Following is a list of Markets articles published on PortfolioConstruction Forum throughout 2005...
Watching the market react to economic data is really about watching the human beings that constitute the market react with fear and optimism to normally mixed messages. 2006 is shaping up to be the year of volatility...
In a move that can only be taken as a massive victory for hedge funds and their major promoters, the global investment banks, the Australian Stock Exchange has announced changes to the rules requiring disclosure of the identity of brokers behind buy and sell transactions...
Emerging markets have been out of favour with mainstream investors since the series of financial shocks in the late 1990s that culminated with the default by Russia on its sovereign bonds in 1997. So what has changed since then, to bring emerging market debt back into favour (with a number of new products being released that provide exposure to emerging market debt)?
How would a global bird flu pandemic affect financial markets? If past history, including the effect of SARS in 2003 is anything to go by, the effect would be significant...
With the Aussie stock market at or near record highs over the last few months, investors are increasingly confused about what type of equity portfolios they should be designing for their clients. Defensive stocks have made way for a profound switch to cyclicals (with resource stocks predominant). But as global inflation worries raise questions about the longevity and depth of the resource boom, style is again becoming a key direct investing issue...
As the great Australian icon Norman May used to say, the economic news this week is all about "Gold, Gold, Gold". Sure, Nugget May was talking about our Aussie Olympic athletes, but in the context of the market there's definitely some important guidance here for Aussie investors...
The outlook for Asia-Pacific sovereign credit ratings for the remainder of 2005 remains mixed...
At this week’s PortfolioConstruction Conference, HFA Chief Investment Strategist Jonathan Pain will present a compelling review of the prospects for world equity markets – in fact, he'll present twice, firstly the case for a global equities bull market, and then the contrasting case for a global equities bear market…
The global growth story may well be a vital contributor to client’s wealth – and your practice – for the rest of 2005 and into 2006…
Since their introduction to – and initial acceptance by – the Australian financial planning industry, hedge funds have probably not delivered the returns promised. This article explores other reasons why hedge fund returns may have been lower than expected., the market conditions needed to generate returns, the current environment for hedge funds, and the outlook for sector...
After months of presenting a pessimistic outlook for the US and recommending defensive investment exposures, global investment heavyweight Standard & Poor’s (S&P) has this week made “substantial changes” to its US investment outlook for the second half of this year…
Dow Jones Indexes has launched the Dow Jones Australia LPT Index, which tracks the performance of the Listed Property Trust (LPT) securities traded on the Australian Stock Exchange. The index will provide investors with a transparent and objective tool to measure an investment class that has outperformed the major equity market indexes in recent years…
In this update: Asian share markets rose on the back of the US market rally which saw US stocks rise to a three-month high, China's trade surplus peaked in May while industrial output and investments grew strongly, foreign investors can now own up to 26% of local Indian media companies, Singapore's non-oil exports fell unexpectedly in May, and Philippine sovereign bonds retraced the prior week's losses while Korean bonds fell - plus country-specific news for Japan, Australia, China/HK, India, Indonesia, Korea, Malaysia, Singapore, Taiwan, and Thailand...
Global investors are continuing to pour money into emerging market bond funds, with year-to-date inflows passing the US$3 billion mark during the second half of May…
After enjoying strong above-average returns from the Australian sharemarket over the past two calendar years, the Australian equity market provided negative returns in both March and April 2005 – the first time in over two years we’ve seen consecutive months of negative returns. So which fund managers can be expected to outperform in falling markets?
Australian shares and listed property trusts have outperformed residential investment property over 10 years ending 31 December 2004, according to the latest ASX Investments Report…
Distressed debt is one asset type beloved of hedge funds. There are four distinct types of distressed debt, and each carries unique risks and rewards, says Mercer Investment Consulting, warning that this event-driven style is not as homogenous as the definition indicates…
Rising interest rates and a resurgence in oil prices proved difficult headwinds for Australian superannuation funds in the March quarter, according to research released by Intech today…
A few years back, Roger Gibson offered a very simple four-part matrix to help advisers determine what they believe about investing. Some commentators are now rethinking one quadrant which they used to reject out of hand...