VicSuper CIO Andrew Howard has positioned the fund’s portfolio to deal with low growth and higher volatility. “I’ll happily accept a lower return than what we might have received from real assets over the last 10 years to ensure we have enough ballast in our portfolio to deliver a smoother pattern of returns.”More Details
Ravens are commonly associated with caution, if not impending doom. In the hit series Game of Thrones, the actors are heard multiple times uttering the expression: “Dark wings, dark words”, referring to the fact that urgently delivered messages by ravens are often bad news. But this image is deceptive, as it detracts from the fact that […]More Details
Last year was a volatile year for fixed income investors and there is no reason to assume it will be different in 2019. Financial markets are moving from an unusually supportive environment to a more volatile one of slower growth, reduced liquidity, and heightened political risk. In the US, the Federal Reserve continued to hike […]More Details
"He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants."
Friedrich August von Hayek