portfolio construction

The idea that higher valuations necessitate more heroic assumptions, or lower future return expectations, to justify holding a position is an investing truism. But...

For most, it is almost irresistible to stay out of markets when they continue to rise against all odds. But Anthony Murphy, CEO of Lucerne Investment Partners believes...

A lot is spoken about when it comes to correlation. We hope to break this down and explain what some of the investment jargon means, look at mistakes even the most...

They say justice is slow as well as blind: ‘Justice limps along but gets there in the end’ - Gabriel Garcia Marquez. Trends in financial markets can be like that,...

Resilience /rɪˈzɪlɪəns/ noun 1. The capacity to recover quickly from difficulties; toughness. “the often remarkable resilience of so many Australian institutions” 2....

Many readers of Livewire will be either managing their own portfolios and want to be informed, or they have outsourced the management of their portfolios and are...

The utilisation of multi-manager frameworks is often criticised as detracting from returns. However, focusing on return maximisation ignores the inherent uncertainty...

For Marcus Padley and his investors, it’s been a remarkably good six months during a year in which markets are straddling the boundaries of health, economic and...

"It does feel like FOMO is back": Those few words encapsulate just how worried Rhett Kessler, the CIO of Pengana Capital, is about markets right now. Sentiment has...

With exploding volatility, extensive business disruption, and unprecedented levels of uncertainty, it is more important than ever for financial planners and investors...

One of the key strategies employed within fixed income portfolios to add value is the maximisation of ‘carry and roll’. The successful utilisation of this strategy...

Periods of market volatility often mean investors question the construction of their portfolios. Using a core-satellite investment approach has traditionally been...

With interest rates at all-time lows, there is an increased focus by investors on how to enhance returns without assuming ‘excessive levels’ of interest rate or credit...

We have seen several highly-regarded equity commentators recently justify stretched equity market valuations based on depressed government bond yields. Magellan, a...

Last week I had the pleasure of presenting on asset allocation at the Portfolio Construction Forum in Sydney. The session looked at three alternative economic...

We consider three different investment managers that vary by dependence on the level of quantitative analysis and implementation. Each methodology has their own...

When building a balanced investment portfolio, most investors seek exposure to the four main asset classes – equities, fixed income, property, and cash. One big...

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...

It has been an incredibly ugly period for funds management in recent months, albeit a very informative one for their investors. Unfortunately, the market environment...