It’s a narrow path to a Goldilocks financial environment with steep drops on either side. Should markets tumble off the edge, big investors could cast their eyes back over macro hedge funds, long-short strategies and gold.
The $13 billion Mine Super might have had Chant West’s top performing growth option for the calendar year, but CIO Seamus Collins questions whether many default growth products are doing enough for young members who are “temporally diversified”.
The market “ran hard” in the last quarter of 2023 and so did Australia’s sovereign wealth fund, making a cool $15.6 billion for the calendar year even as it effected sweeping changes to the portfolio.
The CIO of the $10 billion Australian Ethical wants to triple its funds under management by 2030. Getting on that growth trajectory could mean offshore partnerships or acquisitions to augment its in-house investment capabilities.
Super funds rode the late 2023 risk rally to spectacular effect, with the $13 billion Mine Super first in Chant West’s calendar year league table and a host of other small funds also making the top 10.
The asset consultant’s strategy of shopping its services to the demanding not-for-profit sector is paying off, with Uniting Financial Services retaining it for portfolio construction, manager research and ESG advice.
Interest rates aren’t going back to what the current generation of investors consider ‘normal’ anytime soon, according to Oaktree’s Howard Marks, and different strategies will outperform in the years to come.
The Magnificent Seven stocks have investors sweating market concentration, but throughout history that concentration has been the norm. All the game is still in the few.
Incoming populist leaders unleashing “incoherent” policies could shake markets, according to Colonial First State CIO Jonathan Armitage, while investors with dry powder on hand stand to win big as distressed selling takes hold in private equity and infrastructure.
Major moves in custody and investment internalisation were ISN’s biggest stories of 2023, but hard-headed analysis of retirement risk and credit quality pulled plenty of eyeballs too.
