Macro issues always play a key role in investment decisions, but it’s fair to say that globalisation was always considered a fixture within most investing frameworks, rather than an assumption that was up for debate. Open markets, freely flowing capital, and the free movement of people were the established norms of the global economic system. […]
Markets didn’t blink in May continuing their upward trajectory buoyed by accommodative policy settings for risk assets. Many investors have been left scratching their heads given the poor economic outlook and increased geopolitical tensions, coupled with civil unrest in the US. However, what it does tell us is that markets like liquidity. This is not […]
In this episode of Market Narratives, Lonsec’s Chief Investment Officer, Lukasz de Pourbaix, tackles a range of controversial topics and their implications for portfolio construction. Is this the new normal or merely the continuation of what have now become conventional policy responses? Is there wisdom in crowds, or is there persistent overvaluation in popular stocks […]
During our previous Asset Allocation Committee meeting we expressed a desire to further diversify our exposure to credit securities within our portfolios. This view was driven by the significant pull back in credit markets in March, which Lonsec believes provided an opportunity to enter certain parts of the credit market, such as syndicated loans, which […]
April saw a rebound in risk assets as markets were buoyed by the prospect of economies slowly reopening for business as the number of new COVID-19 cases appear to have passed their peak in many key economies around the world. Markets were also supported by ongoing policy actions from central banks and governments, which has […]
There has been much debate as to whether the market has reached its bottom. Trying to pick market inflection points be it the top or bottom range of the market can be difficult in the best of times. The last two months have felt like an eternity not only in terms of markets but from […]
Lonsec’s experts look at four key themes we believe every financial adviser needs to understand to help their clients weather the storm and be in the best position possible to take advantage of future market conditions. Bonds Lukasz de Pourbaix, Executive Director & Chief Investment Officer Providing insight into current market dynamics and performance-driven by […]
When the COVID-19 crisis hit financial markets, we decided to hold more frequent Investment Committee meetings and provide you with regular updates on our thoughts and discussions from a portfolio perspective. The following is a summary of the discussion and actions taken at our most recent meeting held on 7 April. As you know, Lonsec’s […]
With Lonsec now holding more frequent Asset Allocation Investment Committee meetings, CIO Lukasz de Pourbaix provides an update from his virtual office at home on the outcome of Lonsec’s out-of-cycle meeting held this week. Whilst Lonsec’s overall asset allocation positioning has been the same for some time, the committee members decided this week that this […]
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