Desktop
iPad
Mobile

ASSET ALLOCATION

A quarterly summary of finances

ASSET ALLOCATION

13.07.2021

The early, most profitable, phase of the investment cycle is now likely past. Mid-cycle still offers opportunities for equity investors but it is …

ASSET ALLOCATION

16.04.2021

With the “event” that triggered the global recession now in the process of being addressed, it is time to think about the future. What …

ASSET ALLOCATION

15.01.2021

The finish line for the event that stopped the world came into sight in the fourth quarter of 2020 after three potential COVID-19 vaccines showed …

ASSET ALLOCATION

13.10.2020

Another interesting quarter has passed with equity markets once again in the drivers seat and government bond markets thankful for even a place in …

ASSET ALLOCATION

13.07.2020

In the past three months, the US equity market put in its best performance in over 21 years while the US economy put in its worst performance on …

ASSET ALLOCATION

14.04.2020

We saw a strong start to 2020 as concerns over US-China trade, Brexit and impeachment subsided. However, the optimism faded late in the month as the …

ASSET ALLOCATION

21.10.2019

In this quarterly report we have reviewed aspects in financial markets that are, in our opinion, unique to the cycle and those that are the same as …

ASSET ALLOCATION

12.07.2019

A falling rate of business investment points to slower economic growth into 2020. Fiscal policy and a degree of reversion from weak data may imply …

ASSET ALLOCATION

11.04.2019

Weakening global growth and downward revision to corporate earnings have not stood in the way of a first quarter equity market rally as central banks …

ASSET ALLOCATION

23.01.2019

Economic growth is slowing in all key regions, with the first quarter of 2019 likely to be particularly soft (US shutdown, Brexit, China pre-stimulus,…

ASSET ALLOCATION

14.12.2018

In this asset allocation report we provide a brief summation to three issues: Long term, big picture, impacts on asset classes, a response to the …

ASSET ALLOCATION

11.10.2018

Balance sheet and related metrics were out of the spotlight as central banks provided certainty on low interest rates. Rates are now rising, central …

ASSET ALLOCATION

24.07.2018

In this edition of our Asset Allocation Quarterly we will focus on the impact of regulation and policy on asset classes that we believe are currently …

ASSET ALLOCATION

13.04.2018

In this edition of our Asset Allocation we will focus on the determinants of valuation within each asset class.

ASSET ALLOCATION

29.01.2018

In this edition of our Asset Allocation we will focus on investment markets, product and security positioning after a brief summary of the current …

ASSET ALLOCATION

13.12.2017

For the moment, we remain positive on equity allocations, though there are signs that we are at the mature end of a bull market. The elevated level …

ASSET ALLOCATION

16.10.2017

The current strength in global economic growth is expected to hold its pace into 2018. Encouraging signs of investment spending are fundamental to …

ASSET ALLOCATION

17.07.2017

Global economic momentum has improved at a steady pace through 2017 driven by better than expected growth in Europe and a recovery in trade. …

ASSET ALLOCATION

13.04.2017

In this quarterly report we will present the ‘central case’, that is, the assessment of economic fundamentals which underpin our …

ASSET ALLOCATION

23.01.2017

Our cautious stance in 2016 proved unwarranted as fixed income markets held onto early returns, while equities rallied into the year end. The …

ASSET ALLOCATION

22.11.2016

Since mid-year, the tone in investment markets has changed. Initially, some may have considered this just another cycle in the ‘flat but fat&…

ASSET ALLOCATION

06.10.2016

Outside of economic and company analysis, environmental, social and governance (ESG) issues have become an increasing component in judging the …

ASSET ALLOCATION

09.08.2016

The intention of asset allocation is to provide a framework for an investor to consider the rate of return a portfolio can achieve and most …

ASSET ALLOCATION

18.07.2016

In the near term we believe investment risks are elevated due to forthcoming macro events and higher than average valuations across most market …

ASSET ALLOCATION

19.10.2016

The combination of relatively elevated valuations and an unsettled political world is causing skittish investment markets. In this quarterly update …

ASSET ALLOCATION

26.04.2016

In this quarterly we discuss the degree of concentration that can be an unintended consequence of portfolio selections. We aim to express a …

ASSET ALLOCATION

09.02.2016

For some time we have guided investors towards anticipating a lower contribution from growth assets, while the yield in fixed income assets is also …

ASSET ALLOCATION

18.12.2015

The rate of global economic growth failed to accelerate in 2015, leaving the pace of expansion at just over 3%. While far from a calamity, the …

ASSET ALLOCATION

17.07.2015

Rather than Greece, the predominant global influence on Australian investment portfolios in the coming twelve months is expected to be the US, …

ASSET ALLOCATION

21.10.2015

The past quarter has been unfriendly to investment returns, with long duration fixed income providing the best returns, making up for a weak second …

ASSET ALLOCATION

09.04.2015

We have tempered our expected index returns given that asset class performance has been strong in recent years and that valuations are no longer as …

ASSET ALLOCATION

20.10.2014

The importance of monetary policy in asset values will be tested over the coming 12 months as a prospective divergence occurs in the US and UK versus …

ASSET ALLOCATION

27.06.2014

- Global outlook remains respectable, but low growth. - Inflation to date has been muted, indeed too low. Employment growth is the best indicator of …

ASSET ALLOCATION

20.01.2014

In this note we will summarise our investment asset class views for the year. In a separate note we continue with themes we believe are relevant in …

ASSET ALLOCATION

24.12.2013

Following the financial crisis, investment markets have been supported by easing monetary conditions and progressive rebuilding in business and …

LOGIN