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What happens when an index is rebalanced?

An index rebalance occurs when the composition of an index changes. Fund managers must buy and sell stocks to match the rebalanced index and to achieve their index-tracking objective, but there are consequences.

Track if your fund manager is taking the best shot

In his final letter as CEO of Amazon, Jeff Bezos implored people to avoid being normal, to nurture their distinctiveness. Fund managers should earn their active fees by building unique, active portfolios.

Five personal checks on your financial health

While good financial health is desirable, it’s often an imprecise concept. A simple universal framework comprising five indicators with benchmarks enables an objective assessment of personal financial health.

Large super funds struggle to match index in Aussie equities

With the Retirement Income Review now in Treasury's hands, will the 'fact base' establish whether large super funds do better than the share index? The public evidence is not impressive.

Why emerging markets are difficult for index funds

Many investors are looking to emerging markets due to stretched valuations in developed markets, but there are particular reasons why choosing a passive ETF in emerging markets may not be optimal.

Six investment lessons from 15 years of data

S&P's SPIVA (index versus active) data now spans 15 years of data on the performance of Australian managed funds. This study illuminates returns from sectors and styles, and investment lessons learned from it.

How fixed interest is undergoing profound change

Exposure to bonds in the last few decades has delivered strong returns, but the risks in simply buying a bond index are acute and investors should consider different ways of investing in bonds.

Don’t judge all small companies by the poor index returns

What factors are a guide to a long term successful investment experience in small caps given the sector has struggled to deliver decent returns?

The difficulties picking fund manager winners

It's difficult for investors to find active fund managers that consistently outperform the market over multiple periods, and the claim that active managers do better in falling markets also lacks recent evidence.

Competing for alpha

The term 'alpha' may be financial jargon, but for fund managers, it's the highly sought-after prize for successful active management that justifies fees charged. But how do you select a good manager?

Calculation and use of BBSW and BBSY

The Bank Bill Swap Rate (BBSW) is an important metric in many markets. It’s used as the benchmark for hybrids, FRNs and billions of dollars of loans and bonds.

There's nothing sleepy about Rip Van Winkle indexing

Index and asset allocation specialists, Research Affiliates, have tested a theory they call the ‘Rip van Winkle’ approach. It uses a cap-weighted index portfolio drawing the data from 20 years earlier to prove a point.

Most viewed in recent weeks

Raising the GST to 15%

Treasurer Jim Chalmers aims to tackle tax reform but faces challenges. Previous reviews struggled due to political sensitivities, highlighting the need for comprehensive and politically feasible change.

7 examples of how the new super tax will be calculated

You've no doubt heard about Division 296. These case studies show what people at various levels above the $3 million threshold might need to pay the ATO, with examples ranging from under $500 to more than $35,000.

Are franking credits hurting Australia’s economy?

Business investment and per capita GDP have languished over the past decade and the Labor Government is conducting inquiries to find out why. Franking credits should be part of the debate about our stalling economy.

Here's what should replace the $3 million super tax

With Div. 296 looming, is there a smarter way to tax superannuation? This proposes a fairer, income-linked alternative that respects compounding, ensures predictability, and avoids taxing unrealised capital gains. 

The rubbery numbers behind super tax concessions

In selling the super tax, Labor has repeated Treasury claims of there being $50 billion in super tax concessions annually, mostly flowing to high-income earners. This figure is vastly overstated.

9 winning investment strategies

There are many ways to invest in stocks, but some strategies are more effective than others. Here are nine tried and tested investment approaches - choosing one of these can improve your chances of reaching your financial goals.

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