Looks like there’ll be a fair few redemptions coming up for ING’s and maybe even UBS’s managed funds because today ING have sold their Australian funds business to UBS. This is no comment on the quality of either team, but there is bound to be some unrest over the coming months as teams are merged and …
Category Archive: Managed Funds
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Apr 14
A lack of Global Small Cap investing???
International equity small-cap stocks widely outperformed large-cap stocks over the year to September 2010, returning 24.4 per cent and 12.7 per cent, respectively in US dollar terms. I took the above from today’s InvestorDaily email and whilst the fact that global small cap outperformed large cap is not surprising, as it is bound to happen …
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Mar 22
The Best Australian Share Funds don’t achieve their Alpha Targets
Source: van Eyk, Morningstar The above chart contains some performance statistics of a list of Australian share funds with at least a 5 year track record and were awarded an A-Rating by van Eyk this month. The A-rating is the second highest possible rating van Eyk award with the highest being AA…no Australian share fund achieved an AA …
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Mar 16
SPIVA Report – Active Managers Bad Year
My favourite investmnent returns report was released yesterday by Standard and Poors, their SPIVA Report. Its my favourite because unlike other investment return analysis/reports, this report takes into consideration investment fund survivorship. As many of us know, when an investment fund continues to underperform it typically closes never to be seen again and the reports …
Dec 16
Fee for service responsible for increased passive investment???
A change in adviser remuneration structure is causing a structural shift in asset allocation away from active products towards more passive products such as exchange traded funds (ETFs) and passive funds, according to Fidelity Investment Managers. The above paragraph, taken from Money Management’s daily, isn’t quite true. Whilst I believe adviser remuneration restructure has some impact on …
Nov 30
My Least Favourite Hedge Funds
I’m always being approached by fund managers pitching their latest or greatest fund and many of them appear quite good with impressive people, performance, and/or process. Every now and then I see a fund that to me makes little sense and the latest to annoy me is the generic Asian Fund of Hedge Fund…I haven’t …
Sep 04
Active versus Passive net cash flow
I found the above chart in an article at marketwatch.com and it shows the net cash flows of both active and passive managed funds in the US over the last 10 years. As can be seen, whilst passive funds (or index funds) have had positive flows every single year, actively managed funds have had massive …
Aug 20
The often forgotten risk of active funds management
On Wednesday of this week (18 August), the portfolio management team of 452 Capital announced to Colonial that they are calling it quits (at an undisclosed date) and will no longer be managing their Australian Equity Funds. So of course, the Research Houses downgrade their ratings to Sell, Redeem, Hold etc (we moved to Sell) …