Even established asset managers are under threat from the violent shift towards low-cost investment vehicles, while allocator preference for platform businesses means they must also bulk up in the private markets.
True diversification means owning assets that are truly uncorrelated. But that fact hasn’t stopped big investors from piling into the private markets while pretending that the Fed Put can protect their public portfolios.
AMP will reduce the headcount across its superannuation and North platform businesses and press ahead with changes to its redundancy policies even as the Finance Sector Union warns that “staff deserve better”.
The environment we’re heading into is one where economies will have more redundancies built into them so they can withstand exogenous geopolitical shocks, according to Ausbil.
The sharp fall in markets in August was a sign of things to come, according to Ruffer, but one that investors haven’t heeded, with positioning and sentiment becoming even more extreme.
Australian small cap managers are some of the most successful active managers in the world – and charge like it. But their apparently anomalous outcomes might have a relatively simple explanation, according to Invesco.
Everybody knows about infrastructure’s inflation hedging properties, but not everybody understands just how unique that hedge is. Meanwhile, the world is going mad for power, and renewables are set to supply it.
Proper valuations are crucial to the transparency and stability of the private credit market, but the valuations that investors rely on are often just a story – and not the whole story either.
Victor Smorgon Group is one of the rare family offices that manage external funds. Doing that required modifying some of the investment principles that it holds dear.
Valuations are so high in India that people need to have “completely given up hope” before Pzena wades in and makes an investment. It’s shopping in China while it waits.
