Gilead – When is a tech stock not a tech stock?

By Robert Swift We often show investors our sector and region weights. These are important aspects of our portfolio construction process because ensuring a wide spread of sector and country exposure is a sensible way to diversify and control exposure to a detrimental event in any one country or sect...
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Improving Smart Beta strategies

By Roger McIntosh Smart beta investing, or rules-driven active investing, has gained widespread popularity and usage, particularly amongst investors looking for alternatives to high cost managers.  Almost 50% of institutions surveyed by Russell Indexes with assets over USD 1Billion are looking to i...
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How much risk is there in my passive strategy?

By Robert Swift Passive investment strategies, where investors simply invest in a fund that tracks a standard index like the S&P/ASX 200, have become increasingly popular both with institutions and private investors. The reasons are clear – they are cheaper than most active strategies, people ...
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Macy’s – a real target for acquisition?

By Karl Hunt, Portfolio Manager Macy’s, the US department store retailer, is a relatively recent purchase for the High Conviction Strategy.  Traditional bricks and mortar retailers have found it tough going against big online retailers like Amazon. As a result, Macy’s valuation has been...
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Trump so far and is 2017 going to be nasty?

By Robert Swift 2016 was a surprisingly decent year for investors in risk assets. Despite signs of unrest at the status quo as evidenced by the Brexit vote, Donald Trump’s victory and the rise of ‘populism’ in Europe, equity markets appear to be sanguine at the prospect of wholesale political ...
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