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During 2020, G-REITs experienced a once in a generation demand shock as many parts of the global economy were effectively shut down or endured severe restrictions on social mobility. Traditional property sectors such as office, discretionary retail and hotels faced significant challenges. But there were many winners - logistics property, data centres, cell towers, self-storage, and single-family rental actually saw demand and return profiles improve through the pandemic. With the vaccine roll-out progressing, G-REITs offer both cyclical and secular investment opportunities. The diversity within the G-REIT universe coupled with the liquidity of listed markets enables nimble investors to efficiently reallocate capital as risk/return outlooks change. Despite significant challenges during Covid, G-REIT earnings were more resilient than broader equities during the pandemic yet experienced some of their worst relative performance in decades. With new building supply and REIT balance sheets in good shape, G-REITs are well positioned as economies reopen and demand returns. Going back to the drawing board, now is the time for G-REITs.

Believe in sustainable investing or not, investors in today’s markets need to understand the impact it’s having on investment returns and portfolio construction. New opportunities abound and may drive macro economics, while access to early stage opportunities is driving investor demand, and markets are already trading on future outcomes. Going back to the drawing board, those that seize the initiative will thrive as the capital markets stand on the cusp of a transformation to an ESG world.

The days when investors and corporate decision-makers could succeed without much understanding of geopolitics are over. Portfolio construction practitioners must stop relying on news flow for their political analysis, and instead go back to the drawing board and focus systematically on the constraints facing global policymakers, in order to successfully extract the implications for portfolios.

Information technology infrastructure used to be complex, cumbersome and expensive. Today, scale-as-a-service cloud computing platforms allow companies – both large and small – to get their IT infrastructure up and running in minutes. Over the next decade, the growing use of such platforms by innovative start-ups will have profound implications for the global economy. As a result, practitioners need to go back to the drawing board, to revisit their assumptions on which companies will thrive, in a highly disruptive environment.

The US, Australia and their allies have long depended on global "rules of the game" for their major companies and sectors to flourish. Australia and the US will have to accept that China will play an ever greater role shaping these rules.

Ngaire Woods | 1 comment | 0.50 CE

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. This page takes you to the Markets Summit 2021 Critical Issues Forum (plenary) livestream.

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. This page takes you to the Markets Summit 2021 Critical Issues Forum (plenary) livestream.

As a tumultuous 2020 neared its end, the clouds of uncertainty appeared to be parting. Successful vaccine trials raised hopes that the Covid-19 pandemic would soon be over, the US election result promised a more geopolitical- and market-friendly presidency and government, and rebounding investor confidence fuelled a dramatic rotation into value stocks. Yet that confidence is already being tested in 2021 as new Covid variants take hold, doubts emerge about the efficacy of vaccinations, and the Democrats’ Senate win stirs fears of an aggressive spending, taxation, and regulatory agenda that’s not favourable to business. The geopolitical, macroeconomic and corporate outlook remains unclear, yet stock markets continue to climb this wall of worry. It is time to pause, reflect and go back to the drawing board!

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. This page takes you to the Markets Summit 2021 Special Interests Forum (elective) room 1 livestream.

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. This page takes you to the Markets Summit 2021 Special Interests Forum (elective) room 3 livestream.

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. This page takes you to the Markets Summit 2021 Special Interests Forum (elective) Room 5 livestream.

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. This page takes you to the Markets Summit 2021 Special Interests Forum (elective) room 2 livestream.

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. This page takes you to the Markets Summit 2021 Special Interests Forum (elective) Room 4 livestream.

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. The geopolitical, macroeconomic and corporate outlook remains unclear, yet stock markets continue to climb this wall of worry. It is time to pause, reflect and go back to the drawing board! Markets Summit will help you better understand the key drivers of and outlook for the markets (geopolitical, economic and asset class), and the opportunities and risks ahead, on a three- to five-year view, to aid your search for return and to help you build better quality investor portfolios.

Covid-19 has offered some tough but useful lessons about governance. Many wealthy countries have not managed the crisis as well as many poorer and vulnerable countries.

Established in 2009, Portfolio Construction Forum Markets Summit is THE investment markets scene setter of the year. The geopolitical, macroeconomic and corporate outlook remains unclear, yet stock markets continue to climb this wall of worry. It is time to pause, reflect and go back to the drawing board! Markets Summit will help you better understand the key drivers of and outlook for the markets (geopolitical, economic and asset class), and the opportunities and risks ahead, on a three- to five-year view, to aid your search for return and to help you build better quality investor portfolios.