CPD: When bits meet atoms

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In this third of a three-part series penned by Epoch Investment Partners, the ‘tech is the new macro’ theme is explored further to consider the implications of the second machine age for corporate profitability. Part two of the series focused on technology’s implications for the macro outlook, particularly employment and wage growth, as well as inflation […]

CPD: Changing the shape of retirement

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Using prospect theory to align retirement design with real world outcomes Introduction Most people are aware that buying lottery tickets makes no sense. From a rational assessment of risk and return, the value of the ticket is probably less than the paper it’s printed on. And yet despite this, the lottery ticket industry continues to […]

CPD: Value beyond the PE multiple

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Most investors think of a company’s PE multiple as defining its value. A stock on a PE multiple of 12x is cheap and one on 24x must be expensive. But is it? Bennelong Australian Equity Partners considers some of the blind spots inherent in the friendly PE multiple, and some of the investment opportunities this […]

CPD: The investment challenge – balancing longevity and sequencing risk for Australian investors

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For many Australians, the primary goal of investing is to accumulate sufficient assets to fund a comfortable retirement. Whether it’s joining the grey nomads travelling the Australian countryside, seeing more of the world or spending quality time with the grandkids, each and every Australian has plans for their retirement. Throughout the savings journey, the investment […]

CPD: Is infrastructure a bond proxy?

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Inflation looks to be very slowly emerging from a long slumber and interest rates are heading north. This has significant implications for the world’s economy and global equity markets. For global listed infrastructure in particular, the prevailing ‘wisdom’ is that infrastructure as an asset class is no more than a ‘bond proxy’. The rationale is […]

CPD: Estate planning in 2018

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There’s nothing certain in life but death and taxes, so the adage goes…however, another certainty is change – particularly when it comes to the financial services regulatory landscape. In the past year there have been several changes that may have impacted your clients’ estate planning strategies, and more change is in the wings. In this […]

CPD: Digital enterprise – the future is here

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As businesses across all sectors grapple with digital disruption and race to embed technology across all facets of their business, a number of technology providers stand to benefit. In this article, Grant Samuel Funds Management examines digital enterprise and looks to its investment partner Munro Partners, which has adopted ‘digital enterprise’ as an Area of […]

CPD: The bank of Mum and Dad

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It’s a recent addition to the lexicon, but this phrase has become widely used and is one that a growing number of Australians can relate to. In this article, Centuria examines the rise of the ‘Bank of Mum and Dad’ and looks at strategies to help your clients avoid dipping into their savings to help […]

CPD: Back to the future: the return of the ‘old normal’

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Grant Samuel Funds Management’s latest recruit, Advisor Stephen Miller, reflects on the recent volatility in the equity and bond markets following the re-emergence of inflationary pressures. He looks to the past to explain that, in fact, it’s not a new paradigm, rather, the return of the ‘old normal’. I remember full well the day I […]

CPD: Going up – what high inflation means for listed real estate

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Markets were roiled in February as investors worried that higher wages will lead to accelerating inflation. Bond yields acted accordingly. So, if higher inflation was to return, how would real estate perform? New year, same news? The beginning of the calendar year brings with it the usual commentary: ‘interest rates will normalise’ and ‘the bond […]