We have a long combined history of investing across some of the world’s leading institutional funds management businesses, domestic pension funds and directly as advisors for high net worth clients.
Most investment portfolios today are structured around long-term average returns and a set and forget strategy. Investment markets have and will always be complex and dynamic. Markets do not adhere to a calendar, and nor do we.
We are committed to exceeding our clients’ expectations, continually seeking to innovate and evolve our service. We take the business of protecting and growing our clients’ wealth as serious as our own, investing our own money alongside them.
Around this time last year, we made three broad market predictions. 1) The availability of vaccines would see a return to relative normalcy in the second half of 2021. 2) A recovery in growth and higher real interest rates would drive a rotation from growth into value stocks. 3) Equity markets will eventually come under pressure from rising long term interest rates. We were broadly correct on Covid with the notable exception of China and Australia. If you are vaccinated, life is pretty close to normal in most major economies. Our performance on the other two predictions was more mixed. Not to be disheartened, we again look to the coming year and consider some possible major market outcomes and assess the asset class implications.
Around this time last year, we made three broad market predictions. 1) The availability of vaccines would see a return to relative normalcy in the second half of 2021. 2) A recovery in growth and higher real interest rates would drive a rotation from growth into value stocks. 3) Equity markets will eventually come under pressure from rising long term interest rates. We were broadly correct on Covid with the notable exception of China and Australia. If you are vaccinated, life is pretty close to normal in most major economies. Our performance on the other two predictions was more mixed. Not to be disheartened, we again look to the coming year and consider some possible major market outcomes and assess the asset class implications.
Around this time last year, we made three broad market predictions. 1) The availability of vaccines would see a return to relative normalcy in the second half of 2021. 2) A recovery in growth and higher real interest rates would drive a rotation from growth into value stocks. 3) Equity markets will eventually come under pressure from rising long term interest rates. We were broadly correct on Covid with the notable exception of China and Australia. If you are vaccinated, life is pretty close to normal in most major economies. Our performance on the other two predictions was more mixed. Not to be disheartened, we again look to the coming year and consider some possible major market outcomes and assess the asset class implications.
In this month’s Insight, we showcase how we can use the changing business cycle as a signpost for asset class and investment style performance, a strategy known as regime based investing. Over the medium term, economic fundamentals are different across different stages of the business cycle and in turn asset class performance also varies. Here we dive deeper, using our economic growth framework to determine the assets and styles best suited to each regime for multi-asset portfolios.
In this month’s Insight, we showcase how we can use the changing business cycle as a signpost for asset class and investment style performance, a strategy known as regime based investing. Over the medium term, economic fundamentals are different across different stages of the business cycle and in turn asset class performance also varies. Here we dive deeper, using our economic growth framework to determine the assets and styles best suited to each regime for multi-asset portfolios.
In this month’s Insight, we tackle the great stagflation debate (economic stagnation + high inflation). There is no question that inflation has proved less transitory than market expectations earlier in the year. Alongside this, the post-lockdown period of above trend economic growth has settled down into something closer to the long run average more quickly than anticipated while China casts a dark cloud over the global growth outlook.
In this month’s Insight, we tackle the great stagflation debate (economic stagnation + high inflation). There is no question that inflation has proved less transitory than market expectations earlier in the year. Alongside this, the post-lockdown period of above trend economic growth has settled down into something closer to the long run average more quickly than anticipated while China casts a dark cloud over the global growth outlook.
The Australian housing market is a source of endless barbeque conversation and media pontification. The debate around house prices is not just a social or moral one. House prices matter for investors because they influence household consumption patterns and potential growth. They also have a symbiotic relationship with interest rates, and a key driving force of RBA policy in coming years will be the debt load accumulated by households in the recent price boom. In this Insight, we unpack the Australian housing market, with a particular focus on affordability.
The Australian housing market is a source of endless barbeque conversation and media pontification. The debate around house prices is not just a social or moral one. House prices matter for investors because they influence household consumption patterns and potential growth. They also have a symbiotic relationship with interest rates, and a key driving force of RBA policy in coming years will be the debt load accumulated by households in the recent price boom. In this Insight, we unpack the Australian housing market, with a particular focus on affordability.
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