ASSET ALLOCATION
13.04.2017
Asset Allocation April 2017
In this quarterly report we will present the ‘central case’, that is, the assessment of economic fundamentals which underpin our …
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ASSET ALLOCATION
23.01.2017
Asset Allocation January 2017
Our cautious stance in 2016 proved unwarranted as fixed income markets held onto early returns, while equities rallied into the year end. The …
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ASSET ALLOCATION
22.11.2016
Asset Allocation November 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&…
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ASSET ALLOCATION
06.10.2016
Environmental, Social and Governance (ESG) - An investment framework
Outside of economic and company analysis, environmental, social and governance (ESG) issues have become an increasing component in judging the …
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ASSET ALLOCATION
19.10.2016
Asset Allocation October 2016
The combination of relatively elevated valuations and an unsettled political world is causing skittish investment markets. In this quarterly update …
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ASSET ALLOCATION
09.08.2016
Asset Allocation Principles 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 …
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ASSET ALLOCATION
18.07.2016
Asset Allocation July 2016
In the near term we believe investment risks are elevated due to forthcoming macro events and higher than average valuations across most market …
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ASSET ALLOCATION
26.04.2016
Asset Allocation April 2016
In this quarterly we discuss the degree of concentration that can be an unintended consequence of portfolio selections. We aim to express a …
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ASSET ALLOCATION
09.02.2016
Asset Allocation February 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 …
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ASSET ALLOCATION
18.12.2015
Asset Allocation: 2015 in Review and a Look Ahead
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 …
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ASSET ALLOCATION
17.07.2015
Asset Allocation July 2015
Rather than Greece, the predominant global influence on Australian investment portfolios in the coming twelve months is expected to be the US, …
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ASSET ALLOCATION
09.04.2015
Asset Allocation April 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 …
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ASSET ALLOCATION
21.10.2015
Asset Allocation October 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 …
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ASSET ALLOCATION
20.10.2014
Asset Allocation Update Q4 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 …
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ASSET ALLOCATION
27.06.2014
Asset Allocation June 2014
- Global outlook remains respectable, but low growth.
- Inflation to date has been muted, indeed too low. Employment growth is the best indicator of …
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ASSET ALLOCATION
20.01.2014
Summary Investment Asset Class Outlook 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 …
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ASSET ALLOCATION
24.12.2013
Investment markets: transition to a change in conditions
Following the financial crisis, investment markets have been supported by easing monetary conditions and progressive rebuilding in business and …
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