Categories
Private Wealth Management
  • Personality Driven Portfolio How to invest right for your style

    Source: SAM PHOEN
    Date Submitted: 14 Sep 2018
    Views: 38
    Downloads: 0
    Personality Driven Portfolio
    How to Invest Right for Your Style
    Published by Marshall Cavendish Business, 2018

    Have you ever thought about how YOUR Personality might affect your Portfolio?
    • Are you wondering why your investments don’t seem to do as well as others?  
    • Do you often own the right stocks, but find yourself either taking profit too early or not taking profit early enough and now sitting on losses?
    • You have been following the recommendations of top analysts and portfolio managers, why aren’t you making as much out of these investments? 
    • Is the performance of your investments keeping you awake at night? 
    You are not alone…
     
    Very often, we construct our investment portfolio by following the best research and recommendations out there.  However, the investment returns are rarely optimal. One of the main reasons is that these investments may not be suitable for you!
     
    Constructing an investment portfolio is not a one-size-fits-all exercise.  What works for other top investors may not necessarily work for you.  Following them blindly can lead to a disastrous mismatch with your own investing style.

    Successful investing starts with KNOWING YOURSELF.
    What investment personality are you?  Are you a Diligent Deer, an Egoistic Elephant, a Cagey Crab, or perhaps a Busy Bee?

    Understanding your investment personality would be the first step to constructing a bespoke portfolio for yourself - one that will suit your personality to a T, and put you in the best position to reap sustained results over the long term!

     
  • What Dividend Imputation Means for Retirement Savers

    Source: Adam Butt, Gaurav Khemka, Geoff Warren
    Date Submitted: 25 Aug 2018
    Views: 685
    Downloads: 12
    We examine what full access to dividend imputation credits means for Australian retirees in two ways. First, we show that availability of imputation credits can justify a significant home bias towards Australian equities in retirement portfolios, largely at the expense of world equities. Second, we estimate the value of imputation credits to retirees, finding it could potentially support increased consumption during retirement of 5%-6%, or the equivalent of a higher balance at retirement by 8%-9%. Our study provides insights relevant for public policy.
  • PAPER SUMMARY: PORTFOLIO ALLOCATION MODELS’ QUESTIONNAIRE: INFERRING THE QUALITY OF POTENTIAL INVESTMENT PERFORMANCE THROUGH MODELS’ INPUTS ASSESSMENT

    Source: Elena Okhonko
    Date Submitted: 08 Aug 2018
    Views: 1568
    Downloads: 27
    Introduction
    Over the past nine years of low-interest rates and slow economic growth, retail investors have become increasingly sensitive to traditional wealth managers, who charge high fees for their financial advice. They are now turning to a new breed of advisors – robo-advisor: automated portfolio construction software that is fully distributed online. Robo-advisors usually rely on exchange-traded funds (ETFs) to construct clients’ portfolios but can sometimes incorporate more sophisticated asset classes such as smart beta funds, long equity funds, bond funds, long/short hedge funds, mutual funds, and leveraged funds. Since the first robo-advisors were introduced to retail investors, these automated solutions’ assets under management (AUM) have been steadily growing year-on-year. There are now more than 200 of them worldwide (Investopedia, 2018).

    With the advent of simplified coding, math, algorithms processing, and cloud computing, this number is now growing every day, showcasing retail investors’ unabated demand for the value for money robo solutions deliver and robos’ digital service convenience, compared to traditional wealth managers. However, AUM managed by robo-advisors around the world and in Asia has not taken off as much as expected. Both Hong Kong and Singapore robo-advisors have, so far, failed to reach the staggering growth rates projected at the start of 2015 (Collins, 2016) by digital wealth space observers. This is despite governments of both cities recognizing the trend and actively supporting fintech start-ups.
     
    Need for further research
    Few possible explanations according to Okhonko E., 2017 can be the areas of clients’ concerns that robo-advisors must still address: lack of trust and understanding of algorithms, preference for human touch and somebody to call, and uncertainty and lack of transparency of robo investment. The need for further research and information transparency in two related aspects of robo-advisory offering, investment models’ algorithms and investment performance results generated by them, was explicitly highlighted.
    The main issue in addressing this need lies in the fact that most robo-advisory solutions use an extremely scattered variety of investment algorithms and methodologies to construct clients’ portfolios. Nonetheless, few authors attempted to address this need by directly investing with several robo-advisors and then, reporting their cumulative performance. Some of the articles and reports along with their results can be found in the Internet (Lou, 2018), (Value Penguin Inc., 2018), (Scholz, 2017). These “studies” are limited to the available historical performance data, which, for the newly launched robos, have not crossed the financial industry standard of a 5-year horizon, which is required to calculate meaningful Sharpe and Sortino ratios. Besides, the majority of the “studies” only disclose returns data, leaving the readers guessing about the risk that was taken to produce it (YEO, 2017). Additionally, performance track record cannot be used as a criterion to evaluate B2B robo-advisory players, as they do not serve end clients directly.
     
    New methodology and paper scope
    This summary article aims to highlight all the key aspects of the white paper “Portfolio allocation models’ questionnaire: inferring the quality of potential investment performance through models’ inputs assessment”, which was written in order to present a new method that looks at robos’ investment performance without the need to invest in them directly. This method also provides a workaround that allows not to rely on historical returns and risks data, but at the same time, gives rich insights into the potential investment performance. Through analysing and evaluating the different types of portfolio asset allocation models, this paper presents the Portfolio Allocation Models’ Questionnaire that has been designed to distinguish major robo-advisory portfolio construction models and segment them according to the level of complexity and sophistication.
     
    View full report:
    https://store.kaplan.com.hk/kaplan/cart/ProductMixProductSingleServlet.do?actionType=courseDetail&productMixId=416
     
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    Rowena Li
    Director, Business Development
    +852 2116 3183
    rowena.li@kaplan.com
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    Director, Corporate Accounts
    +852 2116 3172
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    Janet Sin
    Associate Director, Financial Markets
    +852 2116 3424
    janet.sin@kaplan.com
     
  • Does Financial Market Development Explain (or at Least Predict) the Demand for Wealth Management and Private Banking Services in Developing Markets?

    Source: Bryane Michael,
    Date Submitted: 04 Jul 2018
    Views: 763
    Downloads: 45
    Does Financial Market Development Explain (or at Least Predict)
    the Demand for Wealth Management and Private Banking Services
    in Developing Markets?
  • AsianFA Economic Depreciation in the Property Value: Cross-Sectional Variations and Their Implications on Investments

    Source: Jiro Yoshida,
    Date Submitted: 02 Apr 2018
    Views: 141
    Downloads: 7
    CFA Institute Asia-Pacific Research Exchange Best Paper Award:
    I would like my accepted AsianFA paper considered for the CFA Institute Asia-Pacific Research Exchange Award, 
  • Multi-Asset Strategies: The Future of Investment Management  

    Source: Larry Cao, CFA, Gregory C. Allen, Jason Hsu, Tham Chiew Kit, Darius Liu, CFA, Jeffrey Ptak, CFA, Brian Singer, CFA, Leslie Teo, CFA, Phillip Wool
    Date Submitted: 05 Mar 2018
    Views: 207
    Downloads: 0

    Despite the popularity of multi-asset strategies, especially after the global financial crisis in 2008, very few books have been written about the topic. The few books available, with their heavy use of mathematical formulas, are intended mostly for quants. There appears to be a void in terms of a multi-asset investing book for the majority of investors. This book is our attempt to fill that void.

    When we first discussed this project with Paul Smith, CFA, president and CEO of CFA Institute, Paul’s advice was that we should aim to produce the book on the subject, not just book. This is our first attempt at achieving that goal.

    We focused on three features in putting this book together: (1) concise: each chapter is short enough to be read in 15–20 minutes, (2) accessible: the book is written in plain English and is entirely formula-free, and (3) authoritative: we have engaged the help of some of the brightest minds in this area from around the world. If our readers think we have succeeded in these three endeavors, we shall be quite content.

    How Is This Book Organized?

    This book is about both concepts and practices in multi-asset investing. Part I focuses on two important concepts. Part II includes a few institutional case studies.

    Chapter 1 sets the stage for the entire book. It explains the types of products under the multi-asset umbrella, highlighting how (properly managed) multi-asset-strategy products are different from the more traditional balanced funds and funds of funds.

    In Chapter 2, Jason Hsu and Phillip Wool discuss how risk factor allocation can add value for investors who use asset classes in their asset allocation analysis. Although quants may find talking about this concept challenging without formulas, the two authors do just that. For the more quantitatively inclined, references to the more advanced papers are included.

    In Chapter 3, Brian Singer, CFA, examines the role of both dynamic asset allocation (DAA) and tactical asset allocation using his overall investment taxonomy. DAA is a challenging topic, and a significant number of investors confuse it with market timing. Brian disputes that misperception, citing authorities ranging from John Maynard Keynes to Gary Brinson.

    We dedicate Chapter 4 to risk parity, given its popularity among investors. Greg Allen analyzes both the theory and the historical performance of risk parity and provides a balanced and convincing assessment of the strategy.

    Risk factor allocation has long been the domain of academics and quants. The Morningstar Style Box is an intuitive illustration of how average investors can put the concept to use in their daily investing. In Chapter 5, Jeff Ptak looks under the hood and gives readers an overview of both the methodology and the application of this useful tool for retail investors.

    The last three chapters focus on real-life investor stories: A prominent Asian sovereign wealth manager and two veteran portfolio managers share their experiences in managing multi-asset portfolios.

    A key theme that we try to convey is that all roads lead to Rome. There is no single “best” or even “right” way to manage multi-asset strategies. And getting started does not require that you possess all the needed skills (of course, the more edge you have, the more likely you are to succeed).

    In Chapter 6, three GIC senior executives present GIC’s well-structured approach. GIC’s focus on the long term is an important feature and is appropriate given the long-term nature of its portfolio. GIC’s risk-and-return targets clearly reflect its emphasis on growing purchasing power over the long run.

    Chapter 7 consists of an interview with Dennis Stattman, CFA, a veteran portfolio manager at BlackRock. Dennis started managing global asset allocation funds as early as 1989 and is a true pioneer in the field. He goes into the details of how he manages the products as well as how he has performed over the years. We believe the conversation to be deeply rewarding and hope our readers agree.

    The book’s final chapter comprises a conversation with Ben Inker, CFA, a longtime portfolio manager at GMO who took over asset allocation products from Jeremy Grantham, the famed founder of the firm. Ben has a rather unique approach to investing, in general, and multi-asset strategies, in particular, that is rooted in both economic analysis and fundamental analysis and is implemented with a quantitative flair.

  • Understanding female investors - women using capital to change the world

    Source: Moxie Future
    Date Submitted: 21 Feb 2018
    Views: 1763
    Downloads: 0
    New research published by Moxie Future shows that women are leading the way when it comes to investing responsibly with almost two thirds of those surveyed expressing an interest in pursuing investments that have a beneficial impact on society.
    The report entitled, “Understanding Female Investors: Women Using Capital to Change the World” (#UFI18) was commissioned by Moxie Future to better understand the investment preferences, habits and motivations of women and their interest in responsible investing, which entails channelling funds into companies and industries that are creating positive social and environmental change.  
     “Our survey shows that female investors want more than just good financial returns,” says Moxie Future’s Founder Ms. Jessica Robinson. “In addition, increasing numbers of professional women want to make investment decisions that positively influence the world and are aligned with their values.”
     In total, 2,536 women aged 18 to 65 were surveyed across the five major markets of Australia, China, Germany, United Kingdom and the United States through online interviews conducted between March and April 2017.
    Findings from the research highlight how female investors in China show the greatest interest and concern when it comes to responsible investment. In total, 84% of women surveyed in China expressed that they are motivated to be a responsible investor.
    Among those surveyed, globally 69% of women indicated that they would be interested in investing responsibly if suitable products were available. Interest in responsible investment products is notably highest among women in China (91%) and the United States (74%). 
    Across all markets poverty, income equality, healthcare and climate change are causes that matter the most to women when it comes to investing their wealth.
    In addition, while the research found that women are motivated, there are a number of barriers to be addressed. Many women view their lack of time, knowledge, understanding and distrust of information regarding investment products as the key obstacles in the responsible investment process. Within China however, the leading concern is lack of tested products in the market.
    “The research shines a light on the mindset of today’s female investors from their priorities when making investment decisions to the concerns that may be deterring them from investing responsibly,” says Ms. Robinson.
    “While our study has found that women are generally positive about responsible investing, it has uncovered the practical difficulties that they face when committing their money, not least a perception among women that the financial services industry is failing to offer advice that aligns with their goals and interests.
    “What this tells us is, not only is there a disconnect between women and the financial services sector, but there are untapped opportunities for the industry to work more closely with female investors to deliver products and services specifically designed around them. This includes catering to the investment preferences of women and addressing their needs in a more meaningful way.”
    With regards to China, Ms. Robinson attributes the higher levels of interest in responsible investing to the fact that Chinese women are facing more visible challenges, particularly environmental threats which may explain why they are more motivated.  
    “This is not forgetting that in terms of financial confidence, our research has uncovered that Chinese women tend to be the most bullish in their own investment abilities,” she continues.
    Results from the research also point to how of the five markets surveyed, women in Germany appear to be the most lacking in confidence. Concludes Ms. Robinson, “When it comes to responsible investment opportunities, confidence matters because the higher the level, the more likely female investors are to be concerned and engaged.”
    To view a full copy of the report, please see “Understanding Female Investors: Women Using Capital to Change the World. HONG KONG, 30 January, 2018 – New research published today by Moxie Future shows that women are leading the way when it comes to investing responsibly with almost two thirds of those surveyed expressing an interest in pursuing investments that have a beneficial impact on society.
     
     
  • The prevalence of global stock market inefficiencies gives rise to ample opportunities for stock picking

    Source: Chan Fook Leong, CFA
    Date Submitted: 19 Dec 2017
    Views: 1645
    Downloads: 0
    Media Release

    The prevalence of global stock market inefficiencies gives rise to ample opportunities for stock picking
     
    • Active management can yield alpha from inefficiencies in global equity markets particularly in the Asia Pacific region and in emerging markets 
    • These opportunities to generate excess risk-adjusted returns are in spite of trading costs 
    • There is a positive relation between transaction costs including the presence of short selling restrictions and alpha
     
    By Chan Fook Leong, CFA, for Asia-Pacific Research Exchange (ARX)
     
    Singapore, November 14. Professor Söhnke M. Bartram from University of Warwick highlighted the prevalence of global stock market inefficiencies over a lunch-time talk to a full house of CFA charter holders in the FTSE Room on the 9th floor of Capital Tower, Singapore.

    When there are deviations from fair value, stock picking can yield alpha. The mispricing in equities is prevalent globally, particularly in the Asia Pacific region and in emerging markets as uncovered by Professor’s Bartram research project using point-in-time accounting data from more than 25,000 stocks from 36 countries over a period of more than two decades.

    He and joint researcher, Mark Grinblatt, showed that the risk-adjusted returns are significantly larger in emerging than developed markets, suggesting that emerging markets are less efficient at incorporating material public information.

    Potential profits are also larger in the Asia Pacific region. Equity markets in Asia Pacific, the region with the largest alpha, experiences 26-50 basis point additional alpha compared to the Americas even after factoring in differences in the state of economic development.  

    In their research, fair value is determined using replicating portfolios instead of the more conventional discounted cash flow model or the structural asset pricing model where assumptions such as terminal growth and discount rates need to be determined. The replicating portfolio method is a simplistic non-discretionary approach as it relies on less assumptions to arrive at the fair value of a stock. Using international accounting data which is readily available to investors, firms with the same accounting metrics should have identical fair values.

    The replicating portfolios assign monthly fair values to more than 25,000 firms from 36 countries from 1993 to 2016. Thereafter, ordinary least square regression methods are employed to determine the most under- and over-priced stocks. Professor Bartram found that mispricing is greater in emerging markets and in the Asia Pacific region.

    The proxy of trading costs in this research are costs typically incurred by institutional investors. The study also shows that constructing a long-short portfolio still yields positive alpha in spite of trading costs from fees, commissions, and market impact. Moreover, simple adaptations of strategies that reduce turnover such as buy-and-hold strategy can improve alpha in emerging markets.

    Transaction costs which include trading and compliance costs also predict potential profitability – there is a positive relation between such costs and alpha even after controlling for variables such as the quality of a country’s information environment, its level of economic and financial development, and its regulatory framework. This implies that a hypothetical country with zero transaction costs will be devoid of alpha.  

    The other determinant of the level of alpha is the presence of short selling restrictions and other characteristics that might curb arbitrage activities. Limiting arbitrage activities impede the process of stocks reverting to fair value which in turn gives rise to mis-priced stocks.

    Stock market inefficiencies leads to presence of higher alpha in emerging markets and the Asia Pacific region compared to other parts of the world. The former two market or region represent the amongst highest transaction costs including the presence of the prohibition of short selling relative to others, and thereby leading to higher alphas waiting to be realized from picking these severely mis-priced stocks. Best of luck.
     
     
    The full research report can be downloaded from the Asia-Pacific Research Exchange (ARX) website (https://www.arx.cfa)
     
     
  • RMBI Newsletter Issue 13 (Financial Crime Risk: Anti-Money Laundering and The Rise of Text Mining in Financial Markets)

    Source: Tsang Chiu Yu, Derek, Wong Ching Ip, Venice, Chiu Hok He, Angus, Li Chin Wa, Chin
    Date Submitted: 26 Jul 2017
    Views: 711
    Downloads: 0
    In the latest issue (Issue 13 – August 2017), it covers the stories of:
     
    Financial Crime Risk : Anti-Money Laundering Practices in Banking
    To understand anti-money laundering, we have to understand what money laundering is. Money Laundering is the process of converting illegal funds into seemingly legitimate assets with the purpose of concealing the ownership or original source of these funds. This makes it difficult for the authorities to trace the origins of the funds. To counter this, the banking sector has established a set of internal regulations and system known as anti-money laundering. These are legal controls taken by financial institutions to investigate suspicious transactions to help prevent money laundering activities within the banking sector.
     
    The Rise of Text Mining in Financial Markets
    The world is awash in data. Financial markets are awash in data. We are generating around 2.5 quintillion (2.5×1018) bytes of information every day, and there is an average of 4,000 brokerage reports a day comprising around 36,000 pages in 53 languages. As market participants try to maximize their competitive edge from the growing mountain of information, the nancial world increasingly feels there is a need to harness the power of big data and it has been shaping the way they acquire, analyze and utilize data. The recent development is the rapid expansion of text mining. Hence, this article will focus on the development of Text Mining technology as well as Text Mining technique.
  • Two insightful reports on Fintech and Distributed Ledger Technology (DLT) by Financial Services Development Council (FSDC)

    Source: Financial Services Development Council (FSDC)
    Date Submitted: 13 Jun 2017
    Views: 1807
    Downloads: 0
    Given most of the FinTech innovations, in particular the DLT, are developed for providing services directly to consumers, FinTech has initially been regarded as disruptive to the established financial institutions. However, a more recent development is that increasingly FinTech innovations are developed by, and in collaboration with, the well established incumbents in the financial sector. There are two very insightful reports on FinTech and DLT published by the FSDC in May 2017; which covers extensively the following areas including cybersecurity, payment and securities settlement, digital ID and KYC utility, WealthTech and InsurTech (including data analytics, automation and artificial intelligence), RegTech as well as Distributed Ledger Technology.  

    Attached are the two links to these two reports by FSDC.  

    http://www.fsdc.org.hk/sites/default/files/FSDC%20Paper_FinTech_E.pdf

    http://www.fsdc.org.hk/sites/default/files/FSDC%20Paper_DLT_E.pdf
     
  • Bangladesh National Budget Review FY'18

    Source: EBLSL Research Team
    Date Submitted: 04 Jun 2017
    Views: 1089
    Downloads: 136
    The 46th National Budget of Bangladesh and 11th by Finance Minister AMA Muhith has been proposed on 1st June, 2017. Proposed budget size for FY ’18 is BDT 4002.66 bn which is 18.0% of GDP. This is the largest budget in the history of Bangladesh. Target Revenue is BDT 2879.91 bn caused a deficit amounting to BDT 1122.75 bn which will be financed through domestic sources (BDT 603.52 bn) and External Borrowings (BDT 519.24 bn).
     
  • MySuper: A New Landscape for Default Superannuation Funds

    Source: Warren Chant, Mano Mohankumar, Geoff Warren
    Date Submitted: 07 Nov 2016
    Views: 389
    Downloads: 1
    This report examines the Australian superannuation default fund landscape following the introduction of MySuper at the beginning of 2014.
  • Delegation, trust and defaulting in retirement savings: Perspectives from plan executives and members

    Source: Adam Butt, Scott Donald, Doug Foster, Susan Thorp, Geoff Warren
    Date Submitted: 07 Nov 2016
    Views: 559
    Downloads: 3
    Australian superannuation fund members are surveyed to gauge motivations behind defaulting, as well as their wants and needs from their pension fund. Comparison is made with findings from interviews of fund executives.
  • Portfolio allocation in an overvalued market

    Source: Asif Khan
    Date Submitted: 22 Sep 2016
    Views: 672
    Downloads: 0
    This is a blog post describing various ways investors can construct portfolios in an environment where low interest rates have lead to high asset prices. It is written from the perspective of an US equity investor although the conclusions apply to all countries.
  • Survey data suggests a blended robo model is best for advising investors

    Source: Dan Daugaard, Senior Lecturer and Director of CFA Institute Partnership Program at Macquarie University Applied Finance Centre
    Date Submitted: 22 Sep 2016
    Views: 627
    Downloads: 0
    A review of industry surveys suggests that a blended business model combining both robo and face-to-face advice would best fit investor needs - both across the range of investor categories as well as flexibly accommodating the evolving demand by investors for different forms of advice through time.
  • The Global Equity Premium Revisited: What Human Rights Imply for Assets' Purchasing Power

    Source: Jedrzej Bialkowski, Ehud I. Ronn
    Date Submitted: 18 Sep 2016
    Views: 17
    Downloads: 0
    In this paper, we argue that past computations equity risk premium did not properly account for the financial implications of political collapse on property/civil/human rights. Accordingly, we show that past calculations overstated the equity risk premium. We provide an estimate of the equity risk premium that is corrected for lack of basic rights, demonstrating the important changes in this estimate over time.
  • SOE Reform Funds Recommendation

    Source:
    Date Submitted: 18 Aug 2016
    Views: 535
    Downloads: 7
    SOE Reform Funds Recommendation
  • Fintech Survey Report PPT 2016

    Source: Alan Lok, CFA
    Date Submitted: 29 Jul 2016
    Views: 1073
    Downloads: 121
    Fintech Survey PPT 2016
  • Medical & Healthcare Funds Recommendation

    Source: Shanghai Vstone Asset Management Co. Ltd
    Date Submitted: 22 Jul 2016
    Views: 251
    Downloads: 3
    Medical & Healthcare Funds Recommendation
  • A Review of Activities and Trends in China's Wealth Management and Mutual Fund Industry

    Source: Shanghai Vstone Asset Management Co. Ltd
    Date Submitted: 22 Jul 2016
    Views: 699
    Downloads: 9
    A Review of Activities and Trends in China's Wealth Management and Mutual Fund Industry
  • 授人以鱼不如授人以渔

    Source: Michael A. Ervolini
    Date Submitted: 13 Jul 2016
    Views: 383
    Downloads: 10
    This article appears on CFA Institute Hedge Fund Journal 2016 issue, season 1.
  • 探索全新的私人财富管理框架

    Source: Pranay Gupta, CFA
    Date Submitted: 12 Jul 2016
    Views: 365
    Downloads: 1
    This article appears on CFA Institute Hedge Fund Journal 2016 issue, season 1.
  • Does Selling Theoretical Performance Put Investors First?

    Source: David Allison, CFA, CIPM
    Date Submitted: 04 Jul 2016
    Views: 264
    Downloads: 0
    This is a blog posted on CFA Institute's website on 11 August 2014.
  • What Makes Emerging Market Debt Tick?

    Source: Larry Cao, CFA
    Date Submitted: 29 Jun 2016
    Views: 303
    Downloads: 4
    This is a blog posted on CFA Institute's website on 29 April 2014.
  • Emerging Market Debt: An Overlooked Source of Alpha?

    Source: Larry Cao, CFA
    Date Submitted: 29 Jun 2016
    Views: 570
    Downloads: 3
    This is a blog posted on CFA Institute's website on 28 May 2014.
  • Impact Investing in India: Poised to Grow?

    Source: Heda Bayron
    Date Submitted: 29 Jun 2016
    Views: 2488
    Downloads: 30
    This is a blog posted on CFA Institute's website on 7 July 2014.
  • Reality Check: What Is India’s New Budget Telling Investors?

    Source: Larry Cao, CFA
    Date Submitted: 29 Jun 2016
    Views: 359
    Downloads: 1
    This is a blog posted on CFA Institute's website on 28 July 2014.
  • What’s Wrong with the Asian Wealth Management Industry?

    Source: Heda Bayron
    Date Submitted: 29 Jun 2016
    Views: 384
    Downloads: 1
    This is a blog posted on CFA Institute's website on 4 November 2014.
  • Seven Essential Steps in Portfolio Management

    Source: Larry Cao, CFA
    Date Submitted: 27 Jun 2016
    Views: 874
    Downloads: 0
    This is a blog posted on CFA Institute's website on 12 August 2014.
  • Weekend Reads for Global Investors: What Drove Chinese Stocks Up 128% Last Year?

    Source: Larry Cao, CFA
    Date Submitted: 27 Jun 2016
    Views: 375
    Downloads: 0
    This article appeared on CFA Institute's website on 29 May 2015.
  • Portfolio Evaluation: Benchmarking for Success

    Source: Larry Cao, CFA
    Date Submitted: 24 Jun 2016
    Views: 401
    Downloads: 2
    This is a blog posted on CFA Institute's website on 11 May 2015.
  • An Advance in Portfolio Construction

    Source: Larry Cao, CFA
    Date Submitted: 24 Jun 2016
    Views: 532
    Downloads: 3
    This is a blog posted on CFA Institute's website on 8 March 2016.
  • What Is the Relevant Time Period for Your Investment Portfolio?

    Source: A. Michael Lipper, CFA
    Date Submitted: 17 Jun 2016
    Views: 370
    Downloads: 0
    This is a blog posted on CFA Institute's website on 11 December 2014.
  • Focus for Investment Victory

    Source: A. Michael Lipper, CFA
    Date Submitted: 17 Jun 2016
    Views: 264
    Downloads: 0
    This is a blog posted on CFA Institute's website on 23 February 2015.
  • 解密对冲基金策略配置

    Source: Ted Seides, CFA
    Date Submitted: 07 Jun 2016
    Views: 503
    Downloads: 2
    This article appears on CFA Institute hedge fund journal 2014 issue, season 1. The original article appears on Investment Risk and Performance Feature Articles, July 2012, Vol. 2012, No. 1: 1–5
  • Data Management: building better relationship

    Source:
    Date Submitted: 20 Mar 2016
    Views: 263
    Downloads: 0
    Opinion on proper utilization of data management for commercial banks and how it can build better relationship with clients and further increase a banks business.
  • An Empirical Analysis of Credit Card Delinquency among BPO Employees (Philippines)

    Source: Abelardo Dulay, Abigail Diente, Laline Tabuzo, Alvia Lejano, Wilma Valenzuela
    Date Submitted: 16 Mar 2016
    Views: 621
    Downloads: 8
    An Empirical Analysis of Credit Card Delinquency among BPO Employees (Philippines)
  • HOW YOUNG NEW ZEALANDERS LEARN ABOUT PERSONAL FINANCE: A LONGITUDINAL STUDY - NGAI TAHU SUB-COHORT

    Source: Jeffrey Stangl, Claire Matthews
    Date Submitted: 22 Feb 2016
    Views: 293
    Downloads: 3
    This working paper was published by the Westpac - Massey University Fin-Ed Centre in September 2013.
  • HOW YOUNG NEW ZEALANDERS LEARN ABOUT PERSONAL FINANCE: A LONGITUDINAL STUDY

    Source: Jeffrey Stangl, Claire Matthews
    Date Submitted: 22 Feb 2016
    Views: 292
    Downloads: 1
    This working paper was published by the Westpac - Massey University Fin-Ed Centre in December 2013.
  • Retirement Realities

    Source: Claire Matthews
    Date Submitted: 22 Feb 2016
    Views: 535
    Downloads: 12
    This article has been published in Applied Finance Letters, Volume 2(1), 2013, pp. 22-27.
  • Why Do Financial Literacy Programmes Fail?

    Source: Bart Frijns, Alireza Tourani-Rad, Aaron Gilbert
    Date Submitted: 22 Feb 2016
    Views: 506
    Downloads: 2
    This article has been published in Applied Finance Letters, Volume 2(1), 2013, pp. 18-21.
  • KiwiSaver, Who Is Really Reaping The Benefits?

    Source: Bart Frijns, Alireza Tourani-Rad
    Date Submitted: 22 Feb 2016
    Views: 321
    Downloads: 2
    This article has been published in Applied Finance Letters, Volume 3(2), 2014, pp. 12-15.
  • UNDERSTANDING HOUSING DECISIONS IN THE NEW ZEALAND RESIDENTIAL PROPERTY MARKET

    Source: Susan Flint-Hartle, Jeffrey Stangl
    Date Submitted: 22 Feb 2016
    Views: 434
    Downloads: 7
    This is a working paper published by the WESTPAC - MASSEY UNIVERSITY FIN-ED CENTRE in December 2014.