The Lander Report - Market & Portfolio Insights

Welcome to the latest edition of The Lander Report.

In this detailed analysis by Dr Jerome Lander, you’ll hear the full story with compelling clarity, logic and insight.  

Dr Jerome Lander’s key insights:

• As we’ve discussed for some time, we believe that the investment environment has changed
• Risk and some key macroeconomic factors have become essential considerations in portfolio construction
• Portfolios need to be fundamentally different in the years ahead as compared to previous decades
• The key issues remain inflation and geopolitical risk
• Inflation is proving to be stubborn, structural in nature, and likely to remain entrenched
• Policymakers are struggling to contain inflation while not inflicting unpalatable economic damage
• It’s becoming increasingly clear that equity market expectations of a soft landing are becoming difficult to meet
• Equity risk premiums are less attractive
• Money is moving towards bonds and cash as concerns grow around future equity values in this environment
• Some equity opportunities exist, but the broader market and tech stocks, in particular, are priced for perfection
• Dynamic Asset has been positioned for these conditions for some time with low equity weightings and more bullish positions on alternative assets such as commodities, which tend to perform relatively better in times of high inflation and geopolitical risk
• Another differentiator is the meaningful allocation to precious metals, which are likely to be supported in times of conflict and war
• Geopolitical factors continue to be underappreciated as a key risk and have intensified with the recent conflict in the Middle East
• There’s a lot to worry about for traditional portfolios and much to support Dynamic Asset’s contentions that portfolios must be constructed differently to meet the challenges of today and tomorrow.
• The US equity market is being affected by the policy environment and we believe that it is likely that its days of outperformance are over.
• Bond market yields are returning to normal, but remain a tricky asset class. We believe that they have a place with portfolios, albeit less attractive or less risky than several alternative assets.
  
  

About Dr Jerome Lander and Dynamic Asset

Dr Jerome Lander is responsible for asset allocation, fund manager selection and portfolio construction of Dynamic Asset's Goals Based Portfolios. 

Dr Lander is well-known in the institutional investment community. His 20 years of experience in asset management and investment strategy demonstrate his strong capabilities in multi-asset class investment management.

He was the Chief Investment Officer of the WorkCover insurance fund where he was responsible for managing a $12 billion institutional investment fund, reporting to the Investment Board. In that time, the investment fund ranked as the best institutional investment fund of its kind in Australia and the best performing of all Mercer’s (nearly 100) institutional clients.

Jerome has also been a Director of Investment Consulting for Russell Investments, a Diversified Assets Portfolio Manager at Credit Suisse and Head of Manager Research for Van Eyk. Jerome has also served as a Board member for the Investment Management Consultants Association (IMCA).

If you would like to find out more about Dynamic Asset's Managed Account Services under the direction of Dr Jerome Lander contact Dynamic Asset today.

Disclaimer 

This material has been prepared by Dynamic Asset Consulting Pty Limited (ABN 82 079 145 298, AFSL 502623) of Level 20, 56 Pitt Street Sydney NSW 2000. Any content provided in this Report is for general information purposes only. It is not personal advice and does not take into account the investment objectives, financial situation or needs of any person. Please seek specific advice before making a decision in relation to any investment. Before making any decision about any product you should obtain a Product Disclosure Statement (PDS) or Investment Mandate (IM) document for further information. A copy of our PDS or IM is available from your adviser or by contacting us through our website at www.dynamicasset.com.au 

The information is provided in good faith and we do not make any representation or warranty as to its accuracy, reliability or completeness. Any information contained in this presentation is subject to change without prior notice by Dynamic Asset Consulting and Dynamic Asset Consulting is not obliged to update any information. References made to any third party or their data is based on information that Dynamic Asset Consulting believes to be true and accurate as at the date of this Report but without independent verification. All information provided in this Report is correct as at the date of this Report. To the extent permissible by law, we do not accept any responsibility for any error, omission, indirect or consequential loss or damages (whether arising in contract, tort, negligence or otherwise, in any case whether foreseeable or not). Any person receiving this document should rely and act on that basis and entirely at his / her own risk. 

Past performance is not a reliable indicator of future performance. The value of an investment may rise or fall with the changes in the market. Returns are not guaranteed and actual returns may vary from any target returns described in this communication. Unless stated otherwise Dynamic Asset Consulting returns are net of all asset manager, program adviser and administration fees. The measure of inflation is the Consumer Price Index, calculated by the Australian Bureau of Statistics. Where the official number was not available at the time of publication a proxy CPI value has been calculated. 

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