Going into 2013, I'm significantly more positive about the outlook for US growth, notwithstanding the fiscal cliff, while I think China will continue to to grow at around 7%.

This PortfolioPick discusses what in Lonsec's view is a common error being made in the Australian equities sector of portfolios - a gravitation to extremes.

This month, a younger and better educated generation take power in China.

Obama is back in, attention has turned to the fiscal cliff. Can we just ignore the economy and get on with investing?

How governments will reduce debt is the subject of considerable debate. One option seems most likely.

Africa's economies are among the fastest growing in the world. Is it the next China?

The key takeouts, and actions to take when building investor portfolios.

Seven areas where thinking outside the box may lead to different portfolio construction decisions.

Challenging a strong home bias to Australian equities in portfolios.

Are alternative investments as complex as them seem - and how can the optimal mix be implemented in portfolios?

Globalisation, the rise of China and technology have profoundly increased competitive pressures on business. This dynamic is critical in equity investment...

By focusing on investors’ primary objectives (capital preservation and a reasonable return), a more efficient investment approach is possible...

Fixed income investing for the future will need to be different from the past in order to maximise portfolio outcomes...

The short- and long-term structural factors remain intact to drive Asian stock markets...

Treating emerging markets as a single asset class can underpin long-term capital growth, preservation of capital and lower volatility of returns...

Every investment management firm claims it is different from its competitors. Yet many firms produce results that are anything but different. What does it mean to be contrarian?

Unlisted property is well-suited to the mood of investors – it should provide a return derived largely from income. The issue is the scars of the past...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Steven Halmarick shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, PIMCO's Bill Gross shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Hamish Douglass shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Anthony Bolton shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Dr Woody Brock shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Cliff Asness shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios.

What are the implications for portfolios, of China's leadership change and the political and economic challenges in the US and Europe?

MPT is not broken, it has just been (badly) misapplied for the past 60 years. Appropriate use of MPT can lead to more efficient risk/return trade-offs...

This 2012 Conference session showed that major investment risk events occur in clusters, and focused on how to prioritise risk to achieve better investment decisions.

Managed futures strategies can aid diversification.

Dividend-yield strategies have outperformed in up and down markets, making them more of an all-weather approach than many may think...

The process of reallocation to EM bonds is likely to accelerate, creating more liquidity and stability, and adding to their attractiveness for retirement income needs...

Global tactical asset allocation is a strategy that is well tailored to the new paradigm, generating excess returns with low volatility in both bull and bear markets...

The deleveraging cycle is creating a conundrum for investors and asset managers. Investors want more income but with less risk...

Exploring how to augment traditional portfolio construction techniques though better understanding of how asset classes' correlate in particular bonds and equities...

With unprecedented political risk, debt, and economic restructuring around the world, our expert panel debated the portfolio construction implications.

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Dr Joanne Warner shares her views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Michael Hasenstab shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Prof Jack Gray shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Alan Brown shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Prof Amin Rajan shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Different (and difficult) times call for different approaches to portfolio construction - in this thought piece, Prof Toby Moskowitz of Chicago University shares his views on tHiNkInG oUtSiDe ThE bOx about building portfolios...

Key takeouts from the Conference Masterclass 2012 program, and actions to take when building investor portfolios.

How a privately-owned, self- licensed advice firm transformed to ensure a win-win for clients and the business...

What does best practice asset management look like from an adviser's perspective?

Advisers who wish to attract HNW clients must provide a viable and effective value proposition to SMSF members - and that may mean developing a new advice framework.

Defensive portfolios face two permanent risks – interest rate risk and inflation risk. Managing these should be the highest priority of any defensive portfolio...

Developing a scalable and efficient advice proposition means transforming every aspect of the business – from client communication, compliance, staffing and profitability...

Michael discusses how his firm combines portfolio diversification with active portfolio management, to ensure client's goals are met.

Many practitioners want to manage their clients’ asset allocation more proactively (not tactically!) but find the implementation issues confusing...

This Academy Seminar debates the following three topics in a Socratic learning environment: Better the devil you know; Demystifying quantitative equity investing; and, Investment Fables IV - Growth.

A pick of the investment bunch, as identified by research house Lonsec for you to consider for your Approved Products List.

There are really only two words to discuss - Greece and Spain - and the implications for Australian cash rates, bond yields and equity markets - and, of course, portfolios.

This Due Diligence Forum Research Paper and Presentation examine why infrastructure assets have performed differently to other investable assets (and whether we can expect this to continue), how this performance can be linked to underlying asset characteristics, and how investors can use some of the unique attributes of infrastructure to improve portfolio returns...

This Due Diligence Forum Research Paper and Presentation argue that strategic asset allocation should be determined with a long-term horizon in mind - so the key input in the construction process is the long-term return outlook for different asset classes. To help inform that judgment, we should consider returns through three separate lenses: - what did happen, what theory says should have happened, and what the market is pricing will happen.

This Due Diligence Forum Research Paper and Presentation examine the various income options available to NZ retail investors, and look closely at the extent to which they are being appropriately rewarded for the risk posed by various income products including hybrids...

This Due Diligence Forum Research Paper and Presentation focus on how to construct multi-manager global share portfolios in a way to reduce the overall risk of the portfolio without dampening or reducing the overall expected outperformance of the underlying managers...

In this Workshop, two full-time research professionals demonstrated how they would design a portfolio for a real investor, based on a real world portfolio construction case study submitted by one of the Symposium delegates...

As with debt portfolios, many advisers are designing and building direct equity portfolios of NZ and Australian equities. In this Critical Issues Forum, our presenters had 15 minutes each to argue their case - one for using passive direct equities via ETFs when building NZ/Australian equity portfolios and the other for using active managed funds...

This Critical Issues Forum discussed the key macro-economic and geopolitical issues we cannot afford to lose sight of in constructing portfolios, before turning to the current status, key issue and outlook for global equity markets...

Many New Zealand advisers are designing and building debt portfolios by buying bonds direct. Our two presenters had 15 minutes each to argue their case - one for building direct debt portfolios and the other for using active managed funds.

MPT has been misapplied for the past 60 years. In this Critical Issues Forum, Michael Kitces argued that markets are not efficient, but they are adaptive - so appropriate use of MPT requires forward-looking projections. This requires more work to apply effectively, but can lead to portfolios that are more efficient and give better risk/return trade-offs.

The tectonic plates of the world economy are shifting. This Critical Issues Forum argued that Europe is not just in a financial crisis, but also a social, political and demographic decline. Will the Euro break up? Can Asia save us?

The average active Australian equity manager aims to deliver 3% to 4% alpha per year - so it's quite out of the ordinary for a manager to target 8% alpha pa...

This Academy Seminar debates the following three topics in a Socratic learning environment: Investment fables III - Value; What does financial success look like in retirement; and, Turning micro China observations into macro insights.

The prevailing expectation is that we’re in for a period of lower returns and significant volatility. In this exclusive interview, Michael Turner, Head of Quantitative Research & Analysis with FRM in London discusses how a CTA fund can contribute to portfolios in such an environment...

This Academy Seminar debates the following three topics in a Socratic learning environment: Investment fables II - Momentum; Making sense of Markets Summit; and, Developing a robust philosophy and policy...

The Hot Topic Debate at the 2012 Markets Summit focused on the case for and against including gold in portfolios. Is gold a good means of portfolio diversification and protection, as well as a hedge against inflation and currency depreciation? Or is it, as those in the opposing corner argue, that the last decade is an anomaly for gold and it has no place in portfolios...

The inaugural Peter L Bernstein Memorial Lecture at the 2012 Markets Summit focused on Zombie Economics. The GFC exposed the flaws in many of the assumptions behind market liberalism - in most cases, problems were evident well before the GFC, but those who pointed them out were dismissed or ignored. These dead ideas still walk among us...

This session helped delegates determine the key takeouts from the Markets Summit, and actions to take when building investor portfolios...

This Asset Class Forum session at the 2012 Markets Summit saw our presenters and Inquisitors debate the outlook for the Australian debt and equities market, REIT market, Asian equities market and global commodities market, and the portfolio construction implications...

The 2012-2014 outlook for the global commodities market versus cash, the risks and opportunities, and portfolio construction implications...

The 2012-2014 outlook for the Asian equities market versus cash, the risks and opportunities, and portfolio construction implications...

The outlook for the REITs vs cash, risks and opportunities, and portfolio construction implications...

This Asset Class Forum session at the 2012 Markets Summit focused on the 2012-2014 outlook for the Australian equities market, including the most likely scenario, performance v cash, risks and opportunities, and portfolio construction implications...

The 2012-2014 outlook for the Australian debt market, versus cash, the risks and opportunities, and portfolio construction implications...

This Big Picture Forum session at the 2012 Markets Summit saw our presenters and Inquisitors debate the outlook for the global developed market (DM) and emerging market (EM) equities markets, and the portfolio construction implications...

The 2012-2014 outlook for the global emerging market equity markets, risks and opportunities, and the portfolio construction implications...

The 2012-2014 outlook for the global emerging market equity markets, risks, opportunities, and portfolio construction implications...

This Big Picture Forum session at the 2012 Markets Summit saw our presenters and Inquisitors debate the outlook for the global economy and global debt markets, and the portfolio construction implications...

The outlook for the global debt markets relative to cash, risks and opportunities, and portfolio construction implications...

The 2012-2014 outlook for the global economy with particular emphasis on the US and Europe, key scenarios and portfolio construction implications...

This subscriber-only area gives you access to the recording of the quarterly farrelly's subscriber webinar in which principal Tim Farrelly explains the thinking behind the quarterly update to the Proactive Asset Allocation tool set.