Podcasts about ce cpd

In this episode, Alliance Podcast Task Force member Milini Mingo, MPA, CHCP, interviews the presenters of the Alliance 2025 Annual Conference session “Practicing What We Preach: Inspiring Lifelong Learning, Well-being, and Joy at Work!” Listen in to her conversation with Vickie M. Skinner, DHA, CHCP; Jennifer Ipsen, MS; and Lauren Winters, MA, as they advocate for incorporating well-being principles into CE/CPD programming. Then, check out their Friday, Jan. 10 session at the Alliance 2025 Annual Conference in Orlando, Florida.  || LINKS *Alliance Websites* https://www.acehp.org/ | https://almanac.acehp.org/ | https://www.acehp.org/Annual-Conference/Program

The top 20 stocks comprise 63% of the ASX200, and the index is heavily skewed towards banks (20.9%) and iron ore miners (14.8%). Given the expected negative growth in the banking sector and the vulnerability of iron ore prices due to a weak demand outlook, Australian equity markets could well be anchored by the 'dinosaur seven'. With inflation at a two-year low but still well above the RBA's target rate of 2% to 3% and rate cuts still uncertain, the outlook for Australian equity markets continues to look volatile. Investors seeking diversification, reduced volatility, and higher unique alpha over the long term should explore opportunities beyond the ASX20, focusing instead on the Ex-20 index. This index provides exposure to Australia's future rather than its past and is forecast to have 7.8% EPS growth pa over the next three years. - Dion Hershan, Yarra Capital Management. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

The COVID pandemic was a natural disaster, yet the two-pronged stimulus response of monetary and fiscal policies was designed for an economic crisis worse than the GFC. The combination of the pandemic and the policy response resulted in a surge in economic and inflation volatility from 2020 to 2023. We are now entering a new phase where this economic cycle will mean revert to a traditional business cycle - a cycle that may not exactly repeat but will rhyme with prior inflation cycles. Opportunities exist in global bonds in 2024 and 2025 no matter hard or soft landing outcomes – including US Treasuries, US Agency MBS passthroughs and select local currency emerging market bonds in Latin America. - Jack McIntyre, Brandywine Global.  Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

It's the year of the vote. A record-breaking 40-plus countries - some two billion people (more than 40% of the world's population) representing over 60% of global GDP - will hold national elections in 2024, more in a single year than ever before. Yet authoritarianism and illiberal ideas are on the march globally, driven by the rise of strongman autocrats such as Vladimir Putin and Xi Jinping, and identity politics in the West. In such an environment, deglobalisation of the world economy, which accelerated during the Covid-19 pandemic, seems set to continue, exacerbated by supply chain challenges that echo past lessons unlearned. In the context of a challenging environment for liberal democratic societies, investors must understand the geopolitical, social and economic forces influencing the outlook for investment markets. This panel session features three investment experts, each offering and debating a high conviction thesis on a long-term, deep rooted structural change impacting markets over a decade or more - Oliver Hartwich, Chris Rogers and Vikram Mansharamani. Earn 1.00 CE/CPD hrs on Portfolio Construction Forum

Second term presidents tend to be more ideologically aggressive, since they are freed from the need to face voters again. At a minimum, a Trump 2.0 administration would likely boost traditional energy, defence, and financial services, among other sectors which would benefit from lighter regulation. Meanwhile, Trump's "America First" trade policies could be inflationary and further increase US tensions with China, given Trump's promise to revoke China's Most Favored Nation trade status it has enjoyed since 2001. Investors globally need to think through the implications of a second term for either candidate. - Libby Cantrill, PIMCO. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

There's no such thing as "normal" for supply chains. The challenges for 2024 and 2025 that have echoes in the past include logistics network disruptions, geopolitical risks and the cash costs of environmental policies. That makes investing in supply chain security more important than ever. However, there's evidence that firms are scaling back spending on two of the three most important resilience-building measures. Companies' under-investment in supply chain resilience doom them to repeat past disruption failings. - Chris Rogers, S&P Global Market Intelligence. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

- Jonathan Pain, The Pain Report. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

With Australia's residential vacancy rate at a record low and net overseas migration at a record high, it has never been more apparent that Australia needs a long-term housing solution to help expand supply. With rigorous capital provisioning models placed upon major banks following the GFC, the banks can no longer participate in the market like they used to, providing greater opportunity for real estate private credit lenders to fill the gap. This all combines to help generate attractive risk-adjusted returns for investors in the asset class. - Mark Power, Qualitas. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

There's much to learn from history, but every time is different when it comes to markets. Inflation in the 2020s has been very unlike that of the 1970s. The inevitable recession that did not occur was likely prevented by unprecedented fiscal stimulus. Going forward, short-term interest rates will likely fall, but long-term rates might rise. Equities are unlikely to revisit the frothy heights of 2021 and market breadth should widen. As cyclical inflation subsides, structural price pressures driven by reglobalisation and the energy transition will collide with the deflationary force of AI. The backdrop for investing will require investors to identify how the outlook today intersects with our experiences of the past and where it differs. This time is different because every time is different. - Ronald Temple, Lazard. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Contrary to wide opinion, globalisation is not "history" but is being reinvented. Since 2010, rising Chinese nationalism, the Covid pandemic, and Russia's invasion of Ukraine helped bring an end to 30 years of hyper-globalisation. Weaponised interdependence and the derisking of global supply chains mean location matters again. Rather than relying on highly-efficient global supply chains, governments and firms must now carefully consider how they source resources and goods – whether it's energy, semiconductors or electric vehicles – as well as risks and vulnerabilities in the US dollar financial system. For investors, a less interconnected world has significant implications for corporate capital expenditure and country allocation. - Kevin Hebner, Epoch Investment Partners. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

Changes in central bank thinking, higher inflation volatility, and a reversal of the global savings glut are creating an investment environment like that of the pre-Global Financial Crisis period – in which interest rates remain higher for longer and central banks make more frequent policy adjustments, to keep inflation under control. In such an environment, bonds will offer higher levels of both income and diversification, within a multi-asset portfolio. - Chris Iggo, AXA Investment Managers. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

The Investing Roundtable explored key challenges and opportunities in multi-asset, multi-manager portfolio construction that practitioners should be thinking about, given they can do anything, but not everything! Our research analysts each articulated a challenge or opportunity related to researching and identifying quality investment management solutions that they believe portfolio construction practitioners should be thinking about when building quality multi-asset, multi-manager portfolios:  If you do anything, consider an allocation to global small cap equities; If you do anything, use returns-based style analysis; and, Don't generalise, it's time to optimise portfolios. - Bronwen Moncrieff, John Laver, Michael Furey and Naomi Finnigan. Earn 0.75 CE/CPD hrs on Portfolio Construction Forum

Private Equity funds are impressive and have great marketing. It would be great if we could "invest in everything", but that is not feasible. Fund selection has massive alpha potential, but it is hard, and only ever investing in top quartile funds over time is virtually impossible. Private Equity pooled returns (weighted average) have historically been attractive, while also less volatile than investing in a single fund or fund-of-funds. A lower cost, efficient and scalable approach to investing, effectively allowing investors to "buy the private market" would be easier and better. An investible index of private market funds would deliver this and complement investors' portfolios in many ways, just like in public markets. - Edward Talmor-Gera, NewVest. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

Why does our industry exist, why do we as industry professionals get up in the morning, how often do you speak with your clients, what about the actual end-client? As professionals we need to stand with our clients and share our voice to ensure risk-aware approaches – and the ability to provide security to our clients' investment journeys – remains part of our investment landscape. We must whole-heartedly embrace risk AND return multi-asset portfolio construction. - Anthony Golowenko, MLC Asset Management. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Every day, every one of us is touched by infrastructure and, the longer we live, the more billions of us there are, and the more we need infrastructure. Driven by a number of macro themes, over the next 17 years to 2040, experts predict we need to invest US$94 trillion in infrastructure just to keep pace with our human needs. This investment has benefits to people and communities everywhere. Demand for essential infrastructure offers opportunities for investors to generate a steady reliable income with inflation protection built in and includes mitigants to a rising interest rate environment. In today's world of uncertainty and volatility, one thing that is certain is the ‘essential' role infrastructure plays in investment portfolios. If you do anything, include infrastructure in portfolios. - Michael Bessell, Dexus. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

While global markets in 2023 have been led by a narrow group of mega-cap stocks, global small caps may be rewarded by the markets going forward supported by faster expected earnings growth and compelling valuations relative to large cap equities. The size and dynamism of the universe allows managers to identify a broad array of small cap companies across geographies and industries with improving company fundamentals and scope for multiple expansion. Stock selection and prudent portfolio diversification, however, are critical as investing in small caps translates to both greater opportunity and risk. - Trevor Gurwich, American Century Investments. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

The unique characteristics of private debt make it ideal for any portfolio. It is a versatile asset class that fits in either the defensive or growth component of an investment strategy – or even both at the same time. It can provide a strong hedge against inflation, increase a portfolio's total return and decrease overall risk. Funds that hold lower risk positions in senior secured or investment grade debt may be a suitable alternative to traditional bonds. Alternatively, funds with exposure to sub-investment grade debt or alternative parts of the capital structure can replace part of an allocation to equities. Either way, private debt's low correlation with other asset classes means it really can give investors just about everything across a full economic cycle. - Andrew Lockhart, Metrics Credit Partners. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

The transition a net zero emission economy offers risks and opportunities for investors. Investors are increasingly seeking to invest in the resource companies and manufacturers whose products are required to enable the world to transition to cleaner energy sources while avoiding businesses with high emissions, due to concerns about asset stranding risk. Infrastructure companies provide access to energy, water and transport - as they always have done - and are generally not viewed as exciting energy transition opportunities. Furthermore, infrastructure screens as high emissions. However, infrastructure sectors are major beneficiaries of the transition and concerns about asset stranding risk are misplaced. Infrastructure is a simple way to benefit from the transition to a net zero emission economy and represents a multi-decade growth opportunity. - Gerald Stack, Magellan Asset Management. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

We are living in the middle of a major societal shift towards not just the usage of, but the reliance, dependence and advancement of our lives being built on technology that seeks to emulate us, mimic us and envelope us. We often talk about human invention through the lens of the industrial revolutions - the first, mechanisation through steam and coal; the second, automation and mass production through electricity; and, the third, computer, automation and systems of record/engagement. We are in a new revolution, the fourth age, systems of intelligence and the AI revolution. - Tidal Ventures' Grant McCarthy and Microsoft's Shane Baldacchino. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

AI has been described as a lever for detaching economic growth from population growth – as important as the steam engine. AI is the latest tool in a wave of disruption that is rolling through all global industries, at a pace that is quickening. Companies that don't use the cutting-edge tools – like AI - to remake their business, as did Amazon, Netflix and eventually Disney, simply don't have a place in today's portfolios, whether index or not, because technology is slashing their useful lives, causing them to derate and increasing their cost of capital. - Alex Pollak, Loftus Peak. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

Further weakening of the global economy continues to be likely with geopolitical, policy and banking sector pressures and the elevated probability of recession in coming quarters. Sitting on the sidelines with cash, however, comes at opportunity costs to investors with current yields at a decade high. The role of bonds in a portfolio can aid in pursuing investor goals or stabilising a portfolio to be more resilient when economic shocks hit markets, however, many investors would benefit from evaluating whether their bond holdings are meeting these goals. Investment-grade corporate bonds offers an important ballast towards overall asset allocation and can improve portfolio risk-adjusted returns. A focus on the highest quality securities will provide opportunities for investors to capture future income, as well as add a defensive anchor within portfolios. - Jeremy Cunningham, Capital Group. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Emerging Market (EM) equities continue to trade at significant discounts to those in Developed Markets (DM). With structural demographic tailwinds, years of relatively progressive interest rate policies and major progress on the ESG front, most EM economies (at least those with a reliable rule of law) are well placed to deliver positive outcomes for investors. Today, many of the leading companies servicing those economies have superior earnings growth to their DM peers with many trading even cheaper than at the height of the Covid market turmoil. Are valuation driven investors breaching their own defensible investment philosophy by not holding a standalone exposure to EM equities? - Ross Cameron, Northcape Capital. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Warren Buffett famously said, "in the short run the stock market is a voting machine but in the long run it is a weighing machine" - what gets weighed are fundamentals, specifically earnings. Brokers hire a great many analysts to write and publish detailed analysis on corporate earnings forecasts. These individual forecasts are combined to create consensus median estimates on what a company is expected to earn in 12 months' time. It's right to focus on earnings, but the level of delivered growth is less important than the surprise in growth, the amount by which a company beats or disappoints relative to expectations. Equity factors focused on fundamentals deliver better outcomes - and given the uncertainty in the current environment, the Quality and Low Volatility factors can capture better earnings surprise when the overall market disappoints, providing protection in an equity allocation. - Ram Rasaratnam, AXA Investment Managers. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

The market and economic backdrop is making diversification in a global equity allocation difficult. Market cap indices are narrower than any time in history, as the market and active managers flock to the mega caps perceived as logical winners from the AI revolution. As markets become narrow and expensive, core, growth and quality portfolios are converging. This presents risks for many portfolios but a great opportunity for valuation-focused investors. While headline multiples are demanding, there remains opportunities in predictable earnings and forecastable cashflow generators that are being overlooked. As valuation and concentration risks rise, doing nothing is no longer an option, particularly when not everything carries the same risks. - Warryn Robertson, Lazard Asset Management. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Many financial commentators have suggested that the strong growth of the non‐bank corporate lending market is a short‐term, cyclical trend that could threaten the stability of our financial system. The growth of the non‐bank market can be explained by a long‐term structural shift toward private capital as banks and public markets have transitioned from serving small and medium‐sized companies to larger companies over the past several decades. For investors, private credit presents an attractive opportunity to add diversification and attractive risk-adjusted returns to portfolios. Characteristics such as yield premium over comparable liquid markets, control, upfront economics and low historical volatility and default rates all make this asset class one to consider for a core allocation in investors' portfolios. - Teiki Benveniste, Ares Australia Management. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Three gigantic, global, interconnected risks have the potential to upend the world as we know it. The rapid acceleration of artificial intelligence, the escalating US-China war and the ways in which it has the potential to catalyse massively disruptive developments in the weeks and months ahead, creating ripples that will impact our world for decades, and challenges to the US dollar's reserve currency status will define the geopolitical, technological, and economic landscape in coming decades. Yet each risk is accompanied by tremendous opportunity. Investors who understand a wide range of potential outcomes for ambiguous developments will be better positioned to successfully navigate the uncertainty plaguing our world. - Vikram Mansharamani, Visiting Fellow at Portfolio Construction Forum. Earn 0.75 CE/CPD hrs on Portfolio Construction Forum

Private markets have long been shrouded in mystery. Many people hold strong opinions about them, but these opinions are often not rooted in facts - due in part to the fact that data on private markets has been scarce, making it difficult to assess true performance. But data is available - and it debunks some of the most common misconceptions about private markets. In fact, the data shows that private markets not only demonstrate more resilience than traded assets during downturns, private equity has also historically beaten public markets, besting liquid equities over most 10-year time periods. Private equity can represent a target-rich environment, the market potential of which studies show is larger compared to publicly traded companies. In all, private markets should not be overlooked by investors. - Hamilton Lane's Mario Giannini. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Traditional performance attribution helps explain past fund performance but is not predictive of future success. In the same way that Moneyball has swept every professional sport, data science is bringing greater transparency into portfolio managers' decision-making skill. Decision attribution, which analyses the buy and sell decisions of individual portfolio managers, helps identify patterns of demonstrated skill - and specific areas for improvement. For portfolio construction practitioners seeking to select managers capable of outperforming, behavioural analysis of fund managers is crucial. - Essentia Analytics' Clare Flynn Levy and Langdon Equity Partners' Greg Dean. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

The young are better able to navigate volatility, uncertainty, complexity and ambiguity, owing to their natural growth and learning mindset. In an environment where investors can do anything, just not everything, we can all benefit from adopting a youth mindset. Young people own their values, are passionate in their activism, use empathy to understand the world, and seek clarity and choices that allow them to be agile and adaptable. Practitioners can incorporate these lessons to successfully navigate a VUCA world, and build better quality multi-asset, multi-manager portfolios for their clients. - Tassos Stassopoulos, Trinetra Investment Management. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

The world has undergone a structural shift from the prior lower for longer regime to an environment of higher (but falling) inflation, higher volatility, and significantly higher interest rates. A shift of this magnitude demands an asset allocation response from investors, and looking in the rear-view mirror for directions is misguided. Instead, investors must consider which assets repriced first to reflect this new regime and which are still playing catch up. At a time when "you can do anything", there are meaningful implications and opportunities for portfolio rebalancing and those investors still structurally underweight bonds need to put aside recency bias and "do something" now. - Rob Mead, PIMCO. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

Markets have undergone a regime shift - and practitioners and investors must change the way they think. To prosper in this regime, we need to embrace the Quantity Theory of Money, appreciate that the US and China are engaged in an economic war, and recognise changes that are occurring in national economies – all of which affect global currencies. Understanding these factors will be crucial to building multi-asset portfolios capable of delivering financial wellbeing in the years ahead. - Professor Steve Hanke, Johns Hopkins University. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Since central banks abandoned their ultra-loose monetary policies, the macro landscape has become increasingly divergent, with greater dispersion across interest rates, economic growth, and inflation. As a result, currencies once again offer a source of investment returns, as well as portfolio diversification. Managed futures strategies allow practitioners to exploit tactical opportunities in this highly liquid asset class, in a systematic way. - Razvan Remsing, Aspect Capital. Earn 1.00 CE/CPD hrs on Portfolio Construction Forum

Since the GFC in 2008, the world has delivered the perfect storm for equity returns, but central bank pump priming has now ended and equities are no longer the reliable investment partner many have come to love and know. Even through this perfect equity storm, high yield bond returns have been reliably similar to equities but with contractual income and much lower dispersion. Advances in trading technology have created liquidity in the higher yield segment allowing their compelling risk/return benefits to be unlocked. Achieving equity like returns with much lower risk and equivalent liquidity is the holy grail that is now on offer from high yield... an investment partner like no other! - Paul Benson, Insight Investment. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

Fiona Ker, Ruffer. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

Aggressive central bank tightening raised bond yields and increased the risk of recession in 2023. As economies slow, fixed income will once again provide portfolio diversification, allowing practitioners to focus on capturing long-term trends such as climate change and artificial intelligence. Renewable energy, electric vehicles, hydrogen fuel and carbon capture offer attractive ways to play the theme of climate change. And while technology stocks may be overpriced, AI promises significant long-term productivity benefits across a range of sectors, including healthcare, marketing, and finance. - Chris Iggo, AXA Investment Managers. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

Since the end of the Second World War, the US dollar's reserve currency status has supported liquidity and efficiency in the global financial system. From a US perspective, dollar dominance brings additional benefits, reducing borrowing costs and import prices, allowing domestic consumers to enhance their living standards. While the US dollar's share of global foreign exchange reserves is in long-term decline, governments around the world continue to view America as reliable and stable, ensuring that the currency's dominance will continue. - Dr Woody Brock. Earn 1.00 CE/CPD hrs on Portfolio Construction Forum

Regime identification is critical to successful portfolio construction strategy. The asset management industry has operated in a disinflationary world for 40 years - a world where capital takes the spoils. If labour is to become more dominant, what does that mean for asset allocation? As we move into an era which is both more inflationary and more volatile, asset allocators will need to adapt in order to deliver returns. There will be significant opportunities to do so - but a different set of tools will be required. Correlations that have held firm in a low inflation, falling interest rate environment will become unstable, testing traditional portfolio theory. A dynamic and unconstrained approach to asset allocation will become essential. - Fiona Ker, Ruffer. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

All relationships are built on trust, which requires integrity, competence and doing the right thing. But to earn justified trust from clients and deliver consistently good outcomes for them, year after year, requires practices and procedures that go beyond compliance obligations to globally recognised fiduciary standards of care.  - Aaron Drew, MyFiduciary. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

...though not unconditionally. Behavioural scientists have long embraced the view that emotions are not only unnecessary but disruptive. Yet the nascent field of Neurofinance, which studies how the brain perceives and reacts to financial risks, suggests that emotion is central to rational decision-making, and investors attuned to their emotions can make better decisions during critical market events. At the same time, 'too much' emotion can lead to financial mistakes caused by panic and irrational exuberance. The challenge, therefore, is for investors to learn how to be attuned to their emotional brain without being overwhelmed by it. - Associate Professor Elise Payzan-Le Nestour, UNSW Business School. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

In research undertaken in partnership with National Seniors Australia, Australian seniors told us that they were feeling the impact of inflation on their lifestyle in retirement. They were concerned about the cost of living and outliving their savings. They want regular income that increases with the cost of living and lasts a lifetime, with access to capital when required. I believe that a partial allocation of retirement savings to a contemporary lifetime income stream can help increase the certainty of delivering what clients want. Such an allocation can deliver more income and with increased certainty. And, contrary to common opinion, such an allocation can help clients preserve assets. - Andrew Lowe, Challenger. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Alternatives should be in every diversified portfolio. Private Equity delivers unmistakable benefits and growth potential, especially in uncertain markets. Unlisted assets, with their proven long-term performance, provide access to a bigger opportunity set that reflects active management in its truest form. Investment into private markets gives managers greater control and influence to transform underperforming businesses. Possibly also influenced by market uncertainty, many businesses are staying private for longer, opening great opportunity for investment managers to continue to diversify their multi asset portfolios with rich investments across many diverse industries. - Dan Farmer, Insignia Financial. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

ESG is no longer enjoying its honeymoon. ESG strategies – whatever that means – have underperformed in 2022 and ESG investment is coming under increasing criticism from politicians, regulators, investors and even practitioners. Some of this criticism is valid but at the heart of the problem is uncertainty arising from the widespread use of an acronym with no – or rather many - common meanings. It is right to question ESG practices, but they have merit and will continue to be increasingly important to investors and by extension, the investments and wealth industry. The real problem is the ill-defined use of the acronym itself and we will all be better off if we stop using it. - Tom King, OAM, Nanuk Asset Management. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

One of the main goals of investing is to provide for income in retirement – spending! A critical part of any retirement plan is a spending plan (which is not the same as a budget!), that sets out how much money can be safely spent each year, and how this amount may vary depending on changing circumstances and changing market returns. Ultimately, a good spending plan helps keep clients' investments on track. - Tim Farrelly, farrelly's Investment Strategy. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

As Australians approach retirement, there can often be a sense of trepidation about what lies ahead. And, for a significant proportion of Australians, retirement comes unexpectedly early which can be a cause of considerable angst. Our research shows that those who plan ahead and expect the unexpected retain a greater sense of control and have much less of an emotional roller coaster as they move through their retirement journey. We can help retirees build and retain their sense of control by keeping on building trust and educating them, modelling possible outcomes and demonstrating a planned approach – including providing a Plan B. - Richard Dinham, Fidelity International. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

The debate about the level of small company exposure in a portfolio has typically revolved around an assessment of their characteristics relative to large caps.  However, an asset allocation decision based purely on analysis of the respective benchmark returns ignores the demonstrated alpha opportunity available for active investors over time. The cross-sectional volatility of small companies is materially higher than the S&P/ASX 100. The higher the dispersion of returns, the higher the opportunity to add value. Historically, active management has consistently delivered outperformance in small companies as the opportunity set presented by the sector allows portfolio managers to demonstrate both stock selection skill and portfolio construction skill. - Andrew Mouchacca, Flinders Investment Partners. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

The best investment opportunities exploit uncertainty. These are found by exploring setbacks and change. However, conventional investment training is number-centric, while I argue investing is all about people. Investors must understand companies and their customers and competitors, the motivations of other investors and, importantly, themselves. Empathy is key, yet industry convention emphasises modelling skills and cultivates auras of certainty. To better develop the skills required to analyse corporates, one can start with individuals as case studies and scale from there. If analysts can't do that, it's unlikely they can address more complex situations. - Douglas Isles, Platinum Asset Management. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum

Constructing a retirement portfolio can be complex – how important is it to maximise the client's retirement income while managing the risks to the sustainability of their income and the need for flexibility as their circumstances change? The future is now and the ability to create certainty and confidence via easy access to new and innovative retirement solutions will be critical. I believe retirement strategies must adapt in line with markets and demographics trends and the additional risks that are relevant for investors in decumulation. Retirement income products of the future must be relevant to an ageing population that is living longer and who need certainty and confidence. - Mark Lapedus, Allianz Retire+. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

The energy transition represents the greatest economic opportunity since the industrial revolution from 1760 to 1840. Reliably capturing the potential of this opportunity and delivering tangible environmental impact will require investors to assume a posture shaped by three core beliefs: that their legacy ought to be a net-zero world, not just a net-zero portfolio; that they should seek economic leverage, rather than exposure, to the energy transition; and, that they should pursue value accretion in their portfolio rather than growth. - David Costello, Magellan Financial Group. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Traditionally, investors' access to Commercial Real Estate (CRE) Debt has been limited. However, the rapidly growing activities of Non-bank Lenders (NBLs) have enabled private investors to access this $400bn asset class, offering a broader range of investment philosophies and generating institutional grade investment opportunities. CRE Debt provides dependable returns, backed by real property first mortgages. On a risk-adjusted return basis, every balanced portfolio should include an allocation into CRE debt. - Patrick Keenan, Pallas Capital. Earn 0.50 CE/CPD hrs on Portfolio Construction Forum

Investors today have more knowledge than any prior generation, however there remains a chasm between knowing and doing. Our behavioural biases hold us back. Thanks to 50 years of research, we also know in theory how to control our biases. Yet still we fail. No matter how much economies, markets and technologies change, human biases and the difficulty overcoming them remain. Acknowledging we are all biased, because we are all human, is the first step to better decisions. Being mindful of uncertainty, over-confidence, incorrect beliefs, unchecked errors, and the personal risk we face when trying to differ from the crowd are just a few of many steps we can take on the path to more sustainable behavioural alpha. - Longwave Capital's David Wanis. Earn 0.25 CE/CPD hrs on Portfolio Construction Forum