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5 February 2025
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An index rebalance occurs when the composition of an index changes. Fund managers must buy and sell stocks to match the rebalanced index and to achieve their index-tracking objective, but there are consequences.
In his final letter as CEO of Amazon, Jeff Bezos implored people to avoid being normal, to nurture their distinctiveness. Fund managers should earn their active fees by building unique, active portfolios.
While good financial health is desirable, it’s often an imprecise concept. A simple universal framework comprising five indicators with benchmarks enables an objective assessment of personal financial health.
With the Retirement Income Review now in Treasury's hands, will the 'fact base' establish whether large super funds do better than the share index? The public evidence is not impressive.
Many investors are looking to emerging markets due to stretched valuations in developed markets, but there are particular reasons why choosing a passive ETF in emerging markets may not be optimal.
S&P's SPIVA (index versus active) data now spans 15 years of data on the performance of Australian managed funds. This study illuminates returns from sectors and styles, and investment lessons learned from it.
Exposure to bonds in the last few decades has delivered strong returns, but the risks in simply buying a bond index are acute and investors should consider different ways of investing in bonds.
What factors are a guide to a long term successful investment experience in small caps given the sector has struggled to deliver decent returns?
It's difficult for investors to find active fund managers that consistently outperform the market over multiple periods, and the claim that active managers do better in falling markets also lacks recent evidence.
The term 'alpha' may be financial jargon, but for fund managers, it's the highly sought-after prize for successful active management that justifies fees charged. But how do you select a good manager?
The Bank Bill Swap Rate (BBSW) is an important metric in many markets. It’s used as the benchmark for hybrids, FRNs and billions of dollars of loans and bonds.
Index and asset allocation specialists, Research Affiliates, have tested a theory they call the ‘Rip van Winkle’ approach. It uses a cap-weighted index portfolio drawing the data from 20 years earlier to prove a point.
The housing market was subdued in 2024, and pessimism abounds as we start the new year. 2025 is likely to be a tale of two halves, with interest rate cuts fuelling a resurgence in buyer demand in the second half of the year.
This examines the performance of key asset classes and sub-sectors in 2024 and over longer timeframes, and the lessons that can be drawn for constructing an investment portfolio for the next decade.
While encouraging people to draw down on their accumulated wealth in retirement might be good public policy, several million retirees disagree because they are purposefully conserving that capital. It’s time for a different approach.
The renowned investor has penned his first investor letter for 2025 and it’s a ripper. He runs through what bubbles are, which ones he’s experienced, and whether today’s markets qualify as the third major bubble of this century.
Getting regular, growing income from stocks is tougher with the dividend yield on the ASX nearing 25-year lows. Here are some conventional and not-so-conventional ideas for investors wanting to build a dividend portfolio.
2024 was a banner year for equities, with a run-up in US tech stocks broadening into a global market rally, and the big question now is whether the good times can continue? History suggests optimism is warranted.