Uncertainty has returned to the market after a bumper 2020, fuelled by persistent inflation and a pandemic that never really went away. But in its latest alternatives outlook, JPMorgan warns that investors aren’t seeing the forest for the trees. “Up close, the “trees” in the 2022 outlook are clear,” writes Anton Pil, global head of…
Larry Fink wants to make capitalism a force for good. A new proxy advice initiative could be one step in the right direction. Stakeholder capitalism is not about politics,” writes BlackRock CEO Larry Fink in his 2022 letter to CEOs. in his It is not a social or ideological agenda. It is not “woke.” It is…
Chalk one up for the old guys: a new study has found that, where funds management is concerned, age is correlated with both performance and persistence. “The most consistent result from our estimates of the cross-sectional relationship between manager characteristics and manager skill… are that accumulated wisdom, however this is proxied, has a positive relationship…
A storm has hit global equity markets. But investors should ignore the blood on the floor and focus instead on the big structural changes that will underpin earnings for decades to come. “The storm that’s hit Australian equity markets in the last couple of days is a storm we’ve been sitting in for the best…
Frontier Advisors has nabbed a contract with Western Australia’s Government Employee’s Superannuation Board (GESB). Frontier Advisors has won a $12.2 million multi-year contract with GESB, replacing incumbent consultant JANA Investment Advisers. Frontier will provide “tailored investment advice to help the Government Employees Superannuation Fund meet its investment objectives; insights on financial market opportunities and risks;…
As the retirement product race heats up in superannuation, funds and advisers need to confront a simple fact: people will live a lot longer than they think. Average life expectancy remains the main metric for determining the planning horizons for retirees. But research from the Actuaries Institute of Australia found that the tools used by…
Despite the popularity of that old adage, it’s never as simple as “buy low, sell high”. But if it’s not true, what are investors to do? “Everyone is familiar with the old saw that’s supposed to capture investing’s basic proposition: “buy low, sell high”,” writes Oaktree Capital founder Howard Marks in his latest memo, ‘Selling…
Despite their surging popularity, risks lurk within illiquid assets that put member outcomes and portfolio quality at risk – and there’s little regulation for handling them. Illiquid assets – anything from infrastructure and commercial property to venture capital and private equity – are experiencing a surge in popularity as institutional investors face down a future…
Jeremy Grantham believes the “superbubble” he’s been warning about for years is now on the brink of collapse – and that the “wild rumpus” can begin at any time. Calling the collapse of a market bubble is anybody’s game. One needs only to know that it exists – something now patently obvious to any investor…
In a world of concept stocks and near-meaningless valuation metrics, the trick to beating the market might well be ignoring it. “Hedge funds aren’t supposed to be a high-risk proposition,” says Omkar Joshi, principal and portfolio manager of Opal Capital Management. “They do get cast in a bad light, and that’s because there’s been lots…
