Today Morphic published the most recent in our Perspectives Series. The series aims to look at topics that we believe are important to investors, but may not be fully appreciated. Prior topics have included "Stock Indices as a worthy competitor" and "Thoughts on the next crisis". This one looks at the somewhat obscure area of benchmark construction. Whilst obscure, it is extremely important to investors: Investors buying into locally produced global funds and many of the ones sold from offshore into Australia may not be getting the exposure they think. They will be largely getting USA exposure with some Europe and Japan in many cases. This anomaly is due to the nature of historical benchmark construction of what is in "the World" and what isn't from the 1980's. Please click here for the full article: (VIEW LINK)