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It’s too soon to call the death of traditional portfolio construction even as an apparent new investment paradigm makes it more challenged. Investors should instead stay ‘humble students of the market’.
Allspring Global Investments has launched an expansion into Australia and New Zealand led by new regional chief executive, Andy Sowerby. If history is a guide, the rollout of institutional funds management capabilities will be rapid. Sowerby, like Joe Sullivan, Allspring’s chairman and CEO, hails from Legg Mason, where he was the Melbourne-based regional head prior…