equities;

Hedge Funds

Short-term contracts harm long term value

‘Long-term investors’ will remain short-term investors until they move beyond three year contracts with external managers, according to Saker Nusseibeh, chief executive of Hermes. Challenging delegates at the Equities Summit to question accepted beliefs, Nusseibeh said a bias to owning ‘quality companies’ without carrying out engagement to improve governance was another common investor deceit. The […]
Hedge Funds

Woolworths is John Pearce’s biggest regret

John Pearce has taken the brave step of revealing the investments he got wrong over the last year in his role as chief investment of UniSuper. The fund has an overweight bet on many high yielding Australian shares and while this paid off for Telstra and ASX it has produced an 18 per cent loss […]
Hedge Funds

State Super Financial Services cautious about bondification of equities

State Super Financial Services (SSFS) is cautious about the bondification of equites as it can give an unintended bias to interest rate sensitivity. The term has been highlighted in CREATE – Research and Principal Global Investors’ annual global survey of 705 pension plans, sovereign wealth funds, asset managers, pension consultants and fund buyers, which predicts […]
Hedge Funds

Risk of crowded trades calculated by new research

Crowding is the single biggest mispriced risk for investors over a one-to-two year time horizon, according to Sasho Bogoevski, managing director, multi-asset solutions, AB. He told delegates of the Fiduciary Investors Symposium how his firm’s research had identified crowding around stocks common in low volatility portfolios as a particular concern and how several of AB’s […]
CIO profiles

What would Keynes do?

What would Keynes’ do? Delegates at a London investment think-tank discussed this question with Cambridge University’s David Chambers. Keynes started managing the Kings College, Cambridge endowment after World War I and analysis of his investing style reveals some interesting annotations for investors today. John Maynard Keynes was not just an economist – he was a […]
Hedge Funds

Investors should be overweight international equities

Investment portfolios should have be overweight in international equities and underweight in Australian equities on a two to three year time horizon, a panel representing leading investment experts said. Jeremy Lawson, chief economist, Standard Life Investments argued that the risk-return basis of Australian equities were not attractive when compared with other international equity markets, particularly […]
Hedge Funds

Future Fund reallocates assets to reduce risk

The Future Fund has shifted its allocation away from developed markets equities and debt securities as it uses dynamic management to reduce risk levels at the margins. The volatile environment in global markets has led, in the past year, to a portfolio reduction of 360 basis points of equities in developed markets, a 130 basis […]
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