Following is a list of Products articles published on PortfolioConstruction Forum throughout 2003...
While traditionally agribusiness is a topic that clients tend to think about only as tax time approaches, agribusiness investments can play a greater part in portfolio construction than merely being a tax consideration. We asked two agribusiness research houses for their opinion about individual projects... Full Story >
When will the Australian Taxation office issue product rulings, and under what circumstances does it withdraw them? These were two of the issues canvassed by Gary Hammersley, national business manager with the ATO when speaking at the recent Lonsec Agribusiness Conference. Hammersley contends the ATO tries to look at issues from the taxpayers perspective... Full Story >
How does agribusiness perform when compared with other asset classes? It was the hot question of the day at the recent Lonsec Agribusiness Conference... Full Story >
Given the long-term timeframe of superannuation investors – 20 or 30 years – and the long-term nature of many agribusiness ventures, the two make a good match, says Frank Delaunty, managing director of Dirt Management Agricultural Investment Managers, managers of Warakirri Agriculture, in explaining his product to attendees at the recent Lonsec Agribusiness Conference... Full Story >
Research opinion on Asian equity funds was thin on the ground from research houses, with Lonsec, S&P, and IWL the noteable exceptions, while Zenith provided a coherent rationale for why it doesn't rate individual funds in the sector, and doesn't think advisers should either. Interestingly, given they also research direct equities, both IWL and Lonsec both agreed that the use of managed funds for international equities exposure is a preferred strategy over direct equity investments... Full Story >
The bigger the better, right? Fund size, that is. The sentiment is understandable, but those adhering to it might be disappointed. Conventional wisdom in the funds industry suggests that the larger the fund, the harder it is to achieve excess returns, and a recent paper from Lazard suggests this is more true for growth managers, than value managers... Full Story >
In the US, more than half of all equity funds are managed by a team, leaving a lot of solo "star" managers. US-based Bloomberg Wealth Manager recently highlighted a US study looking at which performs better - solo managers or investment teams? Full Story >
Boutique managers are becoming increasingly popular, but do they add value? Yes and No, according to van Eyk Research managing director Stephen van Eyk in his presentation to the recent inaugural meeting of the Portfolio Construction Forum Researchers’ Roundtable. The following article summarises Stephen's rationale, and links to his presentation, including performance analysis of more than 30 boutique, medium and large Australian equity fund managers. Full Story >
