583 results found

A simple ratchet-style "safe" withdrawal rate approach, where spending is increased by 10% any time the portfolio rises more than 50% above its starting value, beats the traditional 4% rule, generating equal or better retirement spending, even while being conservative enough to not require a spending cut in the event of a market pullback in the future.

The classic 4% rule holds withdrawals at 4% of the initial value of the portfolio at retirement. A great deal of recent research has focused on strategies that adjust withdrawals depending on investment experience.

Joe Tomlinson | 0.75 CE

Will low interest rates be with us for decades? Or are higher rates ahead? Our Academy panel argues the case for "lower for longer" versus "back to higher" - and the implications for portfolios.

Does smart beta deserve the attention it is getting? I can't see how it's possible to have more diversification benefit using a factor approach to constructing portfolios than any other approach.

Michael Edesess | 0.75 CE

The surprising result of a recent study is that the "conventional" view that earnings rise steadily (above inflation) throughout our careers is not accurate. Good spending habits established early on can make an astounding difference to wealth over a lifetime.

Michael Kitces | 0.50 CE

Divergences in global economic and policy outcomes have important implications for markets around the world. This policy divergence has directly influenced asset prices across the globe with implications for stocks, bonds and currency markets.

China now has to deal with a massive excess supply of property… This is unlikely to be “just another property cycle” in China. The bursting of China’s property bubble poses a major risk to both the country’s stability and the global economy.

If you have a DIMS license, you are required to stress test portfolios. Here are two practical approaches to stress testing, and the strengths and weaknesses of each to help you build your approach to portfolio stress testing.

Tim Farrelly | 0.75 CE

Portfolio construction should focus on three risk buckets – beta, smart beta, and alpha. If not, you run the risk of creating a poorly diversified (that is, over diversified) portfolio – and, worse, a portfolio that costs far more than it should.

Michael Furey | 0.75 CE

Rather than large, liquid companies with significant global revenue bases which dominate benchmark allocations, investors should seek exposure to India’s surging local demand…

When combining managers together to form a multi-manager global equity portfolio, investors should still aim to keep active share relatively high.

uilding NZ fixed interest portfolios is harder than it has ever been… Portfolios need to be constructed for the specific needs of clients, which will typically be a combination of liquidity, income, quality, and diversification

At the coal face, engagement between company boards and institutional shareholders can achieve meaningful improvements for all investors. Perseverance and commitment are essential.

The diverse range of quality small cap companies with recurring earnings and growing dividend yields offer investors essential risk diversification and should be incorporated into portfolios.

Investors will need to hunt out alternative sources of yield to meet their investment objectives. All is not lost. Yield can be preserved in a low yield world but investors need to be aware of the risks and trade-offs.

What return premia - if any - are attached to different types of investment risk? And just how reliable are those premia are in practice? Can the risks be diversified?

Tim Farrelly | 0.50 CE

It’s possible, or more likely probable, that for future generations, our money will run out before our body does. This means that our historical models of accumulation and decumulation will not work for future generations.

As we all brace for lift-off in the key US Federal funds rate, a robust, top-down macro perspective will be even more critical to the success of portfolios than ever.

Jonathan Pain | 0.50 CE

Our Symposium 2015 debated their high conviction ideas on the drivers of, and medium-term outlook for, the New Zealand economy.

0.50 CE

Economic growth has had a lot of bad press recently. But on closer inspection, the objections typically leveled against growth do not stand up to empirical scrutiny.

Oliver Hartwich | 0.50 CE