1. Does fixed income still diversify portfolio risk?

    Re-evaluate the conventional assumption that owning government bonds is inherently defensive and risk diversifying. At best, it's an expensive choice and at worst, it won't work.

    Gopi Karunakaran | 01-08-18 | More
  2. Geopolitics to the fore! Do nothing...

    There is quite a bit happening on the geopolitical front right now to concern markets. With all this uncertainty, the best thing to do is nothing. Sit tight and enjoy the show.

    Tim Farrelly | 09-07-18 | More
  3. 2018 Strategies Conference - overview & registration

    PortfolioConstruction Forum Strategies Conference has gained a reputation as THE investment conference of the year. This year's theme is "Future-proof portfolios?". Strategies Conference will facilitate debate on a selection of contemporary and emerging portfolio construction strategies, with particular emphasis on the challenges of building future-proof portfolios.

    05-07-18 | More
  4. Passive investing - reshaping the investment landscape

    Game changer or new danger? The rise of passive funds throughout this decade is recalibrating the traditional core-satellite portfolio model.

    Amin Rajan | 26-06-18 | More
  5. Forum Fodder 22 June 2018

    This week in Forum Fodder: Susan Lund – a corporate debt bubble?; Aaron Minney - most investors need to eat capital; Michael Furey - Investment faux pas; Tom Switzer - Don’t write off America; Douglas Isles - Beware the trifecta of desire

    Graham Rich, Publisher, PortfolioConstruction Forum | 22-06-18 | More
  6. Most retirees need to eat capital

    There is often confusion about income in retirement. In most cases, some income measures won't give retirees enough to spend, resulting in a lower standard of living than they could be enjoying.

    Aaron Minney | 19-06-18 | 1 comment | More
  7. farrelly's Investment Strategy (Australia)

    Welcome to the farrelly's Dynamic Asset Allocation Australian subscriber only area...

    09-06-18 | More
  8. farrelly's Dynamic Asset Allocation Handbook (NZ Edition)

    The quarterly Dynamic Asset Allocation is published electronically, and emailed to subscribers in early March, June, September, and December. It features farrelly's Editorial; long-term outlook for markets; Forecast in Focus; and three different approaches to Implementation...

    09-06-18 | More
  9. farrelly's Investment Strategy (NZ)

    Welcome to the farrelly's Dynamic Asset Allocation NZ subscriber-only area...

    09-06-18 | More
  10. farrelly's Dynamic Asset Allocation Handbook (Australian Edition)

    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...

    09-06-18 | More
  11. Will longevity products now become attractive?

    New means test rules for pooled lifetime income products, together with development of CIPRs, have the potential to radically alter Australians' views on retirement income products.

    David Knox | 30-05-18 | More
  12. Cash is the alternative asset class

    Many asset classes - such as real estate and infrastructure - face the same valuation headwinds as equities and bonds. Practitioners should consider using cash as the diversifier for multi-asset portfolios.

    Sonja Laud | 29-05-18 | More
  13. Markets creak as yields creep higher

    Calm returned to global stock markets in May. But investors should not be lulled into a false sense of security. Equities and bonds face considerable headwinds as the Fed continues to tighten.

    Brett Gillespie | 28-05-18 | More
  14. Masterclass NZ 2018 - resources

    Masterclass NZ is a post-graduate extension program focused on contemporary issues that are fundamental to building better quality portfolios. Each year, the one-day program features five research-based, active learning sessions.

    25-05-18 | More
  15. Research Review: More on momentum investing

    Eugene Fama described momentum investing as the one remaining market anomaly. A recent paper gives an explanation for it. Another shows it still offers high profits after implementation costs.

    Ron Bird | 11-05-18 | 1.00 CE | More
  16. The difference for advice in retirement

    Many baby boomers are retiring with decent super balances and need advice on spending their retirement savings appropriately. Consuming capital for a higher standard of living is, after all, what super is for!

    Aaron Minney | 09-05-18 | More
  17. The place of bonds in a low yield world

    Investors are increasingly questioning the continued relevance of bonds in their portfolios. But bonds offer enhanced diversification qualities during times of low growth, low inflation and market uncertainty.

    Dean Stewart | 03-05-18 | 0.75 CE | More
  18. From asset allocation to risk allocation

    Asset allocation is often regarded as the most important portfolio decision, with asset classes then populated by investments. But this two-step approach can an asset allocation and investment selection mismatch.

    Michael Furey | 01-05-18 | 2 comments | More
  19. Markets aren't pricing rates to revert to the old normal

    That's the view that Guy Debelle, Deputy Governor of the RBA, outlined in a recent speech. It's a timely warning - but what do we do with it? I think it depends on your investment time horizon, as do so many investment decisions.

    Tim Farrelly | 27-04-18 | More
  20. Policy blunders and currencies

    Nearly all recent initiatives of the Trump administration will prove to be macroeconomic blunders. The time has come to upgrade the credit quality of investment portfolios and to focus on the currencies of creditor countries.

    Robert Gay | 20-04-18 | 0.50 CE | More
  21. The misunderstanding of life expectancies

    As we consider the life expectancy of many clients, we should not be using any number in the 80s. A figure closer to 95 is both more realistic and provides a little buffer in case the individual lives longer than the average.

    David Knox | 18-04-18 | More
  22. Understanding how people spend their money in retirement

    A retiree's spending will change over time. However, changes in spending profile over time are often ignored when it comes to retirement income planning.

    Aaron Minney | 12-04-18 | 2 comments | More
  23. 2018 IMR Workshop

    The annual Investment Management Research Workshop showcases early stage research in the area of investments to a practitioner and academic audience. It is an initiative of the Investment Management Research Program which is presented by Portfolio Construction Forum, in collaboration with faculty of the University of Technology Sydney (UTS) Business School. The IMR Program succeeds the UTS Paul Woolley Centre.

    26-03-18 | More
  24. Revisiting the importance of investment returns in retirement

    About 30 years ago, Canadian researcher Don Ezra identified the ‘10/30/60’ rule - in retirement, 10% of income comes from contributions, 30% from earnings on investments before retirement, and 60% from investment earnings accrued after retirement. Does this rule still apply in Australia, given our current economic conditions?

    David Knox | 19-03-18 | 2 comments | More
  25. Diversification - what it is and is not

    The concept of diversification may seem to be second nature. However, some of its fundamentals are often misused and sometimes misrepresented.

    Michael Furey | 15-03-18 | 3 comments | More
  26. IMAC5.2o: Portfolio Theories & Models

    This lecture instructs IMAC candidates on the theoretical and empirical underpinnings of portfolio management, specifically in relation to how portfolios are designed and measured.

    David Gallagher | 06-03-18 | More
  27. 10 "fearless" predictions for 2018

    It is the time of the year when those in the forecasting business like to lay out our expectations for the coming year. Here are mine...

    Tim Farrelly | 18-01-18 | More
  28. Income layering: What? Why? When? & How?

    Income layering is a goals-based approach to building an investment portfolio that is likely to be beneficial to a wide range of retirees - especially those worried about how to sustain spending in the later stages of retirement.

    Aaron Minney | 10-01-18 | More