1. IMAC: Managing Currency in Portfolios

    This lecture instructs IMAC candidates on the drivers of currencies in the short and long term and different approaches to currency risk management for portfolios.

    Tim Farrelly | 26-02-19 | More
  2. Move over risk/return profiles - values define clients' needs

    Only by making the effort to understand and align investment beliefs with values can we get a sharper understanding of our clients' true objectives and provide solutions that will really meet their needs.

    Tassos Stassopoulos | 21-02-19 | 0.50 CE | More
  3. The heat is on - where investing meets investors

    Human beliefs, biases and behaviours are central to the behaviour of financial markets, causing financial and economic instability to persist.

    Pippa Malmgren | 20-02-19 | 0.50 CE | 1 comment | More
  4. The heat is on - where to from here?

    Hamish Douglass, Andrew Canobi, Brett Gillespie, Tim Farrelly, Charles Jamieson, Peter Kim, Stephen Miller, AJ Qualtieri, Randal Jenneke, and Thomas Vester convened to debate their Markets Summit 2019 key takeouts and the portfolio construction implications.

    Expert Panel | 19-02-19 | 1.25 CE | More
  5. Uncertainty requires more dynamism in delivering outcomes

    Few clients have the 20-year horizon required for today’s strategically-oriented models to become consistent with suggested outcomes, such as CPI+4%. This builds in a structural mismatch.

    Michael Kelly | 19-02-19 | 0.25 CE | More
  6. There will be no global recession in 2019 or 2020

    Investors are so focused on predicting the end of this economic cycle they have missed the fact that it simply won't. A recession will be avoided and the cycle will extend.

    Bob Michele | 19-02-19 | 0.25 CE | More
  7. Take your cues from the tide, invest with the flow

    It’s a Quantitative Tightening world and the tide is receding. QT appears set to continue in 2019 and in this more volatile environment, bonds should continue to perform well.

    Brett Lewthwaite | 19-02-19 | 0.25 CE | More
  8. Banks will act more as a cushion than cause in the next cycle

    Banks are a defensive fixed income investment. This may sound counterintuitive only a decade removed from the most prolific financial crisis of our lifetime.

    Attilio Qualtieri | 19-02-19 | 0.25 CE | More
  9. China is reforming, not in crisis

    Nearly a decade after one of the great debt binges of all time, Chinese economic growth and credit creation have slowed. Today, stimulus is being undertaken. This is not a crisis, this is reform.

    Julian McCormack | 19-02-19 | 0.25 CE | More
  10. Rotate to high grade defensive assets before the cycle ends

    As recessionary pressures continue to build, rotating portfolios toward high grade, defensive assets will prove to be a prescient asset allocation decision for investors.

    Charles Jamieson | 19-02-19 | 0.25 CE | More
  11. Follow emerging market fundamentals, not the front pages

    The vast majority of emerging market economies are fundamentally healthy and are being driven by broad thematics, not just evolving consumption patterns.

    Projit Chatterjee | 19-02-19 | 0.25 CE | More
  12. Listed infrastructure is the growth opportunity of the 2020s

    While infrastructure is known as a defensive asset class, it is set for enormous growth over coming decades, making it an attractive investment proposition for years to come.

    Sarah Shaw | 19-02-19 | 0.25 CE | More
  13. The New Neutral is a long-term global reality

    Recent central bank decisions have strengthened the conviction that the New Neutral is a global reality which will have long-term implications on investment decisions.

    Rob Mead | 19-02-19 | 0.25 CE | More
  14. Global high yield investing is a long-term income solution

    Global high yield corporate bonds represent an attractive asset class for investors searching for a diversified source of income.

    Adam Grotzinger | 19-02-19 | 0.25 CE | More
  15. The corporate bond outlook is more risk for less return

    The easy money in credit markets is now gone, leaving corporate bonds facing more risk for less return. Additionally, structural liquidity deterioration raises the black swan risk of a disorderly sell-off spilling over into other markets.

    Gopi Karunakaran | 19-02-19 | 0.25 CE | More
  16. Being the most trusted brand is essential in fiery times

    The best chance for survival among what were regarded as the most defensive of stocks is to be the biggest, most revered brand – or at least hold number second spot. Others will struggle and many will disappear.

    Vihari Ross | 19-02-19 | 0.25 CE | More
  17. Tail risks are becoming real risks for Australian equities

    The new normal is a world of higher systemic risk, which implies portfolio managers will need to dig more deeply into their tool kit of risk-understanding and mitigation techniques.

    Randal Jenneke | 19-02-19 | 0.25 CE | More
  18. Emerging market investing requires patience to succeed

    Returns in emerging market equities have been disappointing in recent years. But the stark rise of populism in the western world may actually present an opportunity for many emerging economies.

    Thomas Vester | 19-02-19 | 0.25 CE | More
  19. Europe will trigger the next global volatility event

    Slowing growth with extreme recession risk, coupled with a combative populist government, may well see Italy trigger a crisis in European debt and the currency which will cause a substantial global volatility event.

    Vimal Gor | 19-02-19 | 0.25 CE | More
  20. Populism requires a more active approach to investing

    Rates are normalising, populism is on the rise, technology is driving disruption. But not every perceived winner will win and not every perceived loser will be destroyed forever.

    Jacob Mitchell | 19-02-19 | 0.25 CE | More
  21. Stay invested but prepare for volatility

    On some measures, global equity valuations are the most attractive in several years. Risks, however, have certainly increased and in many cases are more difficult to frame.

    Ron Temple | 19-02-19 | 0.25 CE | More
  22. The post GFC 'cheap money' bubbles are popping

    For most of the last 10 years, the world's major central banks have been creating significant amounts of cheap money, inflating several bubbles. Those bubbles are beginning to burst.

    Chris Watling | 19-02-19 | 0.25 CE | More
  23. Investors need a new measure of economic growth

    Much macroeconomic analysis is very narrow in scope. ESG factors are ignored all together. A new indicator of national progress measures economic dynamism and progress on meeting ESG goals.

    Stephanie Kelly | 19-02-19 | 0.25 CE | More
  24. The world has too much debt

    Two of the defining characteristics of the global investment landscape over the last 30 years are being reversed - globalisation (by economic nationalism) and finalisation (as we've reached peak debt).

    Jonathan Pain | 19-02-19 | 0.50 CE | More
  25. IMAC: Equity Investments

    This lecture instructs IMAC candidates on the principles of equity securities and analysis including: fundamental investing and analysis; industry analysis; corporate analysis; quantitative investing; momentum investing; value/contrarian investing; and, technical analysis.

    Ron Bird | 18-02-19 | More
  26. IMAC: Options, Futures & Other Derivative Investments

    This lecture instructs IMAC candidates on: the primary roles of derivatives in investment portfolios; the difference between futures and forwards contracts and options; the risk and return characteristics of options; risk management strategies using derivatives; return enhancement strategies using derivatives; and, option pricing.

    Nadima El-Hassan | 18-02-19 | More
  27. IMAC: International Investing

    This lecture instructs IMAC candidates on how to make decisions about a portfolio's market and currency exposure, and to determine the impact of those decisions on portfolio performance. To various extents, these topics are considered in other IMAC lectures (currency management, asset allocation, performance measurement) and hence this lecture fills the gaps.

    Ron Bird | 18-02-19 | More
  28. IMAC: Portfolio Risk Management Strategies

    This lecture instructs IMAC candidates on: the multifactor approach to portfolio risk management; sources of risk that may be identified and managed within a portfolio; how risk may be managed using futures and options; Value-at-Risk as a measure of portfolio downside risk; Risk budgeting and Value-at-Risk; and how risk may be decomposed using value-at-risk to measure a portfolio’s overall risk.

    Nadima El-Hassan | 18-02-19 | More
  29. Reflections on the yield curve: Is this time different?

    Yes, it’s possible that we enter a recession in the not too distant future. But the best curve to forecast recessions still has a positive slope.

    Payden & Rygel | 05-02-19 | More
  30. Is 2019 the year the bubble bursts?

    We see three scenarios for 2019 - is it a benign outlook like 2016? A bubble bursting like 2000? Or will inflation accelerate?

    Brett Gillespie | 29-01-19 | More