in this case, active vs passive management of international equities...