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Benchmark performance: the real passive winners

Passive funds have built momentum on the win-win premise of low-cost market benchmarked products but a new study confirms the undoubted winners of the seemingly unstoppable trend: indexers. Global index providers saw an aggregate year-on-year revenue increase of almost a quarter in 2021 as demand for passive products, notably exchange-traded funds (ETFs), soared over the…

David Chaplin | 25th May 2022 | More
Value back on top in a market in shock

Value investors have staged their long-prophesied comeback during the highly volatile start to the year. But questions remain about whether this performance will be prolonged. March stands out as being one of the most difficult periods for investors in a generation. On the one hand, bond markets sent fixed income to its worst return in…

Drew Meredith | 13th May 2022 | More
‘Nuance gets ignored’: why exclusion won’t help super on climate

The emissions intensity of the ASX has some investors with a home country bias looking for an exclusionary approach. But decarbonising Aussie equities isn’t as simple as ditching them. Compared to other indices, the ASX is dirty. A large number of listed companies in pollutive industries like resources and energy means its emissions intensity is…

Lachlan Maddock | 13th May 2022 | More
  • Russia a ‘sideshow’ in main EM game

    Investors and their fund managers have dumped Russian holdings in recent weeks amid worsening horror at the invasion of Ukraine. But active managers could lessen the blow for investors through new opportunities on the other side of a Russian trade. For Ninety One’s emerging markets team, Russia is an “ugly sideshow” to the main investment…

    Greg Bright | 20th Apr 2022 | More
    MSCI buys commercial property research firm

    The increasingly expansionary MSCI Group is to buy Real Capital Analytics (RCA), a property research firm. The Australian operation is earmarked for strong growth. MSCI announced last week (August 3) that it would pay US$950 million (A$1.3 billion) for RCA, which was founded in the US a little over 20 years ago, in 2000, by…

    Greg Bright | 6th Aug 2021 | More
    GMO abandons all hope, almost

    GMO has released its latest borderline-apocalyptic seven-year forecast for stocks and bonds as it warns clients to “concentrate assets where the bubble ain’t”. GMO’s extraordinarily bearish forecasts predict a negative annual real return over seven years across the majority of both stocks and bonds, with only emerging markets value stocks getting a positive, if slim,…

    Lachlan Maddock | 25th Jun 2021 | More
  • Fidante’s Ox Capital the new home for top manager

    Joseph Lai, the top-performing Asia equities manager who resigned from Platinum Asset Management on December 29 last year, is set to join Fidante’s new boutique, Ox Capital. He will reportedly link up with another long-term emerging markets specialist, Doug Huey. The two had worked together at Platinum, where Huey was an investment analyst, prior to…

    Greg Bright | 25th Jun 2021 | More
    Mercer’s case for separate China mandates

    The discussion about the best way to build and manage an appropriate exposure to China is becoming more urgent. Mercer has helped investors with some new research. In a paper entitled: ‘Positioning Your Portfolio for the Future of Emerging Markets – the case for a dedicated China equity allocation’ the global advisory and funds management…

    Greg Bright | 11th Jun 2021 | More
  • Bottom-up quality test for truly global equities

    There is growing concern about the relevance of broad market indices, especially due to their poor reflection of China’s growth. The main concern should probably be managers who hug them. Whether or not it’s the index producers to blame, or managers who are not as active as they claim, an interesting angle on what is…

    Greg Bright | 7th May 2021 | More
    NZ gags fund performance ads

    In a highly unusual move, the Financial Markets Authority (FMA) has cracked down on fund managers advertising post-COVID boom-time annual returns. The regulator has warned managers that advertising any “phenomenal” returns garnered over the 12 months to March 31 could “mislead investors”. Global share markets bounced back spectacularly from the brief COVID-induced shock early last…

    David Chaplin | 23rd Apr 2021 | More