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23 February 2025
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Since the rise of ETFs, there has been a focus on fees. Yet, investors should also understand the different indices that funds are benchmarked against and the ETF managers because these too can impact investment outcomes.
Thanks to the 'Magnificent Seven' stocks, global passive investors thrashed most active peers in 2023. But there's a hitch: these investors' portfolios are now concentrated in the most overvalued segment of the market.
Fund managers have more staff, more information, and more access to companies, yet individual investors have one advantage in their favour. Anyone selecting a manager should consider such constraints on performance.
In designing rules to protect investors, ASIC prevents reinvestment in products some people have held for years, even when investors qualify as 'wholesale'. How can ASIC change the rules to correct the imbalance?
Australian retail investors appear pessimistic about the market outlook with cash allocations at record highs. Those buying prefer materials and energy stocks, while fallen angels such as Magellan are out of favour.
Smart beta funds are based on predetermined factors or investment methodologies, not stock selections by fund managers. The funds are transparent and rules-based, usually at a cheaper cost than active managers.
Treasury has conducted a post-implementation review of the banning of stamping fees paid by product issuers to brokers and advisers. The Australian Shareholders' Association does not support the banning.
Both passive investing and ETFs have withstood criticism as their popularity has grown. They have been blamed for causing bubbles, distorting the market, and concentrating share ownership. Are any of these criticisms valid?
Individual investors think professionals have ‘smart money’ advantages enjoyed on the inside. While some perks are worthwhile, others are a rort, and overall, it's easier to invest with the freedom of ‘small money’.
Conservative investors who want the greater capital security of bonds can now lock in 5% but they should stay at the higher end of credit quality. Rises in rates and defaults mean it's not as easy as it looks.
If you thought fund managers were banned from paying commissions to financial advisers and brokers to prevent conflicts of interest, you have not kept up with the move to classify clients as wholesale investors.
Major changes are underway in the methods used to distribute bank hybrids. Investor cannot rely on the previous ways of buying hybrids at IPO and now must be 'sophisticated', react quickly and know a broker.
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.
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.
The CIO of Australia’s fourth largest super fund by assets, John Pearce, suggests the odds favour a flat year for markets, with the possibility of a correction of 10% or more. However, he’ll use any dip as a buying opportunity.
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.
Australians are used to hearing dire warnings that they don't have enough saved for a comfortable retirement. Yet most people need to save a lot less than you might think — as long as they meet an important condition.
It’s well documented that many retirees draw down the minimum amount required and die with much of their super balances untouched. This explores the reasons why and some potential solutions to address the issue.