Select Asset Management

Pathway to disaster

Tue, 27 Mar 2012 10:05:38 +1000

Today's article of interest is "Pathway to disaster" by Dominic McCormick, Select's Chief Investment Officer, published in Money Management. There is considerable asset allocation bias with self-managed super fund trustees. This is likely to lead to disappointing performance at best, and widespread disaster at worst.

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A mistaken identity

Thu, 23 Feb 2012 15:03:00 +1100

Today's article of interest is "A mistaken identity" by Dominic McCormick, Select's Chief Investment Officer, published in Money Management. It explains why going passive is not a low risk portfolio approach.

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Nowhere to go but up?

Thu, 19 Jan 2012 10:59:05 +1100

Today's article of interest is "Nowhere to go but up?” by Dominic McCormick, Select’s Chief Investment Officer, published in Money Management on 19th January. It has been hard to miss the extreme pessimism about the share market from both professional and unsophisticated investors in the lead-up to Christmas 2011.

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Investors turn to multi-asset funds

Fri, 25 Nov 2011 11:53:39 +1100

This article on the rise of multi-asset solutions by Select's Chief Investment Officer, Dominic McCormick, appeared in Money Management today. Dissatisfaction with the performance of traditional managed funds and the resulting criticism may see the rise of multi-asset solutions.

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Does strategic asset allocation make sense?

Thu, 06 Oct 2011 09:44:42 +1000

Today's article of interest is "Does strategic asset allocation make sense?” by Dominic McCormick, Select’s Chief Investment Officer, published in Money Management on 22^nd September. Strategic asset allocation may represent the conventional approach but Dominic McCormick questions whether it deserves the credibility it carries.

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Gold Stocks - Ready, Set,...

Thu, 29 Sep 2011 16:30:00 +1000

This article by Eric Sprott and David Baker highlights the growing divergence in the performance of gold bullion and gold equities, which is resulting in a number of sophisticated investors, including Select, switching from bullion into gold equities - based on this divergence, we recently (prior to the sell off last week of bullion) sold some of our gold bullion exposure and increased our allocation to gold mining equities primarily via some US listed ETFs. In contrast to conventional wisdom in recent months, gold bullion has at times been more volatile than gold equities (although volatility of both has increased in the recent sell off).

There are a number of reasons for this divergence including:

The sell-side's abysmal gold price estimates;
Gold's volatility; and
Investors still remember how badly gold equities got crushed in 2008.

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