Not all AREITs are created equally

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The 12 months to 31 May 2019 were positive for Australian Real Estate Investment Trusts (AREITs), with the S&P/ASX 300 AREIT Accumulation Index returning 14.3% and the FTSE EPRA/NAREIT Developed $A (Hedged) Index returning 10.6%. Despite this overall result, the last two years have proved challenging for many of Zenith’s rated active fund managers, particularly […]

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Equity duration: An oxymoron or an important portfolio exposure?

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Duration, despite being a common measure within the fixed income community, is a relatively foreign concept when it comes to equities. However, the latest research from Zenith Investment Partners shows that considering equity duration can be a powerful tool in constructing investment portfolios. Duration is the length of time required for cashflows from an asset […]

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Zenith Sector Review: Not even Marty McFly can avoid periods of drawdown

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Investors focused on short-term performance will no doubt be disappointed with the underperformance of the Australian Shares long/short sector. However, research by Zenith Investment Partners shows that it is very difficult to produce superior investment outcomes without periods of short-term relative underperformance. Take Marty McFly, every movie buff’s favourite time traveller. Even if he travelled […]

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Listed Infrastructure delivers during recent downturns

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Global Listed Infrastructure (GLI) funds have once again proved their defensive capabilities in the face of equity market volatility according to Zenith Investment Partners 2019 Infrastructure Sector Report. The sector delivered solid absolute performance for the year ended 30 April 2019, with the FTSE Global Core Infrastructure 50/50 $A (Hedged) Index returning 14.8%. Zenith’s Head […]

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AFI bond managers strongly positioned to navigate unchartered territory

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In an environment where macroeconomic and geopolitical uncertainties have weighed heavily on investor sentiment, Australian Fixed Interest (AFI) bond managers have continued to demonstrate their resilience and produce strong risk-adjusted returns. For the 12 months to 30 April 2019, the median manager in Zenith’s AFI bonds sub-sector produced a net return of 7.2%, broadly keeping […]

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Liberal win a boost for LIC’S

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Listed Investment Companies (LICs) have dodged a political bullet with a Coalition victory over the weekend according to Zenith Investment Partners. Dugald Higgins, Zenith’s Head of Property & Listed Strategies said “For a sector that has raised $11.7 billion dollars of new investor capital over the last five years, a Labor win could have posed […]

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Zenith expands into offshore market

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Zenith Investment Partners (Zenith) has entered into a conditional sale and purchase agreement with NZX Limited to acquire New Zealand’s leading research business, FundSource, as it expands into offshore markets. FundSource is one of New Zealand’s longest standing investment research houses, having supplied analysis to financial advisers and fund managers since 1983. FundSource is a […]

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Smaller companies are higher beta, but they need not be

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From time to time, the market reminds us of the inherent volatility of equities as an asset class. The December quarter of 2018 was a clear example of this, with the S&P/ASX 300 Index falling 8.4%; its largest quarterly decline since September 2011. However, the quarter was even tougher for smaller capitalisation stocks, with the […]

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Market Neutral still a diversifier despite a tough 2018, says Zenith

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With Australian equities performing solidly and consistently in recent years, the negative 2018 calendar year served as a sharp reminder that alternative sources of returns can be an important diversifier of a portfolio. However, alternatives in the form of Australian market neutral funds largely turned in a relatively disappointing performance over 2018, with Zenith’s rated […]

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China A-Shares diversifying emerging markets investment universe, but with higher volatility

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The inclusion of China A-Shares in major indices will materially increase investment opportunities for active fund managers, according to Zenith. China A-Shares are a class of stocks listed on two Chinese stock exchanges (Shanghai and Shenzen) that provide a more open channel for foreign investors to access Chinese listed companies. Furthermore, the Chinese stock market […]

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