http://wealthmanagementhongkong.com/
Investment Strategy has moved from focusing on INVESTMENT RETURNS to focusing on INVESTMENT RISK. Welcome to the world of
“Dynamic Asset Allocation”
Gary Williams
Asset Investment Management Hong Kong
Dominique Grandchamp: Gauging Institutional Interests and the Role of Regulat...marcus evans Network
Gauging Institutional Interests and the Role of Regulated Investment Funds in a Post Crisis World
Dominique Grandchamp Senior Investment Consultant, Mercer
Dominique Grandchamp: Gauging Institutional Interests and the Role of Regulat...marcus evans Network
Gauging Institutional Interests and the Role of Regulated Investment Funds in a Post Crisis World
Dominique Grandchamp Senior Investment Consultant, Mercer
For accompanying video, see https://www.youtube.com/watch?v=LhSeXIlvP4U.
Given at ad:tech Asean 2015 http://www.adtechasean.com/ July 8th in Singapore by MWI's CEO Josh Steimle @joshsteimle, who is typing this, so I'll break out of the third person.
I was assigned this topic, and it was a fun one. I love being able to give actionable tips, and this deck includes 10 of them--all free or very close to free. Most not all that time consuming either. Ranges from basics like "Get a mobile friendly site already!" (with some more details on how) to how to come up with ideas for blog posts. Oh, and of course, you can't leave out HARO (Help A Reporter Out).
Shoutouts to Wil Reynolds at http://www.seerinteractive.com/, Moz https://moz.com/, Gartner, HostGator, Yoast, Google, Canva, SlideShare, TinyLetter, YouTube, Chinese Obama, and Chris Reed with http://blackmarketing.com/.
The impact of innovation on travel and tourism industries (World Travel Marke...Brian Solis
From the impact of Pokemon Go on Silicon Valley to artificial intelligence, futurist Brian Solis talks to Mathew Parsons of World Travel Market about the future of travel, tourism and hospitality.
The Six Highest Performing B2B Blog Post FormatsBarry Feldman
If your B2B blogging goals include earning social media shares and backlinks to boost your search rankings, this infographic lists the size best approaches.
Each technological age has been marked by a shift in how the industrial platform enables companies to rethink their business processes and create wealth. In the talk I argue that we are limiting our view of what this next industrial/digital age can offer because of how we read, measure and through that perceive the world (how we cherry pick data). Companies are locked in metrics and quantitative measures, data that can fit into a spreadsheet. And by that they see the digital transformation merely as an efficiency tool to the fossil fuel age. But we need to stretch further…
Target date funds are quickly becoming the dominant investment option within many defined contribution retirement plans. Regulators have taken notice with the Department of Labor (DOL) contemplating new disclosure requirements for plans offering target date funds.
In order for a plan sponsor to meet their fiduciary obligations to prudently select and monitor their target date funds, a thorough analysis is necessary because of the underlying complexity of these products and their unique structure relative to the traditional "core" investment options that defined contribution sponsors are used to evaluating.
In this program, we present a framework for a sound fiduciary evaluation of a target date series.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
3. Investment Strategy has moved from
focusing on INVESTMENT RETURNS
to focusing on INVESTMENT RISK.
Welcome to the world of
“Dynamic Asset Allocation”
Gary Williams
4. Introduction
Section A: History
Section B: Investment Philosophy and Process for Dynamic
Asset Allocation
Dynamic Asset Allocation
Fund Selection
Portfolio Construction
5. Section A History: key influences
Date Influence Nature of the influence Area of impact
Diversification; efficient frontiers Diversification and risk
1952 Harry Markowitz
and modern portfolio thinking management
Professor Brinson The factors influencing portfolio
1991 Asset allocation
(and others) performance over time
The psychological influence on
2002 Daniel Kahneman Investor attitude to risk
investment decisions
6. Section A History: Markowitz
Modern Portfolio Theory
• Investors’ requirements revolve around obtaining reasonable
investment returns without excessive volatility (Risk).
• It’s not about getting high returns!
• It’s all about blending different asset classes to produce
average to good results at a lower risk (Volatility).
• Investment Strategy has moved from focusing on RETURNS to
focusing on RISK
7. Section A History: Brinson
Asset allocation constitutes the most important step in portfolio
construction, accounting for more than 90% of the variability in
portfolio performance over time1
1 G.P. Brinson, B.D.Singer, G.L. Bebower, “Determinants of Portfolio Performance II: An Update”, Financial Analyst Journal, May-June 1991.
8. Section A History: Kahneman
The 2002 Nobel prize for Economics¹ winner Daniel Kahneman
states that individuals are more depressed with losses than they
are satisfied with equivalent returns.
¹ The Sveriges Riksbank Prize in Economic Science
9. Section B: Philosophy and
Process for Dynamic Asset Allocation
The investment philosophy is built on three core capabilities:
Dynamic Asset Allocation
Fund Selection – best of breed fund solutions
Portfolio Construction
10. Section B:
Dynamic Asset Allocation
Different asset classes such as equities, bonds and cash have different
performance characteristics meaning that they respond differently to
changing economic scenarios. These differences create a need for
complementary asset allocation combinations with appropriate risk and
return profiles.
The portfolio manager’s skill is in altering asset weights tactically in
order to create combinations of asset classes that can produce differing
risk and return outcomes. The Harmony Portfolios have strategic (long-
term) asset allocations that are reflective of the different benefits of
these asset classes.
By tilting a portfolio’s exposure between different asset classes at
different times there is value to be earned: this is the premise behind
tactical asset allocation.
11. Section B:
Dynamic Asset Allocation
Source: Momentum Global Investment Management Limited - January 2011
13. Section B:
Dynamic Asset Allocation
Performance Benchmarks:
An appropriate benchmark for each of the portfolios tells
us as much about the return expectations of the typical
investor in the portfolio, as it does about their appetite
for risk.
It allows us to continuously compare and contrast the
investment manager’s performance.
Asset Allocation Benchmarks:
It includes a 20% global exposure to complement the 80%
exposure to specific geographically / Currency focused
asset classes.
Expanding the benchmark’s asset class set is strategic asset
allocation.
14. Section B:
Dynamicclasses are rescaled to be consistent with
Historical returns for asset
Asset Allocation
expectations for the future. This allows the distribution to maintain the same
shape (same number of outliers, etc) with the mean return adjusted.
Source: Momentum Global Investment Management, Lipper, Historic figures are % p.a. January 2000 – December 2010.
Indices used for historic returns: Credit Suisse Tremont Multi Strategy Hedge Fund, FTSE EPRA/NAREIT Global Property, JPMorgan Global Bonds, JPMorgan US Bonds, LIBOR USD
3m, MSCI World, S&P 500, Credit Suisse High Yield Bonds. Past performance is not indicative of future returns.
15. Section B: Fund Selection
Funds / Managers Selection
Active investment approaches reward investors across
inefficient asset classes (e.g. US small cap equity). Passive
investment styles (e.g. index tracking) may be appropriate in
efficient markets such as US Treasuries.
Specialists create pockets of excellence in their key areas of
focus.
No single fund manager can create a monopoly of quality
across the spectrum of products on offer and the ability to
invest with different specialists across the world is essential.
It is therefore congruent to seek out Independent Financial
Advice.
16. Section B: Fund Selection
Asset Class Research
Where active management works.
Percentage of fund managers who underperform various performance hurdles
Index +1% +2% +4%
Efficient
Domestic Bonds* 84
Efficient
Global Bonds 66 77
UK Equities 67 77
US Equities 65 71 75
Semi-Efficient
Global Equities 69 75 81
European Equities 53 66 75
EM Equity 59 67 73
Japanese Equity 48 57 65 75
Inefficient
Small Cap* 49 54 59 67
Inefficient
17. Section B: Fund Selection
Manager research and selection
Assets under management
Asset class screening / initial research Investment style
High alpha
Quant analysis Returns based style analysis
Risk/attribution analysis
Philosophy
Due diligence Process
Re-evaluation of People
existing Evidence
managers
Selection Check consistency through
time
Ongoing monitoring
18. Section B: Fund Selection
Using the best talent from around the world
London:
Chicago: M&G
Driehaus RWC
Timpani Schroders Tokyo:
Threadneedle Tiburon
Paris:
Comgest
Connecticut:
San Francisco: Lapides
Artisan AXA IM
New York:
American Century
Arizona: Pzena
ING Muzinich
Wilmington:
Marvin &
Palmer
Sydney:
Aberdeen
22. Dynamic Asset Allocation
• Controlling Risk
• Controlling Volatility
• Controlling investment returns
• Looking to explore how Dynamic Asset
Allocation can benefit your investments
• Then please contact us, we look forward to
talking with you soon