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Sunday, 6 December 2020
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Chris has many years of experience in building successful wealth management practices.
Chris Cuffe has spent four decades selecting fund managers for multi-manager portfolios, and he explains what he looks for and why active management can work, as well as updating his investment lessons.
Investing in unit trusts just before a distribution is paid may see a portion of your capital returned to you in the form of taxable income, which will be a poor outcome for your returns.
Due to its illiquidity and higher risk, private debt as an asset class will not suit all investors. But for a patient investor with a longer-term horizon, private debt funds can provide a good risk/return trade off.
Firstlinks publishes hundreds of articles a year, and Chris Cuffe has selected from the most popular, especially those shining a light on issues the wealth industry must face up to in future.
The journey began as a chat over lunch, and with the acquisition of Cuffelinks (Firstlinks) by Morningstar, the pieces are in place to take the publication to the next level.
A Chris Cuffe classic article that never ages. Every experienced investor develops a set of beliefs about how markets operate.
On the sidelines of the Morningstar Conference, the Magellan co-founder reflects on the pandemic and which sectors are set to gain and lose. He says we were lucky the pandemic hit when it did (videos and transcripts).
Administration costs can rise for complexity, especially owning property in an SMSF, but fees are highly competitive from a wide range of service providers. The break-even cost is less than previously reported.
SMSF trustees often cite ‘control of my investments’ as the number one motivation for setting up their own fund. But it still makes sense to outsource some parts of a well-diversified portfolio.
The Retirement Income Review demonstrated limited understanding of the risks faced by self-funded retirees implementing rational human behaviour. Spending to qualify for the age pension is not a solution.
Average life expectancies are a weak predictor of individual outcomes, and it's better to consider a range of probable lifespans. A plan that lasts to the average will disappoint every second retiree.
Interest in 'quality' factor ETFs has increased this year, helped by very attractive returns. However, not all ETFs are created alike and there are divergences in portfolio traits which investors can identify.
Much has been written about the rise of 'zombie firms' which should have gone bankrupt, but new research should be comforting to economists and investors alike, with focus on a particular segment.