Blending alpha, factors and index Read more

Fish apparently rot from the head down. The chief executives of Australia's big four banks have helped themselves to monster pay rises over the past 20 years. Bank staff were financially motivated to sell more products to help meet their performance ... Read more

Three men sit huddled together, watching a video that plays on a computer screen in a large-ish empty room. Sounds like a late-night university study session? Only the men are in crisp white shirts, not hoodies. The video on the screen is not that of ... Read more

In 1962, President John F. Kennedy delivered Yale's graduating class of 1962 a piece of advice that all investors should hold dear: "The great enemy of truth is very often not the lie - deliberate, contrived and dishonest - but the myth - persistent ... Read more

As a fixed income asset class with relatively high duration, sovereign emerging debt is sensitive to interest rates. But is there anything else we can say? Read more

Equally weighted portfolios outperform their market capitalisation counterparts over the long term and over almost all short term periods. The evidence to support this is cited in the References and is demonstrated in Figure 1, which shows the performance ... Read more

As 2018 began, the consensus market narrative was centered around a Goldilocks scenario characterised by synchronised strong global growth and modest inflation pressures. This macro backdrop, combined with still-accommodative monetary policy in developed ... Read more

For the last eight years, investing has seemed to be a pretty easy activity to most observers. Not only have markets given strong returns, but the apparent riskiness of both individual assets and overall portfolios has been low. It has not simply been ... Read more

What a difference a quarter makes. When I last wrote in January, we remained cautiously risk on, but extremely nervous in the process. As I noted at the time, we saw risks that a change in the inflation outlook could "cascade throughout the system to ... Read more

The demand for environmental, social, and governance (ESG) or responsible investing (RI) is growing at a rapid pace with nearly USD 23 trillion of assets being professionally managed under RI as of 2016, an increase of 72% since 2012. Read more