Collections
Patrick Poke

While speculating on the future direction of interest rates, currencies, and monetary policy can generate great headlines, it often raises the question; ‘what does this mean for investors?’ Understanding the implications of the macro environment drives asset allocation decisions, which according to research by Robert Ibbotson and Paul Kaplan, accounts... Show More

Collections
Patrick Poke

For more than a year now, fears of a housing-led recession have been building in Australia. First, auction clearances fell in a hole, then house price declines, falling credit growth and building approvals, and finally, unemployment began to rise. A month ago, further falls seemed inevitable. Then Australian woke up... Show More

Asset Allocation
Scott Haslem

This month we provide an update on how our high and ultra-high-net-worth, family office and not-for-profit clients are invested. Importantly, we also take a look at how they have managed their portfolios through recent volatility—in particular, through the sharp correction in risk at the end of 2018 and the subsequent... Show More

Asset Allocation
Scott Haslem

Investors typically have on hand a long list of concerns arguing against investing in emerging markets. These concerns often centre on the ability to regather capital once invested, the extent of government intervention, the ranking of investors’ interests and rights, issues of corporate governance, as well as the inherent volatility... Show More

Scott Haslem

A masterly retreat can itself be a victory, or so penned American author Norman Peale. And key global central banks have spent the past two months in retreat, signalling pauses or delays to both rate rises and balance sheet unwinds. This has underpinned a strong start to equity markets in... Show More

Macro
Scott Haslem

Peering in the rear-view mirror, 2018 could be characterised by slowing global growth; central bank policy tightening; and escalating geo-political risk. These are not features typical of a strong performance in risk markets. Yet for most of last year, markets climbed this wall of worry. Show More

Scott Haslem

October has proved to be a difficult month for risk assets. Global equities have fallen by over 9% led by the US (-9%) and Europe (-7%), with US technology particularly bearing the brunt of the weakness (-12%). This follows our decision to trim risk last month, cutting our overweight to... Show More

Scott Haslem

The past month has delivered little resolution to the key questions plaguing investors as the cycle matures. Can strong global growth be sustained beyond this year, and inflation and wage pressures stay benign, allowing risk markets to grind ever higher? Alternatively, will tightening jobs markets foster an unexpected lift in... Show More

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