The CIMA CFA Challenge is a new opportunity for CFA charterholders to take an accelerated pathway to earn the globally-recognised Certified Investment Management Analyst® (CIMA®) designation. Registration closes 31 December 2021.
A high equity income strategy tailored for retirees is a core solution for providing better retirement outcomes, maximising income while leaving capital intact.
When markets are exuberant, it is difficult to see - let alone act - against the hubris. When markets are down in the dumps, it is difficult to see past the misery. A reductive macro-economic framework may help.
There are strong behavioural biases that attract investors to complex strategies. However, introducing complexity will, on average, diminish the odds of success and detract from returns.
Australian cash rates will stay low for decades. Low interest rates mean high asset prices, which means much lower returns ahead. Our client communications must be in tune with this new environment.
Quantitative easing has inflated the price and risk of asset classes. Private debt prices in this risk and offers investors the capital protection they deserve.
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-manager, mulit-asset portfolios, whether practitioner or advocate.
The farrelly's Dynamic Asset Allocation Handbook features editorial exploring investment strategy "hot topics", farrelly's long-term forecasts for asset classes, a detailed review of the long-term forecasts for an individual asset class (rotating across asset classes each quarter) and three asset allocation models to assist with implementation...
Welcome to the farrelly's Dynamic Asset Allocation New Zealand subscriber only area...
The farrelly's Dynamic Asset Allocation Handbook features editorial exploring investment strategy "hot topics", farrelly's long-term forecasts for asset classes, a detailed review of the long-term forecasts for an individual asset class (rotating across asset classes each quarter) and three asset allocation models to assist with implementation...
Welcome to the farrelly's Dynamic Asset Allocation Australian subscriber only area...
farrelly's Dynamic Asset Allocation Handbook (Sep 2021) (on-demand) has been assessed and accredited by Portfolio Construction Forum for Continuing Education (CE/CPD) hours. Those who attend online on-demand must complete a CE Quiz to receive CE/CPD accreditation.
farrelly's Investment Strategy provides subscription and consulting tools and services to enable a dynamic, forward-looking approach to asset allocation, a key driver of quality portfolio construction and quality results for investors...
In the 1990s and 2000s, investors were largely able to ignore the macro picture. But macro forces have reawakened and matter more than ever for portfolios to succeed in meeting client goals in the years ahead.
With attractive valuations and global investors underweight the asset class, the case for a dedicated Emerging Market Debt allocation is growing ever stronger.
Private debt essential to modern investment portfolios. If the end objective is an attractive risk-adjusted return, then private debt is the means to get there.
We need to consider an expanded set of solutions including hedge funds and private markets so portfolios are truly the ends to the means.
Portfolio construction practitioners have access to a broader array of investment research, strategies and tools than ever before - yet obstacles to meeting clients' long-term financial goals are equally numerous.
There is no point in building wealth for the future if that future is one of frequent and catastrophic climate events that undermine our way of life.
In retirement, investors seek to convert their savings into a sustainable salary replacement with access to growing capital. The metric for success must also shift to accommodate these trade-offs.
Total return portfolios can support retiree spending strategies while removing the temptation to increase risk - in the end, producing better outcomes for retirees.
As the Baby Boomer generation continues to transition to retirement and life expectancies rise, portfolio construction practitioners must ensure retirement solutions meet client goals right to the end of their days.
Companies that are solving the world's greatest challenges - environmental or humanitarian – often have near term imperfections that see them starved of capital. A pragmatic approach embraces imperfections and focusses on the potential for positive societal impact.
Three economists describe and debate three plausible, forward-looking economic and market scenarios that have a reasonable probability of occurring during the next two to three years.
Infrastructure plays a key role in the move towards decarbonisation and net-zero emissions. Government policy support and the unprecedented amount of capital required to achieve these targets should change how you think about investing in infrastructure.
Capital markets will be shaped profoundly as the economy transitions from a depletive economic model to a more sustainable one. Such transitions will inevitably create winners and losers.
Our hypothetical Investment Committee considers three relevant economic and market scenarios which have a reasonable probability of occurring, and the asset allocation implications of each.
Investors should consider the real-world impact of their investments and build portfolios aligned with the UN Sustainable Development Goals as a means to building clients' wealth, and improving well-being.
Investors should view long biased, long short equity as a core solution, dedicating a meaningful slice to portfolios, rather than being constrained by traditional equity/debt buckets.
There are now a plethora of funds that aim to account for ESG issues based on different philosophies and processes. Passive screening and divestment approaches are inefficient ways of bringing about real change.
With the individual, business and economic benefits on offer from a more ethical Australia, the business case for change is a sound one. Strengthening ethics is simply a must for a better future.
Established in 2002, Strategies Conference has earned a reputation as THE portfolio construction strategies conference of the year. The program is designed and curated by our specialist, experienced and independent team and features an exceptional Faculty of 50+ leading investment thinkers - portfolio managers, CIOs, senior investment analysts, investment strategists, economists, independent consultants and practitioners - from around the world. Each offers his/her best, high conviction ideas around contemporary and emerging portfolio constructions issues and strategies, in the context of the program theme, “The end justifies the means!”.
Established in 2002, Strategies Conference has earned a reputation as THE portfolio construction strategies conference of the year. The program is designed and curated by our specialist, experienced and independent team and features an exceptional Faculty of 50+ leading investment thinkers - portfolio managers, CIOs, senior investment analysts, investment strategists, economists, independent consultants and practitioners - from around the world. Each offers his/her best, high conviction ideas around contemporary and emerging portfolio constructions issues and strategies, in the context of the program theme, “The end justifies the means!”.
Established in 2002, Strategies Conference has earned a reputation as THE portfolio construction strategies conference of the year. The program is designed and curated by our specialist, experienced and independent team and features an exceptional Faculty of 50+ leading investment thinkers - portfolio managers, CIOs, senior investment analysts, investment strategists, economists, independent consultants and practitioners - from around the world. Each offers his/her best, high conviction ideas around contemporary and emerging portfolio constructions issues and strategies, in the context of the program theme, “The end justifies the means!”.
Established in 2002, Strategies Conference is THE portfolio construction strategies conference of the year. Presented each August, the program features 50+ carefully selected leading investment thinkers who will challenge and refresh your portfolio construction thinking by debating contemporary and emerging portfolio construction strategies, for you to consider applying in practice to build better quality portfolios.
With several catalysts impacting on the Australian advice landscape, we are seeing a resurgence back to centrally developed investment portfolio construction solutions - but the approach differs to history.
When constructing investment portfolios, one of the first questions is the objective - generally, the desired return. But ES investors have a dual investment objective. So which takes precedence?
Emotions generated in the media by way of the words used in turn influence investors decisions, providing the foundation for a highly profitable investment process.
farrelly's Dynamic Asset Allocation Handbook (Jun 2021) has been assessed and accredited by Portfolio Construction Forum for Continuing Education (CE/CPD) hours. Those who attend online on-demand must complete a CE Quiz to receive CE/CPD accreditation.
Target date funds first became popular as a MySuper option. Leaving aside whether target date funds are a good idea in the first place, what these two papers highlight is a lack of thought in their design.
While the retirement income system is designed to accommodate all individuals, the real test is its adequacy for the poor. These two papers address this issue for both Australia and the US.
With cash currently offering virtually no return, the question arises as to whether there is any reason to hold it as an investment.
In a low return environment, investors just have to accept more risk in order to meet their goals? On the face of it, this seems self evident and may even have a large element of truth. But, for many, it may be a very, very poor strategy.
The farrelly's Dynamic Asset Allocation Handbook features editorial exploring investment strategy "hot topics", farrelly's long-term forecasts for asset classes, a detailed review of the long-term forecasts for an individual asset class (rotating across asset classes each quarter) and three asset allocation models to assist with implementation...
Our Markets Summit program kicks off with a video retrospective of the key events of the prior year...
The herculean tug of war between stronger economic growth and higher bond yields will be the defining battleground of 2021 and will be accompanied by violent and rapid-fire recalibrations of relative valuations.
Our diverse panel debated which of the high-conviction propositions they heard at Markets Summit 2021 resonated most strongly, which they disagreed with most - and the portfolio construction implications.
The energy transition has the potential to be as transformative for the world economy and geopolitical landscape as the digital revolution has been since the 1980s.
Rather than accepting lower returns for liquidity, investors should go back to the drawing board and re-assess their need for daily liquidity.
Often underrepresented in investor portfolios due to concerns around liquidity, private equity investing with a truly hands-on approach allows active investors to maximise their capital growth potential.
The 60/40 balanced portfolio needs to be “stretched” or redesigned, to mitigate the impact of low yields on overall portfolio risk and return. Investors need to make their equity allocation work harder and consider new diversifiers.
Covid-accelerated trends - including digitalisation, geopolitical tension and the impact of ESG on the cost of capital - are structural and divergence within equity markets could increase.
With the official cash rate near zero, it's time to head back to the drawing board to find a more consistent source of income. Private debt provides a compelling alternative source of income in a portfolio.
The consensus view that US equities are in a bubble is overblown. Go back to the drawing board when it comes to your views on US valuations - because this time IS different.
Pent up consumer demand, fiscal stimulus and accommodative monetary policy set the stage for a sharp global recovery. It is back to the drawing board in a high growth environment.
Structural factors will ensure that the cash rate cannot rise over the medium term, resulting in negligible cash returns. A core fixed income exposure consisting of Australian government bonds will outperform cash over the long term.
The illiquidity premium offers strong value over the cyclical horizon. A combination of interest rate, credit and illiquidity risks provide diversified fixed income exposures with attractive return potential.
The Covid-19 pandemic has accelerated profound shifts in how economies and societies operate and is transforming macroeconomic policy, geopolitics and sustainability.
During 2020, G-REITs experienced a once in a generation demand shock. With new building supply and REIT balance sheets in good shape, G-REITs are well positioned as economies reopen and demand returns. Now is the time for G-REITs.
It's time to construct portfolios with investment strategies designed to advance humankind towards a global sustainable economy, a just society, and a better world.
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, this will have profound implications for the global economy.
Jonathan Pain, Author of The Pain Report, is a regular key note presenter at Portfolio Construction Forum's professional development programs. Over the years, he has debuted new investment theses and challenged delegates about how to build better quality investor portfolios...
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.
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.
This lecture instructs farrelly's subscribers on on the principles of managing currency in portfolios.
This lecture instructs farrelly's subscribers on the foundations of asset allocation in three parts - key principles of asset allocation, optimisation and how to define an asset class.