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5 February 2025
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There were mixed performances by LICs and LITs last year although they generally delivered an increase in dividends. Total returns including price are driven by the extent to which they trade at a discount to NTA.
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.
Over decades, relatively few companies generate all the stockmarket's outperformance. Is this an argument for passive investing or does it prove active investing is rewarded? Bessembinder lets you decide.
Flows into equities were not strong in 2022 as investors worried about the selloff, but more money flowed into fixed interest at the wrong time. Managed funds still dominate ETFs and LICs but the gap is closing.
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.
Investors often overlook the capital risk in high-yielding stocks. It's better to ensure capital grows and investors can sell a portion each year to make up for the shortfall in income from dividends.
Following the uncertainty of the GFC, 2010 to 2019 delivered decent Australian share results overall, with wide variations by sector. It's fascinating to see who won and lost over the decade.
Depending on the type of fund you use and whether you pay for advice, there is a large difference in the size of fees. It might be worth paying for extras but choose the fund and advice level that suits you.
Morningstar's full report on asset class returns for all terms out to 10 years updated to 31 December 2017, plus standard deviations (volatility) of returns in each asset class, a 'risk' measure often overlooked by investors.
How was your asset allocation last year? Take a look at every financial year since 1998 and there's no pattern. Please complete our quick survey on the best and worst for 2017/2018.
Long gone are the days when 'passive' investing meant simply replicating a cap-weighted index, especially with the surge in 'active' and 'factor-based' funds such as smart beta. We need more nuanced definitions.
Morningstar’s asset class gameboard for 2015 updates how each asset class has performed over the last 20 years, and shows that no single asset class consistently outperforms the others.
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.