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Sunday, 23 January 2022
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We often assign quality in investment choice by historical returns, backed up when we see fund flows directed towards such historically well-performing funds. This is a mistake made by investors and regulators.
Most active fund managers are the beneficiaries of a confluence of favourable events. As future strong returns look challenging, passive is rising and new investors do their own thing, a golden age may be closing.
A fund that is 'passive' does not mean its managers merely invest as directed by the index with little concern for ESG risks. Good stewardship is valued as much by 'indirect' investors as direct shareholders.
Even the best long-term performing fund managers have shorter-term periods of underperformance. It’s not a failure, it’s a feature of the industry. Investors need patience when backing a good track record.
Peter Thornhill shows how his personal portfolio has thrived under an 'all-in equities' strategy, but Warren Buffett's favourite valuation indicator says stock markets are priced at their most extreme ever.
Active managers need to know what factors are distorting asset prices. This interview with Ted Maloney, CIO of MFS, explores how much of 10 years of growth has been pulled forward and the impact of Reddit users.
Part of the fund manager's job is to raise money from investors, and with years of practice, a few good stock stories and an educated guess on the future, it's not hard to present well. That's a problem for investors.
At a recent industry panel, superannuation and funds management experts discussed the challenges facing the sector in 2021 and beyond. Investors should know what managers are thinking in growing their businesses.
Some fund managers take as much money as they can raise in the interests of generating fees, but especially in the smaller and mid cap space, limiting capacity gives flexibility and a competitive advantage.
For many global tech companies, COVID has boosted their revenues and pushed share prices to all-time highs. We are on the cusp of amazing technical advances and there are plenty of new opportunities.
Fidelity took out the top gong this year alongside other winners in Australian equities, global equities, fixed interest, listed property and infrastructure and multisector funds.
Where once the name plates of exciting new fund managers proudly displayed, now there are blank spaces. What is happening in the industry that so many talented people are closing the doors?
Most people entering retirement do not see a financial adviser, mainly due to cost. It's a major problem because there are small mistakes a retiree can make which are expensive and avoidable if a few tips were known.
Eligibility for the Commonwealth Seniors Health Card has no asset test and a relatively high income test. It's worth checking eligibility and the benefits of qualifying to save on the cost of medications.
The focus is on Magellan for its investment performance and departure of the CEO, but Douglass says the pandemic, inflation, rising rates and Middle East tensions have not played out. Vindication is always long term.
This is our annual checklist of what retirees need to be aware of in 2022. It is a long list of 25 items and not everything will apply to your situation. Run your eye over the benefits and entitlements.
The Warren Buffett/Charlie Munger partnership is the stuff of legends, but even Charlie admits it is coming to an end ("I'm nearly dead"). He is one of the few people in investing prepared to say what he thinks.
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.