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30 June 2022
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Few people have been closer to superannuation policy over the years than Noel Whittaker, especially when he established his eponymous financial planning business. He takes us on a quick guided tour.
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All Baby Boomers are now over 55 and many are either in retirement or thinking about a transition from work. But what is retirement like? Is it the golden years or a drag? Do you have tips for making the most of it?
A $28 billion global manager still sees far more potential in value than growth stocks, believes energy stocks are undervalued including an Australian company, and describes the need for resilience in investing.
Paul Keating not only designed compulsory superannuation but in the 30 years since its introduction, he has maintained the rage. Here are highlights of three articles on SG's origins and two more recent interviews.
Central bank support for credit and equity markets is reversing, which has led to wider spreads and higher rates. But what does that mean and is it time to jump at higher rates or do they have some way to go?
Pundits have once again declared the death of the 60% stock/40% bond portfolio amid sharp declines in both stock and bond prices. Based on history, balanced portfolios are apt to prove the naysayers wrong, again.
Both passive investing and ETFs have withstood criticism as their popularity has grown. They have been blamed for causing bubbles, distorting the market, and concentrating share ownership. Are any of these criticisms valid?
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Welcome to Firstlinks Edition 463 with weekend update 7
Marking 30 years of the Superannuation Guarantee, a game changer for Australian super, with industry funds far ahead of retail funds, we check how SMSFs have prospered, and look at coming super changes on 1 July 2022.Read More.
On 1 July 1992, the Superannuation Guarantee created mandatory 3% contributions into super for employees. SMSFs were an after-thought but they are now the second-largest segment. How have they changed?
What was bothering markets in 2006? Try the end of cheap money, bond yields rising, high energy prices and record high commodity prices feeding inflation. Who says these are 'unprecedented' times? It's 2006 v 2022.
Barry Lambert’s lessons apply not only to business, but to life and are an insight into the behavioural differences which make founder-led companies a special hunting ground for investors.
Over the past decade, we have seen sales of EVs go from a trickle to a steady stream of rapid adoption. We are now on the cusp of rapid expansion and have momentum to move the transport sector towards a path to decarbonization.
Individual investors think professionals have ‘smart money’ advantages enjoyed on the inside. While some perks are worthwhile, others are a rort, and overall, it's easier to invest with the freedom of ‘small money’.
Meg gives her top five tips before 30 June 2022 for SMSF trustees and anyone actively managing their super. It's easy to overlook these steps, and one in particular could handsomely increase your super balance.
One of the major questions confronting investors is the portfolio weighting towards Australian banks in an environment of rising rates. Do the recent price falls represent value or are too many bad debts coming?
With the focus on the cash rate of 0.85%, investors may overlook that fixed rate bonds are far ahead in the game. The question for high-quality bond investors is whether to go fixed or floating for the best returns.
To add to the world's problems, high inflation is exposing Europe's frailties and poorer nations have no independent monetary policies to help their economies. Core problems cannot always be kicked down the road.
Using the nine dimensions of well-being used by the OECD, and dividing Australians into Baby Boomers, Generation Xers or Millennials, it is surprisingly easy to identify the winners and losers for most dimensions.
We may have been extremely unlucky with the unforgiving weather plaguing the East Coast of Australia this year. However, on the economic front we are by many measures in a strong position relative to the rest of the world.
Central banks are unable to ignore the inflation in front of them, but underlying macro-economic conditions indicate that inflation may be transitory and the consequences of monetary tightening dangerous.
Given the current environment it’s easy to wonder if there are any safe ports in the investment storm. Investments in infrastructure assets show their worth in such times.
We are witnessing a shift away from new, “exciting, visionary, ground-breaking companies” to well-established, quality businesses, with resilient cash flows, that make good profits and have solid growth prospects.
Investors are convinced that Australia is going to have a recession, and that it’s going to be a humdinger. Several cyclical companies are trading at valuation levels reflecting the certainty of an uncertain recession.
With BBB-rated investment grade credit in solid companies offering yields above 5% - a higher yield than what is currently available in most equity markets - there is plenty of opportunities for yield in fixed income.
As market uncertainty continues, it is more important than ever to have a sound investment process. To help with a long-term focus, it may be useful to have some guidelines to fall back on when the market noise gets too loud.
Commercial real estate still offers good yield pickups versus bonds, but some sectors are better positioned than others. What types are resilient in the face of rising inflation and interest rates?
With 62% of Australians aged 65 and over relying at least partially on the age pension, are they better off owning their home or renting? There is an extra pension asset allowance for those not owning a home.
Whether you are appointing an attorney or have been appointed as an attorney, the full extent of this legal framework should be understood as more people will need to act in this capacity in future.
The costs of aged care will only continue to increase as the Baby Boomer generation moves into their frailty years, increasing not only the demand for services but also higher consumer expectations around the quality of service.
Family trusts are used to hold wealth, with benefits like asset protection, tax planning, capital gains tax discount and ability to carry forward losses. But there are disadvantages that must be weighed up.
Depending on personal circumstances, it may be time to rethink the bias to paying down housing debt over wealth accumulation in super. Do the sums and ask these four questions to plan for your future.
Many financial advisers have left the industry because it costs more to produce advice than is charged as an up-front fee. Advisers are valued by those who use them while the unadvised don’t see the need to pay.
Equity investing comes with volatility that makes many retirees uncomfortable. A focus on income which is less volatile than share prices, and quality companies delivering robust earnings, offers more reassurance.
During market dislocation events, investors react irrationally and it should be a great environment for active management. The last few years have been an easy ride on tech stocks but it's now all about quality.
Property funds are not only offices and malls. Australia is at the forefront of sophisticated warehousing but lags on build-to-rent. What about logistics, technology hubs, data centres, self storage and health care?
In the last decade, ETFs have become a mainstay of many portfolios, with broad market access to most asset types, as well as a wide array of sectors and themes. Is there a favourite of a CEO who oversees 30 funds?
What does a global investor think of the consequences of war, changing investment opportunities, building portfolios, good and bad stocks and why obstinacy amid short-term trends is a positive attribute?
Global exchange and derivatives company, Cboe, recently acquired the local ASX competitor, Chi-X. Its CEO explains what global capabilities it brings and why you may already trade through Cboe without knowing it.
Marking 30 years of the Superannuation Guarantee, a game changer for Australian super, with industry funds far ahead of retail funds, we check how SMSFs have prospered, and look at coming super changes on 1 July 2022.
"Bring it on!" That's what many investors looking for income are thinking as rates rise. But inflation is rampant and we were warned in 2020 and 2021 that there is no 'magic money tree' that allows money printing without poor consequences.
The new Labor Cabinet is sworn in and ministers are moving into their offices, and immediately, the lobbyists come knocking, representing clients who 'pay-to-play'. Plus cash rate falls in 2023, EOFY checks and market weakness.
Anthony Albanese experienced a good first fortnight as Prime Minister, but an early threat to the fun is energy, both the impact on climate change and the cost. The majority of Australia's energy needs come from fossil fuels and the global transition must not only be timely but fair.
Numerous studies show investors in aggregate significantly underperform the funds they use due to poor timing of entry and exit. What does this mean when markets are falling and risks rising? Plus pause to admire the merits of our democracy.
At around 10.30pm on Saturday night, Scott Morrison called Anthony Albanese to concede defeat in the 2022 election. As voting continued the next day, it became likely that Labor would reach the magic number of 76 seats to form a majority government.
The Oracle of Omaha’s latest annual letter is full of lessons for investors, including waiting for value, keeping a buffer, trusting the quality of your investments, and recognising new and important trends.
Most global corporations' direct exposure to Russia is limited; however, rising commodity prices and supply chain disruptions will pressure consumer sentiment and raise inflationary risks.
Following on from last week's article about the need for 'fun' in investing, a bit of money to shoot for the moon can be investors’ pressure relief valve and stop people tinkering with their main portfolio.
The most common advice in a market selloff is to hang on for the long term, but that assumes a well-laid, well-maintained plan. That may not be the case for some investors and selling may be worthwhile.
At a 2022 Outlook event, the influential BlackRock (largest fund manager in the world) CEO spoke about consumer behaviour and its impact on prices, the pandemic, ESG trends and likely equity returns for 2022.
As we enter a new year, we dive into the Morningstar database to see which asset classes have performed well over various time periods, with the related risks and largest historical drawdowns.
Chris has many years of experience in building successful wealth management practices.
Noel Whittaker is one of the world's foremost authorities on personal finance.
Phil Ruthven is the founder and director of IBISWorld, Australia's best-known business information, forecasting and strategic services corporation
Paul John Keating is a former Australian politician who served as the 24th Prime Minister of Australia, in office from 1991 to 1996 as leader of the Labor Party.
S&P confirms A- ratings for two Metrics Credit Partners funds.
to acquire Alcentra from BNY Mellon.
to launch Australia’s first global carbon credits ETF.
This brief history of the GFC and the lessons we should learn is a reminder that similar events will happen again at some stage, and this time we have no excuse not to be ready.
The short-term volatility of share prices, and the rapid falls which hit markets every 15 years or so, disguise the wealth creation effects of share investments over a long-term horizon.
An investor’s fundamental investment process should be adapted to take account of the psychology and emotion involved in making such decisions, including a disciplined approach to entering and exiting positions.
A lower starting withdrawal rate doesn’t always mean living on less. The latest research on sustainable withdrawals offers flexibility for retirees to improve the chances of not running out of funds prematurely.
While the competing structure, ETFs, has increased in size far quicker in recent years, LICs remain an important part of the listed trust sector. There are differences between Traditional and Trading LICs.