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21 May 2024
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Unlike most other superannuation funds, UniSuper hasn’t piled into unlisted assets. Because of this, it has extra cash on hand and is taking advantage of opportunities opening up as rate hikes crunch economies.
Mark Delaney of AustralianSuper manages more retirement savings than any other person in the country. He explains his views on illiquid assets, bonds versus equities, internal funds management and a coming recession.
ASX small caps have recently underperformed larger companies and liquidity in these companies has vanished. That provides a chance for enterprising investors to buy fast growing yet cheap small and micro cap stocks.
Major bank transaction accounts are paying poor rates on cash at exactly the time when many SMSF trustees are holding more cash than usual due to tough bond and equity markets. Here are some rules and opportunities.
The outlook for emerging market debt in 2021 revolves around liquidity, uneven recoveries and debt sustainability. Damage has been done to many countries’ finances and watch for central banks withdrawing support.
At some point, policymakers will turn to the task of deleveraging, to work off massive debt burdens built up during the pandemic. Australia is already ticking the boxes on many policies used in the past.
Markets always come back to fundamentals, valuations and liquidity, even when faced with a global pandemic. The key question is whether liquidity can hold up the market as the economic storm hits.
Large super funds hold unlisted assets such as infrastructure, property and private equity. It's likely many of these assets have not been revalued recently, inflating the price paid to members who exit.
An investment with any fund manager should be part of an asset allocation decision, but what happens when your equity manager decides to do a major switch to cash? It messes up your plan.
Equity market vigilanties, particularly resisting poor Initial Public Offerings (IPOs), are showing the benefits of active managers not simply buying everything put in front of them.
APRA’s letter to super funds highlights concerns about 'cash' investments. A lack of understanding might haunt investors when the next downturn comes as too many people forsake protection for yield.
One benefit of ETFs for investors is their tradability - being able to buy or sell at any time through the ASX just like an ordinary share. But this leads many investors to mistakenly evaluate their liquidity in the same way.
If you’re like me, you may have put money into term deposits over the past year and it’s time to decide whether to roll them over or look elsewhere. Here are the pros and cons of cash versus other assets right now.
By 2028, all Baby Boomers will be eligible for retirement and the Baby Boomer bubble will have all but deflated. Where will this generation's money end up, and what are the implications for the wealth management industry?
How useful are the retirement savings and spending targets put out by various groups such as ASFA? Not very, and it's reducing the ability of ordinary retirees to fully understand their retirement income options.
There's been little debate on how spending changes as people progress through retirement. Yet, it's a critical issue as it can have a significant impact on the level of savings required at the point of retirement.
Australia will have 3.7 million more people in a decade's time, though the growth won't be evenly distributed. Over 85s will see the fastest growth, while the number of younger people will barely rise.
Recently, I compiled a list of ASX stocks that you could buy and hold forever. Here’s a follow-up list of US stocks that you could own indefinitely, including well-known names like Microsoft, as well as lesser-known gems.