North American confidence dives in September
Global investor sentiment plunged in September, pushed lower by a crisis of confidence in North America. The State Street Investor Confidence Index fell 3.5 points to 101.4 in September, from August’s reading of 104.9, as sentiment in the United States and Canada took a nosedive amid concerns of the Federal Reserve tapering stimulus and a
September 26, 2013
Rethink portfolios with risk management
Innova Asset Management, the funds management arm of Fortnum Financial Advisers, is rebuilding its range of model portfolios using a new approach to portfolio construction that pays little attention to investment returns. According to Innova managing director Dan Miles, risk management, not return optimisation, should be at the heart of the investment process. “There are
September 24, 2013
Small APRA funds are flexible
Small Australian-Prudential-Regualtion-Authority funds (SAFs) are a “flexible”, and in some instances superior, alternative to self-managed superannuation funds. However, the majority of accountants, and many financial advisers, aren’t aware that they exist, according to Julie Steed, technical services manager at IOOF-owned Australian Executor Trustees. A small APRA fund has a similar structure to an SMSF, however
September 24, 2013
Strong and skinny: the equity market cycle
Leaving aside the Bernanke Bounce on September 18, emerging markets have fallen so far out of favour that it’s now de rigeur to label Goldman Sachs’ championing of the Brazil, Russia, India and China as nothing more than glib marketing. The conventional wisdom these days is that these four very different developing countries were only
September 23, 2013
Retirees pass batons to newbies at Hillross, AMP
AMP is countering the loss of retiring advisers by attracting new advisers and practices to its premium dealer group Hillross. Hillross has signed up 11 newcomers, helping them set up their own businesses, while a further seven established practices, representing over $1 billion in funds under advice, have also joined in the last 12 months.
September 20, 2013
Emerging consumer strategy bags $10 million
A Canadian institution will next month seed AllianceBernstein’s new Emerging Consumer strategy with $10 million. The strategy, which has returned 41 per cent on paper in the two years since its inception, relies on “grassroots research” in addition to traditional top-down and bottom-up analysis to actively invest in stocks that will benefit from consumption trends
September 20, 2013
Zenith Awards: three new categories announced
Three new categories in this year’s Professional Planner | Zenith Fund Awards put the spotlight on direct property, infrastructure and exchange-traded funds. The inclusion of these categories reflects the growing importance of each sector and the increased interest among financial planners in using property and infrastructure in diversified portfolios; and in using exchange-traded funds to
September 20, 2013
Grandfathering, exemptions need to be documented
Licensees, product issuers and their representatives who rely on grandfathering and exemptions from the Future of Financial Advice ban on conflicted remuneration will need to document their positions under the Australian Securities and Investment Commission’s new proposals. Firms without formal records covering these issues will have an uphill battle demonstrating compliance should the regulator come
September 20, 2013
New income stream for Matrix
Matrix Planning Solutions’ foray into funds management is yielding returns, with the dealer group recording strong performance, growth in assets under management and a healthy income from investment management fees. Matrix worked with funds manager Russell Investments to develop the Partnership Funds, which earn the dealer investment-management fees. The five actively managed portfolios, which were
September 19, 2013
Retirement-savings disaster looms
A new report by HSBC shows the planet is headed for a retirement-savings disaster, with 579 million retirees around the world dependent on government benefits for 37 per cent of their retirement incomes, on average, and an additional 1 billion people set to retire by 2050. Australian retirees depend on state pensions and benefits for
September 19, 2013
