Investing with a manager when they’re winning is usually peak risk, but that’s what a lot of funds do. Meanwhile, passive investing remains “the elephant in the room”, even as it allows for greater freedom to invest in alpha-generating assets and strategies.
In the first half of 2022 the market fell almost as much as it did when Europe tumbled into World War Two. Then it reversed course – and famed bubble spotter Jeremy Grantham says a new artificial intelligence bubble is the cause.
Australia’s biggest super fund has slashed the headcount in its Melbourne-based global equities team as it prepares to build out a new crew in its rapidly expanding London office.
It’s tempting to think of the latest review into Your Future Your Super as just more regulatory tinkering, but experts think there’s a good chance it will give the industry a real solution to the unintended consequences of the performance test.
More and more of the global institutional investor set is turning to thematic strategies even as they resist the use of ESG benchmarks amidst questions about the methodologies that underpin them.
In private debt, you win by not losing, and key to not losing is good manager selection. But with a massive number of “me too” players entering the market, that’s getting harder.
The smart money at the US$10 trillion asset manager is in hedge funds, gold and inflation-linked bonds, while local investors in its exchange-traded products are bargain hunting in China.
Australia’s biggest super fund is set to increase its investment in the UK to around $35 billion by 2030 and expand its already 100-strong on the ground presence in Kings Cross.
When is a bubble not a bubble? When traditional monetary transmission mechanisms are disintermediated by private credit. Meanwhile, a decent chunk of so-called ‘alternatives’ are just beta in a low-vol wrapper.
The return of the Future Fund to active equity management has seen it dip its toes into Japanese equities as decades of low growth and corporate stagnation comes to an end.
