DFSPS Insights: Portfolio Returns – where to from here?
Over the last decade, the FE Balanced Index (a Balanced portfolio proxy) generated a real (after inflation) return of 4.7%pa. [...]
27
05, 2022
18
12, 2020
International Equities: active vs multi-manager vs ‘smart-beta’ strategies
The featured chart plots the rolling 5-year excess returns and active risk (aka tracking error) outcomes of: (i) MSCI's factor [...]
1
12, 2020
International equities: where’s the Value ?
Further to our recent post on Sector Valuations which looked at the current & historical CAPE leveIs of MSCI equity [...]
27
11, 2020
International Equity Exposure: pick the strategy ?
The Accumulation chart decomposes the strategy's returns into: (1) market returns [yellow]; (2) factor returns [grey]; and (3) non-factor (alpha) [...]
26
11, 2020
Sector Valuations: MSCI World Ex-Australia
Being primarily interested in longer term valuation metrics, the CAPE ratio applies real earnings per share (EPS) over a 10-year [...]
14
10, 2020
Australian Equity Models: time to get more active
The relevance of active management The relevance of active management continues to be questioned, particularly under conditions awash with liquidity. [...]
14
10, 2020
Australian Equities: Active Risk v Excess Returns
Australian Equity Models: Managing Risk & Return Outcomes The chart looks at the risk & return outcomes of factor based [...]
8
04, 2020
Speaking of Alpha Generation
The charts show the average non-factor returns (commonly referred to as idiosyncratic returns or alpha) generated by our short-listed Australian [...]
7
04, 2020
Taking A Look At the Latest CAPE Valuations
Each quarter we update the equity valuations of the markets we invest in. Being primarily interested in longer term valuation [...]
6
04, 2020
Risk Spikes by 400%+ Across Growth Assets & 100%+ Across Defensive Assets
Each month, we monitor the risk levels of each sector we invest in, with the recent spike being nothing short [...]
30
03, 2020
To de-risk or to hold…that is the question
The question for many investors is whether to hold their portfolios or to de-risk by selling into the recent rally. [...]
17
03, 2020
Active Strategies Set for 2020 Vision
Summary Our 2019/2020 Australian Equity Review covered 153 strategies 101 strategies were screened out due to inconsistent and/or insufficient risk-adjusted [...]
20
12, 2019
2019/2020 Australian Equity Review
A year that most Active equity strategies want to forget If you thought 2018 was a bad year for active [...]
29
11, 2019
An inverted yield curve, with a twist?
Further to our recent post, titled: Yield Curve Inversion: Time for Prudence, the chart below looks at the US cash [...]
12
11, 2019
ACTIVE, PASSIVE or FACTOR INVESTING ?
Active, passive and factor investing each have important portfolio construction roles to play. Passive and factor-based investing enable the systematic [...]