Advance steps back from 'crowded' domestic LPT universe

St George-owned manager of managers Advance Asset Management has made a major shift to global listed property, allocating half its listed property fund to two global mandates in a move to diversify away from the increasingly concentrated Australian LPT universe.

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Optimism: Good For business, bad for portfolios

Thanks to the rise of behavioural finance, funds managers are generally aware of the innate human biases which influence decisions. Whether they can adjust for them is another question. Now, with economists involved in the study and measurement of happiness, the role of optimism is being analysed at both the organisational and individual level. STEPHEN SHORE investigates how managers can harness exuberance, without letting it overtake them.

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