News - Zenith Investment Partners

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banner"> <div class="banner_image" style="background-image: url('/media/303d2ths/dynamic-etf-cover-image.png?width=1900&height=500&v=1d887a86acee8b0')"> <div class="ui container"> <span style="color: #FFFFFF;">News</span> </div> </div> </section> <div class="ui section remove-top-padding"> <div class="ui stackable grid center aligned"> <div class="sixteen column wide"> <div class="column" id="articleNavs"> <a id="News-2025" data-type="News" data-function="article-year" data-year="2025" class="ui button primary"> 2025 </a> <a id="News-2024" data-type="News" data-function="article-year" data-year="2024" class="ui button secondary"> 2024 </a> <a id="News-2023" data-type="News" data-function="article-year" data-year="2023" class="ui button secondary"> 2023 </a> <a id="News-2022" data-type="News" data-function="article-year" data-year="2022" class="ui button secondary"> 2022 </a> </div> </div> </div> </div> <div class="ui section remove-top-padding remove-bottom-padding"> <div class="ui stackable grid center aligned"> <div class="sixteen column wide"> <div class="ui icon input" id="search-field-container"> <i class="search link icon power-search"></i> <input type="text" placeholder="Enter your search keywords..." id="search-field" data-type="News"> <i class="close link icon" id="clear-box" data-type="News"></i> </div> <a id="search" class="ui button" data-type="News" data-function="article-search"> Submit </a> </div> </div> </div> <div class="ui section" id="News" data-year="2025"> <div class="ui stackable four cards container" data-id="2025" style="display: flex"> <a class="ui card" href="/news/esg-isn-t-going-away-but-it-will-change/" meta-data="ESG isn’t going away, but it will change, , 03 FEBRUARY 2025, , , <p class="MsoNormal">Despite political debates around climate reporting, ESG remains a critical factor in business strategy, says Dugald Higgins, Head of Responsible Investment and Sustainability at Zenith Investment Partners.</p>
<p class="MsoNormal">While Australia’s federal Coalition has pledged to abolish climate reporting requirements under the Australian Sustainability Reporting Standards (ASRS) if elected, ESG considerations are deeply embedded in corporate decision-making and will continue to evolve.</p>
<p class="MsoNormal">“Sustainability isn’t dictated by political cycles. It’s driven by economic and environmental realities,” Mr Higgins said.</p>
<p class="MsoNormal">“ESG and sustainability aren’t disappearing; they are maturing.”</p>
<p class="MsoNormal">Regardless of political shifts, businesses will continue to determine what ESG factors are material to their operations. A significant majority of ASX200 companies are already reporting, or have committed to reporting, under the Taskforce for Climate-related Financial Disclosures (TCFD) framework.</p>
<p class="MsoNormal">“Businesses decide what is material to their business. These companies have already invested in sustainability reporting, and they are unlikely to stop,” Mr Higgins said.</p>
<p class="MsoNormal">“While today’s challenges may temporarily slow momentum, they will also shape a more sophisticated and economically driven approach to ESG.”</p>
<p class="MsoNormal">Internationally, regulators are ramping up efforts to standardise sustainability reporting.</p>
<p class="MsoNormal">Mr Higgins said Australia was among the first countries to mandate an International Sustainability Standards Board-aligned (ISSB) standard, which came into effect this year. Other key investment hubs in the APAC region, including Hong Kong and Singapore, have also adopted ISSB standards.</p>
<p class="MsoNormal">Currently, 30 regional jurisdictions are working on introducing ISSB standards to their respective regulatory frameworks.</p>
<p class="MsoNormal">“These jurisdictions represent over half of global GDP, including 70 per cent of Australia’s export partners,” Mr Higgins said.</p>
<p class="MsoNormal">“While regulation is converging, we are also seeing politicians, companies and investors begin to scale back some stances as shifting geopolitical dynamics alter, particularly in the United States and European Union.</p>
<p class="MsoNormal">“Despite these shifts, it doesn’t mean ESG is being abandoned, they are just going to be more focussed on ESG and sustainability as a driver of economic opportunities and demonstrating the value of these policies.</p>
<p class="MsoNormal">“Changes to green energy incentives and other sustainability focused investments can reflect populist policies, but they don’t change the long-term drivers of decarbonisation.”</p>"> <div class="image"> <img src="/media/cg3bua2k/istock-1190336132.jpg?width=400&height=300&v=1db75da5d759970"> </div> <div class="content"> <div class="header secondaryForeColor">ESG isn’t going away, but it will change</div> <div class="meta"> <sub class="darkForeColor"> <strong> 03 FEBRUARY 2025 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/volatility-returns-to-equity-markets-as-bond-yields-jump/" meta-data="Volatility returns to equity markets as bond yields jump, Damien Hennessy, 21 JANUARY 2025, , , <p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">As stock markets navigate heightened volatility and rising bond yields in 2025, investors are reducing bets on interest rate cuts in the US and pricing in more potential inflation under a Donald Trump government, which could continue to weigh on stock markets, according to </span><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">Damien Hennessy, Head of Asset Allocation with Zenith Investment Partners.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">Given Donald Trump's pro-growth economic policies, financial markets are pricing in a higher underlying level of real yields and modestly higher inflation.&nbsp;</span><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">Combined with inflationary factors and record levels of US debt, this has driven bond yields higher and produced more volatility within equity markets.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“Bond yields are rising because the US economy has been much stronger than expected, and the disinflation we have seen over the last 12 to 18 months in the US economy has run into headwinds. That is now starting to challenge US equity market valuations,” said Mr Hennessy.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“Looking back to September and the lows in bond yields, investors were predicting a high risk of recession in the US, and markets were betting on official interest rates falling to 2.8 per cent by early 2026. That number has lifted to about 4 per cent. Bond markets have gone from anticipating perhaps nine interest rate cuts, to possibly one or two more - that is quite a turnaround.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“Investors are now asking themselves if they are being sufficiently compensated for the risk of investing in equities,” he said.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">US 10-year Treasury yields have climbed toward 4.8 per cent this year, a jump that has shaken US stock markets and hurt bond prices. The US dollar has also jumped, pushing the Australian dollar down towards US62 cents, from around US69 cents in September. </span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">While some bond traders now believe the US Federal Reserve could pause interest rate cuts at its next monetary policy meeting scheduled for 28-29 January after Donald Trump enters the White House, Mr Hennessy isn’t sure inflation will reaccelerate as much as markets expect under a Trump government.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“The market is pricing in a fair few of Trump’s policies being implemented quickly in 2025, and that economic growth will stay strong at about 2.8 per cent. However, we believe some of those expectations will be challenged and not all of Trump’s policies will be implemented as quickly as markets expect,” he said.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">This has improved valuations in the bond market, which would draw investors.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“On balance, at close to 5 per cent, bonds start to look like reasonable value in a long-term sense and relatively attractive, so this could be an opportunity for investors to add bonds and duration to portfolios,” Mr Hennessy said.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">“Up until now equity markets have largely ignored rising bond yields, but there comes a point at which rising bond yields challenge equity valuations. &nbsp;Given that the extra risk premium from holding a broad index of equities compared to a bond has declined, investors need to be even more confident that earnings growth will be sustained.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“I expect that market concerns about high bond yields and how this impacts equity valuations will remain a focus for markets for most of 2025,” he said.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">Regarding the Australian share market, Mr Hennessy expressed caution given a flat earnings outlook and relatively high equity valuations. While a potential cut in interest rates could boost investor sentiment, consumer and business confidence remain fragile, adding pressure to financial markets. </span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">"Domestically, valuations are extended and it is an uphill battle for Australian equities. We don't have an overwhelmingly positive outlook. A rate cut could help sentiment somewhat, but the Australian share market is still pretty challenged," he said.</span><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US"><span style="font-size: 11.0pt; font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-font-kerning: 0pt; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;" lang="EN-US"></span></span></p>"> <div class="image"> <img src="/media/xrwl2gak/damien-hennessy.jpg?width=400&height=300&v=1d86b954ed23dd0"> </div> <div class="content"> <div class="header secondaryForeColor">Volatility returns to equity markets as bond yields jump</div> <div class="meta"> <sub class="darkForeColor"> <strong> 21 JANUARY 2025 <br> DAMIEN HENNESSY </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> </div> <div class="ui stackable four cards container" data-id="2024" style="display: none"> <a class="ui card" href="/news/zenith-retains-status-as-no-1-research-house/" meta-data="Zenith retains status as no. 1 research house, , 19 DECEMBER 2024, , , <p class="MsoNormal">Zenith has retained its status as the no. 1 research house in Peter Lee Associates annual evaluation of research houses by institutional investors. Peter Lee’s Relationship Strength Index score is an indicator of overall research capability, as rated by portfolio managers and heads of equities at institutional investors.</p>
<p class="MsoNormal">The 2024 survey results show Zenith with the lead position across four key metrics including most thorough research, most independent reports, most prepared when meeting with asset managers and most consistent approach. The business is also acknowledged for its low staff turnover.</p>
<p class="MsoNormal"><a style="mso-comment-reference: GK_1; mso-comment-date: 20241219T1055;"></a><span class="MsoCommentReference"><span style="font-size: 8.0pt; line-height: 115%;"></span></span>Zenith Group Head of Research, Grant Kennaway, said that the acknowledgment was a testament to the quality and capability of the research team and their in-depth, rigorous research process.</p>
<p class="MsoNormal">“The depth of experience of our team, the ease at which they engage with rated managers, our research rigour and consistency of application of our process are factors that have consistently set us apart from other research providers. We’re so pleased to be acknowledged by the market in this way,” he said.</p>
<p class="MsoNormal">For more information about Peter Lee Associates’ research activities please go to&nbsp;<a href="http://www.peterleeassociates.com.au/">www.peterleeassociates.com.au</a>. &nbsp;</p>"> <div class="image"> <img src="/media/xlabckux/no-1-research-house.png?width=400&height=300&v=1db51ab5dc460d0"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith retains status as no. 1 research house</div> <div class="meta"> <sub class="darkForeColor"> <strong> 19 DECEMBER 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/zenith-expands-business-development-team-to-drive-national-growth/" meta-data="Zenith expands business development team to drive national growth, , 17 DECEMBER 2024, , , <p class="MsoNormal">Zenith Investment Partners (Zenith) has made two new appointment to its business development team – Jim Wang and Doug Hope. They will be based in Sydney and will report to Zenith’s Head of Sales, Glenn Boyes.</p>
<p class="MsoNormal">Mr Wang joins Zenith as Business Development Manager, Institutional. In this role he will be responsible for all technology and data sales to institutional clients nationally, focusing on the asset manager, platform and technology client segments.</p>
<p class="MsoNormal">Mr Wang joins Zenith from Preqin where he focused on alternative assets data and analytics sales. Prior to this role, he was with GlobalData Plc as its business development manager professional services. He has also held senior roles with Nielsen working in the retail and FMCG space, and before that with Euromonitor International in strategic consumer research.</p>
<p class="MsoNormal">Mr Boyes said: “Jim's expertise in data analytics and client relations will be instrumental in further developing Zenith’s institutional relationships.</p>
<p class="MsoNormal">“His experience with Preqin, in particular, brings valuable experience selling data and technology solutions into the funds management and institutional markets.”</p>
<p class="MsoNormal">Mr Hope has been appointed in the newly created role of Business Development Manager focusing on adviser solutions nationally, supporting the growth of the Group’s advice tools including Zenith Mosaic, Chant West’s Switching Tools and FE Analytics.</p>
<p class="MsoNormal">He joins Zenith from Morningstar where he was Director, Advice Software Solutions. In this role, he was responsible for refining and executing business strategies for the adviser and licensee segments in Australia and New Zealand. Previously, he held business development roles with HUB24 and Innova Asset Management, also spending seven years with Macquarie Group in various account manager and business development manager roles.</p>
<p class="MsoNormal">“Doug brings a wealth of experience to the role particularly in the adviser research and analytics space, with direct experience across managed accounts, investment sales, sales management, cloud-based accounting software and fintech. He is a welcome addition to the team.</p>
<p class="MsoNormal">“These strategic appointments underscore Zenith’s commitment to strengthening our institutional and adviser relationships across Australia. Both Jim and Doug bring valuable expertise to their respective areas, and we are confident they will contribute significantly to our continued growth in 2025 and beyond.”</p>
<p class="MsoNormal">Mr Wang and Mr Hope started their new roles on 2 December 2024.</p>"> <div class="image"> <img src="/media/4ujfyg0v/glenn-boyes-2.jpg?width=400&height=300&v=1db5016d3171710"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith expands business development team to drive national growth</div> <div class="meta"> <sub class="darkForeColor"> <strong> 17 DECEMBER 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/peter-connolly-appointed-business-development-manager-for-qldnt/" meta-data="Peter Connolly appointed Business Development Manager for QLD/NT, , 20 NOVEMBER 2024, , , <p class="MsoNormal">Zenith Investment Partners has appointed <span style="mso-fareast-font-family: 'Times New Roman'; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; color: black; mso-fareast-language: EN-GB;">Peter Connolly </span><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">as Business Development Manager for the Queensland and Northern Territory region. He will be based in Brisbane and report to Head of Sales, Glenn Boyes.</span></p>
<p class="MsoNormal"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Mr Connolly joins Zenith most recently from Fitzpatrick Private Wealth Partners where he worked for over 8 years as a senior financial planner and director. Prior to this, he was a principal adviser at Centric Wealth, a position he held for nearly 10 years. He has also held business development and state management roles at Goldman Sachs JBWere and AMP.</span></p>
<p class="MsoNormal"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Mr Boyes says that Mr Connolly will focus on business development opportunities for Zenith’s market leading research and extensive managed account capabilities.&nbsp;</span></p>
<p class="MsoNormal"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">“Peter has decades of experience both as an adviser and in various business development roles. His depth of experience in financial services, particularly as a financial adviser, will be really valuable to help ensure we’re delivering our services and solutions in a way that meets the needs of our growing adviser base.&nbsp;</span></p>
<p class="MsoNormal"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">“He also has first-hand understanding of the benefits of managed accounts for advisers and their clients including the importance of quality investment research in driving strong outcomes.”</span></p>
<p class="MsoNormal"><span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;">Mr Connolly has a Diploma of Financial Planning from RMIT University, a Bachelor of Commerce, Accounting and Finance from Griffith University and a Master of Commerce (Financial Planning) from Western Sydney University.</span></p>"> <div class="image"> <img src="/media/kvpdllqk/peter-connolly.png?width=400&height=300&v=1db3b14a2fdfa60"> </div> <div class="content"> <div class="header secondaryForeColor">Peter Connolly appointed Business Development Manager for QLD/NT</div> <div class="meta"> <sub class="darkForeColor"> <strong> 20 NOVEMBER 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/q4-2024-market-update-global-small-caps-set-to-outperform/" meta-data="Q4 2024 Market Update: Global small caps set to outperform, , 04 NOVEMBER 2024, market impacts, US election, , <p class="MsoNormal">As monetary policy eases globally, a much more supportive and conducive environment is emerging for global small caps and emerging markets, according to Zenith Investment Partners Co-founder and Investment Director, David Wright.</p>
<p class="MsoNormal">“The valuations of global small caps have been pretty attractive for a period of time. On the sentiment side, certainly price momentum and rising risk appetite is apparent and that's a positive.</p>
<p class="MsoNormal">“We're taking some overweight positions in both of those asset classes,” Mr Wright said.</p>
<p class="MsoNormal"><strong>US soft landing</strong></p>
<p class="MsoNormal">While it looks like the US has mostly achieved a soft landing, Zenith’s Head of Asset Allocation, Damien Hennessy, pointed out that soft landings are actually quite rare.</p>
<p class="MsoNormal">“We've had a soft landing as our base case for probably the past 12 to 15 months and it seems to be unfolding,” he said.</p>
<p class="MsoNormal">“There are certainly risks around that, and we've highlighted those - a recession as a 20 per cent likelihood and a 15 per cent probability attached to the higher for longer, or the strong growth, sticky inflation scenario,” Mr Hennessy said.</p>
<p class="MsoNormal">“Markets have been going for a very aggressive rate cutting cycle in the US but as we've seen in the last few weeks, markets are just starting to have another look at that and wonder if the economy is not slowing that much – that maybe it doesn't need a lot of rate cuts. That's been our view for a while.”</p>
<p class="MsoNormal">As well as global small caps and emerging markets, Mr Wright says quality companies are also likely to do well in a soft-landing scenario.</p>
<p class="MsoNormal">“Just as a reminder, quality is represented in equities through aspects such as strong balance sheets, stable earnings, growing earnings and low levels of debt. &nbsp;With parts of equity markets being expensive, you really want to focus on those types of companies, should we have a pullback, and those that will continue to perform well in the soft-landing scenario,” Mr Wright said.</p>
<p class="MsoNormal"><img style="display: block; margin-left: auto; margin-right: auto;" src="/media/ytffzgnm/us-election.png?rmode=max&amp;width=500" alt="" width="500" height="278"></p>
<p class="MsoNormal">With the US election imminent, Zenith believes the most likely outcome is either Trump as president with split Congress or a Harris presidency with split Congress.</p>
<p class="MsoNormal">“Trump has gained a bit of momentum in a number of polls and either totally removed the lead that Harris had, or at least has it neck and neck,” Hennessy said.</p>
<p class="MsoNormal">“A Trump presidency with a split Congress would probably see bond yields peak, equities improve, and the USD rise slightly, while a Harris presidency would still have equities improving but bond yields lower and the USD lower.</p>
<p class="MsoNormal">“There's also been talk of a Republican clean sweep. Under that scenario, markets would focus on the policy mix including higher tariffs, extended tax cuts, ongoing fiscal spending, and perhaps cuts to immigration.</p>
<p class="MsoNormal">“Those three or four policy planks are generally seen as inflationary, so the market is beginning to price this in as a possibility,” Hennessy said.</p>
<p class="MsoNormal">“And although the election is less than 24 hours away, the result may not be known for a little while after that.”</p>"> <div class="image"> <img src="/media/1kplecwv/david_wright_071.jpg?width=400&height=300&v=1d85e3c08357740"> </div> <div class="content"> <div class="header secondaryForeColor">Q4 2024 Market Update: Global small caps set to outperform</div> <div class="meta"> <sub class="darkForeColor"> <strong> 04 NOVEMBER 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-reveals-winners-of-2024-fund-awards/" meta-data="Zenith reveals winners of 2024 Fund Awards, Zenith Investment Partners, 21 OCTOBER 2024, Fund Awards, , <p>The winners of the 2024 Zenith Fund Awards have been announced at a presentation in Sydney today.</p>
<p>The annual awards recognise the best in funds management across various major asset classes and disciplines, with the aim of raising the standard of funds management for the ultimate benefit of investors.&nbsp;</p>
<p>Winners were announced across 24 categories including Rising Star, Distributor of the Year, Index Fund Manager of the Year and the major award, Fund Manager of the Year.</p>
<p>The <strong>2024 Fund Manager of the Year</strong> went to GQG Partners. They also won in the categories of <strong>International Equities – Emerging Markets &amp; Regional</strong> and <strong>International Equities – Global</strong>.</p>
<p>The <strong>Rising Star</strong> category went to GCQ Funds Management, while <strong>Distributor of the Year</strong> was awarded to Pinnacle Investment Management.</p>
<p>In a fitting announcement, this year’s <strong>Industry Contribution Award</strong> went to respected industry veteran and Pinnacle Founder and Managing Director, Ian Macoun.&nbsp;</p>
<p><strong>Index Fund Manager of the Year</strong> went to Vanguard Investments Australia for the second year in a row. Also attracting the same award two years in a row was MLC Asset Management in the <strong>Multi-Asset Diversified</strong> category.</p>
<p>Zenith managing director Jason Huddy said each finalist is a leader in their field and has displayed investment excellence across both qualitative and quantitative criteria over the last year and the longer term.</p>
<p>“As has been our focus in previous years, today’s awards recognise and honour excellence in funds management across all asset classes and disciplines. We believe that this is fundamental to continuing to raise the standards of funds management in our industry for the ultimate benefit of investors,” Mr Huddy said.</p>
<p>“Since our first awards ceremony in 2012, when we had just 17 categories of awards, we’ve grown to deliver awards in 24 categories right across the sector.</p>
<p>&nbsp;</p>
<h3><strong>The full list of winners</strong></h3>
<table border="0" width="662" style="width: 788px; height: 1536.56px;">
<tbody>
<tr style="height: 43.9875px;">
<td width="331" style="width: 466.125px; height: 43.9875px; text-align: left;">
<p>Category Name</p>
</td>
<td width="331" style="width: 315.168px; height: 43.9875px;">
<p>Winner</p>
</td>
</tr>
<tr style="height: 66px;">
<td width="331" style="width: 466.125px; height: 66px; text-align: left;">
<p>AREIT</p>
</td>
<td width="331" style="width: 315.168px; height: 66px;">
<p>UBS Asset Management (Australia) Ltd and CBRE Investment Management</p>
</td>
</tr>
<tr style="height: 70px;">
<td width="331" style="width: 466.125px; height: 70px; text-align: left;">
<p>Global REIT</p>
</td>
<td width="331" style="width: 315.168px; height: 70px;">
<p>Quay Global Investors</p>
</td>
</tr>
<tr style="height: 63px;">
<td width="331" style="width: 466.125px; height: 63px; text-align: left;">
<p>Real Assets</p>
</td>
<td width="331" style="width: 315.168px; height: 63px;">
<p>Warakirri Asset Management</p>
</td>
</tr>
<tr style="height: 67px;">
<td width="331" style="width: 466.125px; height: 67px; text-align: left;">
<p>Infrastructure</p>
</td>
<td width="331" style="width: 315.168px; height: 67px;">
<p>ClearBridge Investments Limited</p>
</td>
</tr>
<tr style="height: 61.7875px;">
<td style="width: 466.125px; text-align: left; height: 61.7875px;">
<p>Private Markets - NEW CATEGORY</p>
</td>
<td style="width: 315.168px; height: 61.7875px;">
<p>Metrics Credit Partners</p>
</td>
</tr>
<tr style="height: 62px;">
<td width="331" style="width: 466.125px; height: 62px; text-align: left;">
<p>Global &amp; Diversified Fixed Interest</p>
</td>
<td width="331" style="width: 315.168px; height: 62px;">
<p>PIMCO</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 466.125px; height: 64px; text-align: left;">
<p>Australian Fixed Interest</p>
</td>
<td width="331" style="width: 315.168px; height: 64px;">
<p>Realm Investment House</p>
</td>
</tr>
<tr style="height: 63px;">
<td width="331" style="width: 466.125px; height: 63px; text-align: left;">
<p>Multi Asset - Diversified</p>
</td>
<td width="331" style="width: 315.168px; height: 63px;">
<p>MLC Asset Management</p>
</td>
</tr>
<tr style="height: 59px;">
<td width="331" style="width: 466.125px; height: 59px; text-align: left;">
<p>Multi Asset - Real Return</p>
</td>
<td width="331" style="width: 315.168px; height: 59px;">
<p>Perpetual Asset Management Limitd</p>
</td>
</tr>
<tr style="height: 57.7875px;">
<td style="width: 466.125px; text-align: left; height: 57.7875px;">
<p>Liquid Alternative Strategies - NEW CATEGORY</p>
</td>
<td style="width: 315.168px; height: 57.7875px;">
<p>Winton Capital Management – Macquarie Professional Series</p>
</td>
</tr>
<tr style="height: 63px;">
<td width="331" style="width: 466.125px; height: 63px; text-align: left;">
<p>International Equities - Emerging Markets &amp; Regional</p>
</td>
<td width="331" style="width: 315.168px; height: 63px;">
<p>GQG Partners</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 466.125px; height: 64px; text-align: left;">
<p>International Equities - Alternative Strategies</p>
</td>
<td width="331" style="width: 315.168px; height: 64px;">
<p>Acadian Asset Management LLC</p>
</td>
</tr>
<tr style="height: 66px;">
<td width="331" style="width: 466.125px; height: 66px; text-align: left;">
<p>International Equities - Global</p>
</td>
<td width="331" style="width: 315.168px; height: 66px;">
<p>GQG Partners</p>
</td>
</tr>
<tr style="height: 62px;">
<td width="331" style="width: 466.125px; height: 62px; text-align: left;">
<p>International Equities - Global Small Caps</p>
</td>
<td width="331" style="width: 315.168px; height: 62px;">
<p>Fairlight Asset Management</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 466.125px; height: 64px; text-align: left;">
<p>Australian Equities - Alternative Strategies</p>
</td>
<td width="331" style="width: 315.168px; height: 64px;">
<p>QVG Capital</p>
</td>
</tr>
<tr style="height: 66px;">
<td width="331" style="width: 466.125px; height: 66px; text-align: left;">
<p>Australian Equities - Small Caps</p>
</td>
<td width="331" style="width: 315.168px; height: 66px;">
<p>Lennox Capital Partners</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 466.125px; height: 64px; text-align: left;">
<p>Australian Equities - Large Caps</p>
</td>
<td width="331" style="width: 315.168px; height: 64px;">
<p>Smallco Investment Manager</p>
</td>
</tr>
<tr style="height: 62px;">
<td width="331" style="width: 466.125px; height: 62px; text-align: left;">
<p>Sustainable and Responsible Investments - Income</p>
</td>
<td width="331" style="width: 315.168px; height: 62px;">
<p>Pendal Institutional Limited</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 466.125px; height: 64px; text-align: left;">
<p>Sustainable and Responsible Investments - Growth</p>
</td>
<td width="331" style="width: 315.168px; height: 64px;">
<p>Alphinity Investment Management</p>
</td>
</tr>
<tr style="height: 58px;">
<td width="331" style="width: 466.125px; height: 58px; text-align: left;">
<p>Index Fund Manager of the Year</p>
</td>
<td width="331" style="width: 315.168px; height: 58px;">
<p>Vanguard Investments Australia</p>
</td>
</tr>
<tr style="height: 56px;">
<td width="331" style="width: 466.125px; height: 56px; text-align: left;">
<p>Rising Star</p>
</td>
<td width="331" style="width: 315.168px; height: 56px;">
<p>GCQ Funds Management</p>
</td>
</tr>
<tr style="height: 58px;">
<td width="331" style="width: 466.125px; height: 58px; text-align: left;">
<p>Industry Contribution Award</p>
</td>
<td width="331" style="width: 315.168px; height: 58px;">
<p>Ian Macoun</p>
</td>
</tr>
<tr style="height: 56px;">
<td width="331" style="width: 466.125px; height: 56px; text-align: left;">
<p>Distributor of the Year</p>
</td>
<td width="331" style="width: 315.168px; height: 56px;">
<p>Pinnacle Investment Management</p>
</td>
</tr>
<tr style="height: 56px;">
<td width="331" style="width: 466.125px; height: 56px; text-align: left;">
<p>Fund Manager of the Year</p>
</td>
<td width="331" style="width: 315.168px; height: 56px;">
<p>GQG Partners</p>
</td>
</tr>
</tbody>
</table>"> <div class="image"> <img src="/media/sgpjyy4f/website-tile_square_zenith-award-2024.png?width=400&height=300&v=1db24fb92d4c350"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith reveals winners of 2024 Fund Awards</div> <div class="meta"> <sub class="darkForeColor"> <strong> 21 OCTOBER 2024 <br> ZENITH INVESTMENT PARTNERS </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-announces-new-appointment-to-leadership-team/" meta-data="Zenith announces new appointment to leadership team, , 15 OCTOBER 2024, , , <p class="MsoNormal">Zenith Investment Partners has appointed experienced investment executive, Grant Kennaway, to the new role of group head of research.</p>
<p class="MsoNormal">In this role, he will be responsible for leading the delivery and expansion of the combined investment and super fund research program to financial advisers and platforms across Australia. He will report to managing director, Jason Huddy, commencing in the role on 11 November.</p>
<p class="MsoNormal">Mr Kennaway has a wealth of experience across asset management, investment research and investment consulting, both in Australia and globally including Asia and the US.</p>
<p class="MsoNormal">Most recently, he worked with Morningstar as its global head of manager selection. Previously, he worked with Lonsec for over 10 years in a number of roles including general manager research and head of managed funds research.</p>
<p class="MsoNormal">Mr Huddy said Mr Kennaway is a high calibre appointment who will work across both the Zenith and Chant West brands in his new role.</p>
<p class="MsoNormal">“Grant is a highly respected executive with broad experience leading large and diverse teams. He has a passion for research and how this can be delivered to advisers and platforms, for the benefit of investors. He also brings to the team important experience in working through regulatory and market changes, which continue to play a role in shaping the investment and super landscape for advisers and their clients.&nbsp;</p>
<p class="MsoNormal">“His depth of knowledge of the Australian market is exceptional and he will be a great asset to the business in this pivotal role and a strong complement to the existing team of seasoned analysts within the group,” Mr Huddy said.</p>
<p class="MsoNormal">Kennaway will lead the combined team of 20 and will be based in the business’ Melbourne office.</p>"> <div class="image"> <img src="/media/pbuf42ss/jason-huddy.jpg?width=400&height=300&v=1da7e9e71ca5930"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith announces new appointment to leadership team</div> <div class="meta"> <sub class="darkForeColor"> <strong> 15 OCTOBER 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/greenruling-greenwashing-risks-on-the-rise/" meta-data="‘Greenruling’ – greenwashing risks on the rise, Dugald Higgins, 24 SEPTEMBER 2024, , , <p style="margin: 0cm; background: white;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">The Australian regulator is taking an increasingly aggressive stance against greenwashing, having issued approximately $11.4 million in penalties within the funds management industry since 2022, and this amount is set to jump in the wake of ongoing legal cases, says Zenith Investment Partners head of responsible investment and sustainability, Dugald Higgins.</span></p>
<p style="margin: 0cm; background: white;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm; background: white;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: black; mso-color-alt: windowtext; background: white;">He says the recent Federal Court case involving Active Super should serve as a universal warning for fund managers.</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“The Active Super case&nbsp;puts fund managers on notice that they can’t rely on technicalities and evidence to support reasonable grounds. They must also consider how the information will be understood by a reasonable person,” Mr Higgins said.&nbsp; </span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: black; mso-color-alt: windowtext; background: white;">Although regulatory guidelines provide direction, a growing collection of case law adds complexity as regulators and courts try to apply existing laws to swiftly changing problems.</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“The courts have clearly signalled they have little patience for a rigid or technical interpretation of language. &nbsp;A new term, ‘greenruling’, is coming into play, where too much reliance is placed on </span><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: black; mso-color-alt: windowtext; background: white;">rules and technicalities in disclosures, not what a realistic explanation should be.</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“It is vital for issuers to cautiously tread the line between what is considered reasonable grounds and how a reasonable individual would interpret any claims. This is not in conflict with ASIC’s guidelines, which focus more on emphasising that claims must be founded on&nbsp;reasonable grounds,” he said.</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">Zenith sees the Active Super case as providing a critical learning opportunity for the investment industry. </span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">When putting a claim through any greenwashing test, Mr Higgins says evidence is essential to back any claim. &nbsp;Following the Active Super case, he has developed a six-question test for fund managers to test for greenwashing.</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“First, product providers must ask if a claim&nbsp;is transparent,&nbsp;accurate and clear to ensure an informed choice? </span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“The second question is whether there’s current,&nbsp;credible&nbsp;evidence to support any claim? </span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“Thirdly, does it tell the&nbsp;entirety&nbsp;of the story without obscuring the other parts of the overall impact?</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“The fourth element is whether the claim is unconditional, or does it contain partially correct or incorrect aspects, or are there conditions that apply? If there are caveats, are they transparent?&nbsp;</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“Fifth - if&nbsp;product comparisons&nbsp;are used, is the basis for the comparisons fair, accurate and clear? </span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“And finally, product providers must ask if the claims&nbsp;are simple&nbsp;enough to be understood and assessed by consumers?”.</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;"><img style="display: block; margin-left: auto; margin-right: auto;" src="/media/b2kkdjtd/for-greenruling-article.png?rmode=max&amp;width=342&amp;height=312" alt="" width="342" height="312"></span></p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">“Clearly, in light of recent events, it’s the question of&nbsp;simplicity&nbsp;that’s easy to misjudge. We all recognise that claims must be supported by reasonable grounds, and reasonable grounds must be supported by evidence. However, we also need to recognise that while evidence is part of the solution, it must not be at the expense of understanding,” Mr Higgins said.</span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>
<p style="margin: 0cm;" class="xmsonormal"><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">The Australian financial regulator recently published a report on its actions against greenwashing misconduct for the 2023–2024 period (</span><a href="https://asic.gov.au/regulatory-resources/find-a-document/reports/rep-791-asic-s-interventions-on-greenwashing-misconduct-2023-2024/">REP 791</a><span style="font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: #201f1e; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">) and concluded that their “surveillance indicates there is ample room for improvement”. The report highlights that greenwashing is not uncommon among investment managers and there is the potential for consumers to be misled. </span></p>
<p style="margin: 0cm;" class="xmsonormal">&nbsp;</p>"> <div class="image"> <img src="/media/ejghj105/globe-and-magnifying-glass.jpg?width=400&height=300&v=1db0d873a0ae460"> </div> <div class="content"> <div class="header secondaryForeColor">‘Greenruling’ – greenwashing risks on the rise</div> <div class="meta"> <sub class="darkForeColor"> <strong> 24 SEPTEMBER 2024 <br> DUGALD HIGGINS </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/zenith-expands-national-managed-account-footprint/" meta-data="Zenith expands national managed account footprint, , 17 SEPTEMBER 2024, , , <p class="MsoNormal">Zenith Investment Partners continues its managed account portfolio growth trajectory with the launch of several new managed account portfolios this quarter, including a suite tailored for recently onboarded advice clients, in addition to the roll-out of its Essentials portfolios on Insignia Expand. &nbsp;</p>
<p class="MsoNormal">The group’s growing, national managed account footprint incorporates the recent launch of several customised portfolios including for Finsec Partners in Adelaide.</p>
<p class="MsoNormal"><span style="mso-bidi-font-weight: bold;">Andrew Creaser, Partner with FinSec Partners, said that he was really pleased with the smooth transition to an outsourced model and is looking forward to the efficiency benefits delivered through Zenith’s customised portfolio.&nbsp;</span></p>
<p class="MsoNormal"><span style="mso-bidi-font-weight: bold;">“The decision to move to a customised managed account was a significant one for our business. We spent time building confidence in Zenith’s people managing the portfolio, their portfolio construction methodology and their tailored approach, ensuring it aligned with ours. The transition process to date has been very straight-forward and well supported,” he said.</span></p>
<p class="MsoNormal">Steven Tang, Zenith’s head of portfolio solutions, said the Essentials portfolios were launched on Insignia’s Expand platform in July and showcase their wealth of portfolio management experience and internal capabilities in fund research, manager selection and asset allocation, now to a broader range of advisers. &nbsp;</p>
<p class="MsoNormal">“The Essentials portfolios are designed to achieve their return objectives with lower risk across all markets and time frames, using a combination of active managed funds and lower cost options such as index funds,” Tang said.</p>
<p class="MsoNormal">&nbsp;“Improving accessibility of our off-the-shelf portfolios has been a big driver of the expansion of our platform footprint and our public menu portfolios are now available across 10 platforms, making our range of portfolios widely accessible across major platforms,” he said.</p>
<p class="MsoNormal">Zenith currently manages $5.3 billion in client assets across both public menu and customised managed account portfolios.</p>"> <div class="image"> <img src="/media/grejpajd/steven-tang.jpg?width=400&height=300&v=1d866c81afcd820"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith expands national managed account footprint</div> <div class="meta"> <sub class="darkForeColor"> <strong> 17 SEPTEMBER 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/market-volatility-will-persist-in-short-term-which-requires-medium-to-longer-term-focus/" meta-data="Market volatility will persist in short term which requires medium to longer-term focus, Damien Hennessy, 21 AUGUST 2024, , , <p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">As stock markets navigate heightened volatility and rising tensions in the Middle East, Zenith Investment Partners says the challenge for investors is to stay focused on medium-longer term outcomes and building robust portfolios that will deliver on those outcomes.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“Global stock markets have experienced rapid mood swings recently, flipping between optimism and pessimism, highlighting the fickle nature of sentiment. Headlines have attributed this volatility to various factors including the Bank of Japan's rate hike, the weak July US jobs report and talk of recession,” says Damien Hennessy, Zenith head of asset allocation.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“We should also remember that markets had moved sharply higher over the past year and have been vulnerable to a bout of profit-taking or a correction.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“More recently, tensions in the Middle East have reached new heights as the prospect of direct conflict between Israel and Iran looms large, threatening further geopolitical instability. </span><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">The US has said it is preparing for what could be significant attacks on Israel by Iran and that it had responded by increasing its forces in the region.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“Momentum plays a significant role in markets but as we have seen, is interspersed with periods of extreme volatility and this creates challenges for investors. Do you respond, cut positions following sharp declines, or take advantage of any opportunities?&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">“We are always reassessing our market outlook in light of such events but always through the lens of what these events mean for growth, inflation, bond yields and policy,” Mr Hennessy said.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">“For example, the gyrations in the yen and Japanese equity markets in recent times highlighted the role of momentum and leverage in markets, but do they change what appears to be some favourable structural tailwinds for Japanese equities? We take the view that the Bank of Japan will not want to risk years of trying to get inflation and growth higher by lifting rates too quickly. While the yen may not be the momentum trade it was, it is unlikely to cause further violent shifts in sentiment in the near term.”</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">Other risk areas include ongoing weakness in Chinese growth and any flow-on to the Chinese currency while the US election may also be a source of volatility.</span></p>
<p class="MsoNormal">“Volatility is inherent in markets. T<span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">his year, markets have swung from ‘soft-landing’ to ‘higher for longer/no-landing’ scenarios back to ‘soft-landing’ and just recently, towards a ‘hard-landing’. This reminds us that markets are forward-looking and in an uncertain environment, they are constantly weighing up risks and opportunities, leading to marked swings in sentiment and volatility,” Mr Hennessy said.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman';" lang="EN-US">“For investors and advisers, their task is to acknowledge the uncertainty, separating the noise and headlines from the real challenge of building well diversified portfolios that will perform well over the medium and longer term,” he said.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">Turning to the US economy, a weaker-than-expected July jobs report raised concerns of a potential US recession. However, a closer look at the data reveals that the rise in the US unemployment rate was partly due to an increase in the labour supply and strong immigration, rather than a large drop in labour demand.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">“The US economy is slowing and we should expect weaker data going forward. While the so-called Sahm rule, which signals a recession when the three-month average unemployment rate rises more than 0.5 per cent from its 12-month low, was triggered in July, a broader range of indicators are not consistent with a recession in the US at this stage,” Mr Hennessy said.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“Other indicators such as consumer spending and business investment are still growing. We still believe the US economy remains on a soft-landing path, which is an outcome of central banks raising interest rates just enough to bring down inflation to their target levels, without causing a major recession or meaningful increase in unemployment levels.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-AU;">“While our base case scenario for the US, and indeed for Australia, remains a ‘soft landing’, modest recession is a risk we cannot ignore and this is why we have been steadily increasing our allocation to high-quality government bonds, known for their resilience during economic downturns,” he said.</span></p>"> <div class="image"> <img src="/media/qekdlsdp/istock-526838683.jpg?width=400&height=300&v=1d861621d49e160"> </div> <div class="content"> <div class="header secondaryForeColor">Market volatility will persist in short term which requires medium to longer-term focus</div> <div class="meta"> <sub class="darkForeColor"> <strong> 21 AUGUST 2024 <br> DAMIEN HENNESSY </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/new-in-mosaic-export-your-performance-risk-and-underlying-exposures-in-an-editable-format-new-super-investments-report/" meta-data="New in Mosaic: Export your performance, risk and underlying exposures in an editable format & NEW Super Investments Report, , 11 JUNE 2024, Mosaic, , <h2>Compare investments &amp; portfolios &amp; download to edit</h2>
<p class="MsoNormal">Available from July 2024, we're pleased to introduce a new feature in <a href="/our-solutions/zenith-mosaic/">Mosaic </a>that allows you to export your performance, risk and underlying exposure comparison metrics directly to PowerPoint. Given the flexibility of PowerPoint, you can now seamlessly incorporate these insights into your reports or presentations so you can easily share with clients or colleagues.</p>
<h3>How it works</h3>
<p><img src="/media/5k2jfonu/fcr-release.gif?rmode=max&amp;width=712&amp;height=400" alt="Download to Powerpoint" width="712" height="400"></p>
<p class="MsoNormal">Simply select your funds or portfolios, click the Export button and select the ‘Graphs &amp; Tables (PPT)’ option.</p>
<p class="MsoNormal">Underlying exposure comparison metrics are only available if your subscription includes Portfolio Builder. If you’d like to upgrade your subscription, please <a href="/contact-us/" title="Contact Us">contact our Sales team</a>.</p>
<h2>New Super Investment Rating Report now available</h2>
<p class="MsoNormal">UniSuper’s Super Investment Rating Report is now live in Mosaic thanks to our group partner, Chant West.</p>
<p class="MsoNormal">Our range of Super Investment Rating Reports is growing. Select from AMP Capital, ANZ Smart Choice, Australian Retirement Trust, Australian Super, Aware Super, Cbus Super, Mercer, MLC and now UniSuper.</p>
<p class="MsoNormal">Comparing super funds and investments has never been easier. Find all our research and ratings in one place with Zenith Mosaic. <a href="#" title="Zenith Mosaic">Learn more</a>.</p>"> <div class="image"> <img src="/media/5k2jfonu/fcr-release.gif?width=400&height=300&v=1dab611ec2ca8e0"> </div> <div class="content"> <div class="header secondaryForeColor">New in Mosaic: Export your performance, risk and underlying exposures in an editable format & NEW Super Investments Report</div> <div class="meta"> <sub class="darkForeColor"> <strong> 11 JUNE 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/global-small-caps-and-em-beneficiaries-of-economic-conditions/" meta-data="Global small caps and EM beneficiaries of economic conditions, Damien Hennessy, 04 JUNE 2024, , , <p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">Sticky services inflation is keeping inflation higher than expected, and that will likely keep interest rates on hold in the coming months, though Zenith Investment Partner’s head of asset allocation, Damien Hennessy, doesn’t rule out a rate cut by year end.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">While goods inflation has come down, services inflation is sticky in Australia, kept up by robust wages growth, according to Mr Hennessy. That could keep interest rates higher for longer in Australia, with financial markets having wound back their bets on a rate cut in coming months.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">“The labour market is slowing, so wages growth should eventually drop back. Our expectation is that inflation will stay relatively high over the short term, but we could see a return to some disinflation over the second half of the year, though it will be bumpy,” said Hennessy.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">He predicts a cut in interest rates from the Reserve Bank of Australia in the later part of 2024, possibly in November, with inflation expected to move closer to the central bank’s 2 to 3 per cent band as the Australian economy cools.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">“What has happened over the past two to three months is that a no-landing scenario, or an ‘interest rates higher for longer’ scenario, has emerged as the dominant theme. Economies are more resilient than expected and financial markets have unwound expectations for rate cuts,” Mr Hennessy said.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">“The soft landing has been our base case and that is how we’ve been building investment portfolios. Still, the outlook for interest rates and economic growth is uncertain and portfolio allocations have to allow for that.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">“From a portfolio perspective, we’re targeting areas like adding to duration for bond allocations over the past 12 months. We want to be in a position where we have more bond duration to cope with possible economic scenarios. We also like credit and are slightly overweight high-grade credit, or corporate bonds.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">“In equity markets, we’re targeting the parts of the market that are getting reward for the risk that you are taking, and that includes global smaller caps and some parts of emerging markets. We do still like quality as a factor within equity portfolios.” &nbsp;Quality companies are characterised by low debt, stable earnings growth and a strong balance sheet, which makes them more resilient to slowing economic growth. </span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">“While we favour certain asset classes, we are not betting heavily on one particular outcome, but we are trying to position portfolios to be able to cope with a range of different economic scenarios,” he said.</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">With a high level of dispersion in earnings expectations across equity markets and different sectors and stocks, Mr Hennessy said the environment is a good one for active management.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family: 'Calibri',sans-serif;" lang="EN-US">“The benefit of active managers is that they’re spending their research time and resources on the ground, meeting with companies and researching different assets to gain more in-depth information about investment opportunities. As investors, we benefit from those deep insights and connection with the market,” he said.</span></p>"> <div class="image"> <img src="/media/fuppmr54/performance-measure.jpg?width=400&height=300&v=1d984020658e370"> </div> <div class="content"> <div class="header secondaryForeColor">Global small caps and EM beneficiaries of economic conditions</div> <div class="meta"> <sub class="darkForeColor"> <strong> 04 JUNE 2024 <br> DAMIEN HENNESSY </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-still-sees-one-rba-rate-cut-in-2024-with-likely-soft-landing/" meta-data="Zenith still sees one RBA rate cut in 2024, with likely soft landing, , 01 MAY 2024, , , <p>Central banks won the battle against inflation in 2023 but as the March quarter data shows, further progress is likely to be more challenging, suggesting that the Reserve Bank of Australia (RBA) may only cut rates once this year, according to Zenith Investment Partners.</p>
<p>If underlying inflation looks like being in the 3 to 3.5 per cent range by the September quarter, Zenith’s head of asset allocation, Damien Hennessy, said he expects a cut in official rates in Australia, possibly in November.</p>
<p>“With the Australian economy slowing, a cut in interest rates could come towards the end of this year and we could possibly see another cut early next year, as households have definitely been hit by higher interest rates,” said Mr Hennessy.</p>
<p>“Even with the oil price rising and recent upside surprises to inflation, US markets appear to be relatively confident that inflation will return to around 2.5 per cent, not far above target and consistent with bond yields remaining below 5 per cent. Despite recent concerns, long-term inflation expectations have not become unanchored,” he said.</p>
<p>“However, stronger-than-expected economic growth in the US has tamed expectations for rate cuts there. While the bond market was expecting more than 2 percentage points of cuts by the US Federal Reserve at the beginning of April, that is now about 0.5 per centage points, given that monetary policy has not worked to slow growth as well as hoped.</p>
<p>“The US economy has proven fairly resilient to the rises in interest rates and much of that has to do with the fact that the majority of US mortgages, around 90%, are fixed rate. That contrasts with the situation in Australia where only about 15 per cent of mortgages are fixed rate. In addition, strong profit growth and lower interest costs for businesses that took advantage of low rates in 2020-21 has left corporate interest cover strong. Interest rates matter much more in Australia and households have been hit harder by higher rates than US households.</p>
<p>“As a result, monetary policy settings in Australia seem to be working more effectively. In the US, growth has remained resilient and that has led to the scenario of no landing being elevated in financial market forecasts, which has seen a rise in bond yields,” he said.</p>
<p>Mr Hennessy still expects a soft landing in the US or a moderate slowdown towards the end of the year.&nbsp; “We see at least a 50 per cent chance of a soft landing in the US. In terms of the risks, there is a higher chance of no landing, or no economic slowdown in the US, which is more likely than a recession,” Mr Hennessy said.</p>
<p>From a portfolio perspective, these factors are considered when Zenith determines asset allocations, according to Steven Tang, head of portfolio solutions.</p>
<p>“We are positioned for a soft landing but also conscious that there is a risk of no landing. We are focusing on those asset classes that aren’t as expensive as the US share market, including global small companies and emerging markets. Global small caps have picked up a bit more recently, but we still maintain an overweight position.</p>
<p>“We are also biased to quality stocks which we think will be better placed than the stock market more broadly for any slowdown. Quality companies are characterised by low debt, stable earnings growth and other metrics such as strength of balance sheet, which will make them more resilient to slowing economic growth.</p>
<p>“Within our defensive assets, we are moderately underweight interest-rate sensitive bonds. Instead, we’ve been investing in higher quality credit lending to strong borrowers which again has been beneficial, and this provides investors with a level of protection in a downturn.</p>
<p>“Overall, we believe we have a good balance of positions to reflect our soft landing outlook but with sufficient levers if the no landing scenario plays out, which supports more robust investment outcomes for our clients,” Mr Tang said.</p>
<p>&nbsp;</p>"> <div class="image"> <img src="/media/syrpzl55/damien-hennessy.jpg?width=400&height=300&v=1da9be906caf320"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith still sees one RBA rate cut in 2024, with likely soft landing</div> <div class="meta"> <sub class="darkForeColor"> <strong> 01 MAY 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/emerging-markets-well-placed-for-out-performance-but-china-still-a-risk/" meta-data="Emerging markets well placed for out-performance, but China still a risk, , 11 APRIL 2024, Emerging markets, , <p>Emerging markets offer growth and diversification opportunities for investors’ portfolios, but active management is essential for selecting the best investment opportunities and avoiding risky markets, according to David Wright, Investment Director with Zenith Investment Partners.</p>
<p>Higher economic growth rates can transform into the potential for investors to enjoy higher investment returns, particularly as emerging economies undergo economic transformation, he said.</p>
<p>“Emerging markets currently look compelling from a valuation standpoint compared to more expensive developed markets, particularly with some emerging countries ready to cut interest rates.</p>
<p>“Some emerging markets are ahead of developed nations in easing monetary policy, which is very supportive of share markets and growth potential in an already attractively valued space. This is something which we think is very appealing for portfolios going forward,” said Wright.</p>
<p>“Another benefit is a lack of correlation with developed share markets, providing great diversification benefits. This includes exposure to sectors not generally available locally, such as high-growth technology, which is now the largest sector in emerging markets, and that can enhance long-term investment returns,” Wright said.</p>
<p>However, there is no free lunch with investing and investors need to take on greater risk to achieve those higher returns.  </p>
<p>“The main risks with emerging market investing are regulatory uncertainty, and economic and political instability. You can see that with the Russia-Ukraine and Israel-Hamas conflicts. However, there is vast diversity within the asset class across countries and regions,” he said.</p>
<p>“Vietnam and India, for example, are experiencing rapid economic growth being driven by factors such as increasing urbanisation, relatively young workforces and populations that are growing more rapidly than in developed markets. The governments in those countries are also supporting reforms to encourage economic growth.</p>
<p>“On the other hand, you’ve got some emerging market countries particularly in Latin America and South America, for example, that are facing a lot more political instability, high inflation and currency depreciation. Here, emerging market investing carries a higher risk.</p>
<p>“China too has been more volatile given concerns around the property sector. Its debt-fuelled real estate sector has dragged down economic growth overall, as highlighted by the collapse of Evergrande. We’re still seeing the Evergrande hangover with a material pipeline of unfinished projects and a significant decline in consumer confidence. Through our active manager selections, we are maintaining an underweight exposure to the Chinese market given concerns about the property sector, slowing economic growth and potential contagion.”</p>
<p>According to Wright, this highlights the importance of active management to navigate the greater risks of investing in emerging markets.</p>
<p>“We are very strong advocates of using active managers in less efficient emerging markets. The huge benefit of active managers is that they are spending their research time and resources on the ground in different countries meeting with regulators, politicians and importantly, researching and meeting with companies to gain greater information about investment opportunities and risks. This is essential for effective emerging market investing,” he said.</p>"> <div class="image"> <img src="/media/lwkptxnm/david-wright.jpg?width=400&height=300&v=1d86b9592abee70"> </div> <div class="content"> <div class="header secondaryForeColor">Emerging markets well placed for out-performance, but China still a risk</div> <div class="meta"> <sub class="darkForeColor"> <strong> 11 APRIL 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/zenith-announces-return-of-original-partner/" meta-data="Zenith announces return of original partner, , 09 APRIL 2024, , , <p>Zenith Investment Partners today announced the return of one of its original partners and senior investment consultant, Ben Davis, to the business. The respected industry executive will return to Zenith on 1 May, working alongside investment director and founding partner, David Wright, and head of portfolio solutions, Steven Tang, in the Portfolio Solutions team.</p>
<p>Zenith managing director, Jason Huddy, said Ben’s role will add additional depth and considerable market experience to the team, and further support the growing adviser demand for Zenith’s managed account solutions.</p>
<p>“After taking 12 months away from the industry to explore personal interests, Ben’s passion for investing has been rekindled. For nearly 20 years, Ben was a respected leader with Zenith and an important contributor to our service delivery to advisers. He’s well known to many of our clients and we’re so pleased to welcome him back,” Huddy said.</p>
<p>Davis will be the primary consultant for a number of the Group’s customised managed account client businesses, adding to the breadth of market experience within the team and helping to drive the continued growth and evolution of Zenith’s managed account offering.</p>
<p>Mr Davis is returning to the business in a client-facing role – and says it is a part of the business he has missed.</p>
<p>“I’m genuinely excited about the growth and evolution of Zenith’s managed account offering over the last 12 months, so it’s a really interesting time to be joining the team.</p>
<p>“I obviously have very high regard for the broader Zenith business and the leadership team I’ll be working alongside. I’m really looking forward to supporting the portfolio solutions team in delivering its range of portfolios to their diverse and growing client base,” Davis said.</p>
<p>Zenith has been providing managed account portfolios since 2016 and currently manages close to $5 billion in FUM across its range of managed accounts, including both customised and public menu portfolio options.</p>"> <div class="image"> <img src="/media/sevkux0v/ben-davis.jpg?width=400&height=300&v=1da8a947deb0c80"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith announces return of original partner</div> <div class="meta"> <sub class="darkForeColor"> <strong> 09 APRIL 2024 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/zenith-appoints-new-group-head-of-product/" meta-data="Zenith appoints new Group Head of Product, Zenith Investment Partners , 18 JANUARY 2024, Head of Product, Staff, , <p>Zenith Investment Partners has appointed Matt Warren to the newly created role of group head of product. Mr Warren will be based in Sydney and report to managing director Jason Huddy.</p>
<p>Mr Warren joins Zenith from Colonial First State, where he worked for five years – most recently as the product director of managed accounts. Prior to this, he spent five years with ANZ, finishing as a senior product development manager. He also worked at Macquarie Group for six years in product management, superannuation and adviser servicing roles.</p>
<p>Mr Huddy highlighted the wide range of financial services experience Mr Warren brings to the new role at Zenith, including managed accounts, online broking, and investment and superannuation platforms.</p>
<p>“Our product and service offering to clients has expanded significantly over recent years. Matt is a highly experienced executive with a proven track record in managing diverse product offerings and ensuring that they remain relevant to clients. He has demonstrated success in end-to-end product management and development, including engagement with end users in developing funds management products, super and investment platform services and digital products.</p>
<p>“This experience will serve him well in his role to align Zenith’s local product strategy with the global product roadmap of our parent company, FE fundinfo, making sure that we continually deliver the best of our group solutions to clients,” Mr Huddy says.</p>
<p>Mr Warren holds a Bachelor of Commerce from The University of Sydney.</p>"> <div class="image"> <img src="/media/rbkbxqqv/matt-warren.png?width=400&height=300&v=1da47a771245d10"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith appoints new Group Head of Product</div> <div class="meta"> <sub class="darkForeColor"> <strong> 18 JANUARY 2024 <br> ZENITH INVESTMENT PARTNERS </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> </div> <div class="ui stackable four cards container" data-id="2023" style="display: none"> <a class="ui card" href="/news/zenith-ranks-1st-in-the-2023-peter-lee-associates-research-house-review/" meta-data="Zenith ranks 1st in the 2023 Peter Lee Associates Research House review, , 29 NOVEMBER 2023, Awards, rating, research house, , <p>In an evaluation of research houses by portfolio managers and heads of equities at institutional investors, Zenith has ranked a clear 1<sup>st</sup> on the Relationship Strength Index (an indicator of overall research capability) in the Peter Lee Associates annual survey. The 2023 results show Zenith with a lead position across 4 key metrics including overall research quality, most prepared when meeting with managers, most thorough research and most consistent approach.</p>
<p>Zenith General Manager and Head of Research, Bronwen Moncrieff, said that she was very pleased with the acknowledgment of the quality of the research team and their rigorous process in researching and rating funds.</p>
<p>“The depth of experience of our team, our research rigour and consistency of application of our process and philosophy are factors that have consistently set us apart from other research providers. It’s very rewarding to see them acknowledged in this year’s survey results,” she said.</p>
<p>Zenith gained its clear first place ranking with not only large investors with $ 5 billion and over in funds under management (FUM), but also small investors with under $ 5 billion in FUM. On a matched sample of 15 investors, Zenith also came out on top, followed by Lonsec and Morningstar.</p>
<p>For more information about Peter Lee Associates’ research activities please go to <a href="http://www.peterleeassociates.com.au">www.peterleeassociates.com.au</a>. &nbsp;</p>"> <div class="image"> <img src="/media/3kkf4zhk/masthead-image_coloured-dots.png?width=400&height=300&v=1da22b96a530210"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith ranks 1st in the 2023 Peter Lee Associates Research House review</div> <div class="meta"> <sub class="darkForeColor"> <strong> 29 NOVEMBER 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-dynamic-etf-and-essentials-portfolios-added-to-hub24-macquarie-wrap-platforms/" meta-data="Zenith Dynamic ETF and Essentials portfolios added to HUB24, Macquarie Wrap platforms, , 15 NOVEMBER 2023, , , <p>Zenith Investment Partners has continued to grow its managed account footprint with the addition of its <a href="/our-solutions/dynamic-etf-portfolios/">Dynamic ETF portfolios</a> to HUB24’s new Discover offer, and its Essentials portfolios to Macquarie Wrap.</p>
<p>Available via HUB24 Discover, Zenith’s Dynamic ETF portfolios incorporate a broad range of ETF exposures using a proprietary dynamic asset allocation overlay to maximise market opportunities.</p>
<p>The portfolios offer advisers and their clients an efficient way to access a range of investments such as equities, cash, bonds and commodities through the one investment vehicle.</p>
<p>Zenith head of sales, Glenn Boyes, says the addition of the Essentials portfolios to Macquarie Wrap is another step in Zenith’s expanding platform presence.</p>
<p>Designed for the more cost-conscious investor, the Essentials portfolios leverage Zenith’s strong internal capabilities in asset allocation, strategy selection and manager selection, investing in a combination of actively managed funds in addition to some lower-cost options.</p>
<p>“We’re really pleased with the continuing growth in popularity and availability of Zenith’s managed accounts, which is testament to the quality of our internal capabilities in portfolio construction, asset allocation, and fund manager research and selection,” he says.</p>
<p>“Working with high-quality platform providers like HUB24 and Macquarie Wrap ensures our public menu managed account offering is widely available to financial advisers and includes a variety of portfolios able to meet the diverse needs of investors.</p>
<p>“As one of the first multi-asset managed account providers in Australia, we’ve witnessed the continuing growth in popularity of managed accounts, as advisers have embraced the efficiency benefits of the structure for both their own business and their clients.”</p>
<p>Zenith manages nearly $5 billion in client assets across both public menu and customised managed account portfolios, which has been driven by inflows from both its public menu managed accounts and growing cohort of customised portfolio clients.</p>"> <div class="image"> <img src="/media/2157/istock-1183107764-thumbnail.jpg?width=400&height=300&v=1d783a86689cbd0"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith Dynamic ETF and Essentials portfolios added to HUB24, Macquarie Wrap platforms</div> <div class="meta"> <sub class="darkForeColor"> <strong> 15 NOVEMBER 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/zenith-reveals-winners-of-2023-fund-awards/" meta-data="Zenith reveals winners of 2023 Fund Awards, Zenith Investment Partners, 13 OCTOBER 2023, Fund Awards, , <p>The winners of the 2023 Zenith Fund Awards, now in its eleventh year, have been revealed at a presentation in Sydney today.</p>
<p>The annual awards recognise the best in funds management across various major asset classes and disciplines, with the aim of raising the standard of funds management for the ultimate benefit of investors.</p>
<p>Winners were announced across 23 categories including Rising Star, Distributor of the Year, Index Fund Manager of the Year and the major award for the Fund Manager of the Year.</p>
<p>The <strong>2023 Fund Manager of the Year</strong> went to Perpetual Asset Management Australia for the third year running. Perpetual was a finalist in five award categories, and also won in the categories of <strong>Multi Asset – Real Return,</strong> <strong>Australian Equities – Alternative Strategies</strong> and <strong>Sustainable and Responsible Investments – Income</strong>.</p>
<p>Macquarie Asset Management was the other firm to win multiple awards, winning in the <strong>Infrastructure</strong> and <strong>Global &amp; Diversified Fixed Interest</strong> categories.</p>
<p>The <strong>Rising Star</strong> category went to Aikya Investment Management, while <strong>Distributor of the Year</strong> was awarded to Fidante Partners for the fourth consecutive year.</p>
<p>The <strong>2023 Industry Contribution Award</strong> went to respected industry veteran and Investors Mutual founder, Anton Tagliaferro.</p>
<p><strong>Index Fund Manager of the Year</strong> went to Vanguard Investments Australia. This category was introduced last year in response to continued growth in the sector and Zenith’s introduction of a ratings process tailored specifically for index funds.</p>
<p>Zenith chief executive officer David Wright said each finalist is a leader in their field and has displayed investment excellence across both qualitative and quantitative criteria over the last year and the longer term.</p>
<p>“As has been our focus in previous years, today’s awards recognise and honour excellence in funds management across all asset classes and disciplines. We believe that this is fundamental to continuing to raise the standards of funds management in our industry for the ultimate benefit of investors,” Mr Wright said.</p>
<p>“Since our first awards ceremony in 2012, when we had just 17 categories of awards, we’ve grown to deliver awards in 23 categories presented to a sold-out event with over 360 of the industry’s key people in attendance.</p>
<p>“While this may be my last awards ceremony as Group CEO, I look forward to celebrating with the best of the funds management industry for years to come.”</p>
<p>Commenting on Anton Tagliaferro’s win, Zenith general manager and head of research, Bronwen Moncrieff, said:</p>
<p>“Anton has made a huge contribution to the financial services industry over four decades as one of the country’s most highly respected value-style fund managers, including over 25 years heading up the firm he founded, Investors Mutual. It was a very easy decision to bestow him with the Industry Contribution Award, and his legacy will be felt across Australian financial services for years to come.”</p>
<p>&nbsp;</p>
<h3><strong>The full list of winners</strong></h3>
<table border="0" width="662" style="width: 788px; height: 1479px;">
<tbody>
<tr style="height: 43px;">
<td width="331" style="width: 442px; height: 43px; text-align: left;">
<p><strong>Category Name</strong></p>
</td>
<td width="331" style="width: 346px; height: 43px;">
<p><strong>Winner</strong></p>
</td>
</tr>
<tr style="height: 66px;">
<td width="331" style="width: 442px; height: 66px; text-align: left;">
<p>AREIT</p>
</td>
<td width="331" style="width: 346px; height: 66px;">
<p>Cromwell Funds Management</p>
</td>
</tr>
<tr style="height: 70px;">
<td width="331" style="width: 442px; height: 70px; text-align: left;">
<p>Global REIT</p>
</td>
<td width="331" style="width: 346px; height: 70px;">
<p>LaSalle Investment Management (SG Hiscock &amp; Company)</p>
</td>
</tr>
<tr style="height: 63px;">
<td width="331" style="width: 442px; height: 63px; text-align: left;">
<p>Real Assets</p>
</td>
<td width="331" style="width: 346px; height: 63px;">
<p>Australian Unity Healthcare Property</p>
</td>
</tr>
<tr style="height: 67px;">
<td width="331" style="width: 442px; height: 67px; text-align: left;">
<p>Infrastructure</p>
</td>
<td width="331" style="width: 346px; height: 67px;">
<p>Macquarie Asset Management</p>
</td>
</tr>
<tr style="height: 62px;">
<td width="331" style="width: 442px; height: 62px; text-align: left;">
<p>Global &amp; Diversified Fixed Interest</p>
</td>
<td width="331" style="width: 346px; height: 62px;">
<p>Macquarie Asset Management</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 442px; height: 64px; text-align: left;">
<p>Australian Fixed Interest</p>
</td>
<td width="331" style="width: 346px; height: 64px;">
<p>Metrics Credit Partners</p>
</td>
</tr>
<tr style="height: 63px;">
<td width="331" style="width: 442px; height: 63px; text-align: left;">
<p>Alternative Strategies</p>
</td>
<td width="331" style="width: 346px; height: 63px;">
<p>Hamilton Lane</p>
</td>
</tr>
<tr style="height: 63px;">
<td width="331" style="width: 442px; height: 63px; text-align: left;">
<p>Multi Asset - Diversified</p>
</td>
<td width="331" style="width: 346px; height: 63px;">
<p>MLC Asset Management</p>
</td>
</tr>
<tr style="height: 59px;">
<td width="331" style="width: 442px; height: 59px; text-align: left;">
<p>Multi Asset - Real Return</p>
</td>
<td width="331" style="width: 346px; height: 59px;">
<p>Perpetual Asset Management Australia</p>
</td>
</tr>
<tr style="height: 63px;">
<td width="331" style="width: 442px; height: 63px; text-align: left;">
<p>International Equities - Emerging Markets &amp; Regional</p>
</td>
<td width="331" style="width: 346px; height: 63px;">
<p>GQG Partners</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 442px; height: 64px; text-align: left;">
<p>International Equities - Alternative Strategies</p>
</td>
<td width="331" style="width: 346px; height: 64px;">
<p>PM Capital Ltd</p>
</td>
</tr>
<tr style="height: 66px;">
<td width="331" style="width: 442px; height: 66px; text-align: left;">
<p>International Equities - Global</p>
</td>
<td width="331" style="width: 346px; height: 66px;">
<p>Royal London Asset Management</p>
</td>
</tr>
<tr style="height: 62px;">
<td width="331" style="width: 442px; height: 62px; text-align: left;">
<p>International Equities - Global Small Caps</p>
</td>
<td width="331" style="width: 346px; height: 62px;">
<p>Fairlight Asset Management</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 442px; height: 64px; text-align: left;">
<p>Australian Equities - Alternative Strategies</p>
</td>
<td width="331" style="width: 346px; height: 64px;">
<p>Perpetual Asset Management Australia</p>
</td>
</tr>
<tr style="height: 66px;">
<td width="331" style="width: 442px; height: 66px; text-align: left;">
<p>Australian Equities - Small Caps</p>
</td>
<td width="331" style="width: 346px; height: 66px;">
<p>Eiger Capital</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 442px; height: 64px; text-align: left;">
<p>Australian Equities - Large Caps</p>
</td>
<td width="331" style="width: 346px; height: 64px;">
<p>Lazard Asset Management</p>
</td>
</tr>
<tr style="height: 62px;">
<td width="331" style="width: 442px; height: 62px; text-align: left;">
<p>Sustainable and Responsible Investments - Income</p>
</td>
<td width="331" style="width: 346px; height: 62px;">
<p>Pendal</p>
</td>
</tr>
<tr style="height: 64px;">
<td width="331" style="width: 442px; height: 64px; text-align: left;">
<p>Sustainable and Responsible Investments - Growth</p>
</td>
<td width="331" style="width: 346px; height: 64px;">
<p>Stewart Investors</p>
</td>
</tr>
<tr style="height: 58px;">
<td width="331" style="width: 442px; height: 58px; text-align: left;">
<p>Index Fund Manager of the Year</p>
</td>
<td width="331" style="width: 346px; height: 58px;">
<p>Vanguard Investments Australia</p>
</td>
</tr>
<tr style="height: 56px;">
<td width="331" style="width: 442px; height: 56px; text-align: left;">
<p>Rising Star</p>
</td>
<td width="331" style="width: 346px; height: 56px;">
<p>Aikya Investment Management</p>
</td>
</tr>
<tr style="height: 58px;">
<td width="331" style="width: 442px; height: 58px; text-align: left;">
<p>Industry Contribution Award</p>
</td>
<td width="331" style="width: 346px; height: 58px;">
<p>Anton Tagliaferro</p>
</td>
</tr>
<tr style="height: 56px;">
<td width="331" style="width: 442px; height: 56px; text-align: left;">
<p>Distributor of the Year</p>
</td>
<td width="331" style="width: 346px; height: 56px;">
<p>Fidante Partners</p>
</td>
</tr>
<tr style="height: 56px;">
<td width="331" style="width: 442px; height: 56px; text-align: left;">
<p>Fund Manager of the Year</p>
</td>
<td width="331" style="width: 346px; height: 56px;">
<p>Perpetual Asset Management Australia</p>
</td>
</tr>
</tbody>
</table>"> <div class="image"> <img src="/media/na2jmidf/zenith-fund-awards-2023.png?width=400&height=300&v=1da01e271427b70"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith reveals winners of 2023 Fund Awards</div> <div class="meta"> <sub class="darkForeColor"> <strong> 13 OCTOBER 2023 <br> ZENITH INVESTMENT PARTNERS </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-announces-new-ceo/" meta-data="Zenith announces new CEO, Zenith Investment Partners , 21 AUGUST 2023, CEO, business update, , <p>Zenith Investment Partners’ long-standing CEO, David Wright, will step down from the role at the end of the year, transitioning to the new role of Investment Director. The Group’s Chief Operating Officer, Jason Huddy, will move into the CEO role.</p>
<p>Wright said that after much consideration and reflection, the decision to step down from the CEO role was a very logical and pragmatic one.</p>
<p>“Now is the time to ‘pass the baton’ to Jason. Given his time with the business and strong understanding of Zenith’s operations and client base, I’m confident our clients, stakeholders and staff will be in good hands under his leadership. I believe that the business requires an experienced, strategic leader and Jason is that leader.</p>
<p>“I’m genuinely looking forward to remaining with the business and using my extensive fund research and portfolio management experience to support the portfolio solutions, research and sales teams to deliver on their client service responsibilities. My new role allows more time to focus on areas of the business which I’m really passionate about.”</p>
<p>Wright will remain on the local Board and Executive team.</p>
<p>Huddy joined Zenith as COO in 2019 and has over 30 years’ experience in wealth and funds management. Starting with National Mutual (AXA) in Perth, he then spent over 16 years with Macquarie, including 3 years leading its banking and financial services business in the UK, before then moving to NAB Capital Markets, NAB Asset Management and more recently as Executive Director of a Melbourne-based boutique funds manager.</p>
<p>“I’m delighted to be moving into the CEO role and also to continue to work with David and our broader team in delivering our research, portfolio and data services to clients. Over recent years, Zenith’s fund research and managed account capabilities have significantly expanded to include the super research services of Chant West, and the data and technology capabilities of our parent company, FE fundinfo. We continue to be an ambitious company for our clients and staff and I look forward to continuing the client-focused growth that David and the team have achieved to date.”</p>
<p>Wright said he is very proud of the business he has helped build, and while stepping down was not an easy decision, he believes that it is the right one for the business and allows him to spend more time working directly with clients and staff.</p>
<p>“Zenith is a business that I have been intimately involved in building over the past two decades and I remain committed to its success. Our collective achievements over that time have exceeded our expectations and I remain confident that under the changed leadership structure, the business is on a strong path to deliver its high-quality product and service offering to clients.”</p>"> <div class="image"> <img src="/media/jzids24v/ceo-image.png?width=400&height=300&v=1d9d41e18e0bfb0"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith announces new CEO</div> <div class="meta"> <sub class="darkForeColor"> <strong> 21 AUGUST 2023 <br> ZENITH INVESTMENT PARTNERS </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-appoints-new-bdm-for-victoria-and-tasmania/" meta-data="Zenith appoints new BDM for Victoria and Tasmania, , 17 JULY 2023, , , <p>Zenith Investment Partners has appointed Kyla Agustin as its new business development manager (BDM) for Victoria and Tasmania. Ms Agustin will be based in Melbourne and report to national head of sales - advice, funds management and technology partners, Glenn Boyes.</p>
<p>Ms Agustin joins Zenith from Zurich and OnePath Insurance, where she was a BDM from 2019 to 2023. Before that, she was a commercial financial planner with ANZ Financial Planning for more than five years, a senior adviser with Perpetual and a financial adviser with JBWere.</p>
<p>Mr Boyes said Ms Agustin brings strong technical skills and a proven track record of client relationship management to the position.</p>
<p>“Kyla’s appointment fills an important role in the business as Zenith seeks to focus on its core service offering in Victoria and Tasmania, including its growing range of managed account solutions.</p>
<p>“She is an accomplished financial planning and advice professional with over 18 years of experience. Kyla has demonstrated skills in identifying new business opportunities, developing new business strategies, and supporting clients to achieve their business’ objectives.</p>
<p>“Her experience as a BDM and a financial planner will assist her to foster long-term relationships with clients, and further extend the reach of Zenith’s core service offering.”</p>
<p>Ms Agustin commenced with Zenith in June. She is FASEA certified and holds a graduate diploma of financial planning from Kaplan Professional. She also holds a bachelor of commerce and bachelor of arts from Deakin University.</p>"> <div class="image"> <img src="/media/zqndlhn0/microsoftteams-image-9.png?width=400&height=300&v=1d9b8aa68cb10f0"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith appoints new BDM for Victoria and Tasmania</div> <div class="meta"> <sub class="darkForeColor"> <strong> 17 JULY 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/a-soft-landing-scenario-is-increasingly-being-priced-into-markets-for-202324/" meta-data="A soft-landing scenario is increasingly being priced into markets for 2023/24, , 03 JULY 2023, market outlook, , <p>There are some ‘green shoots’ in the US economy with earnings estimates, housing and consumer sentiment improving, but investors should have a diversified portfolio as a reliable, protective barrier against all possible market scenarios for the coming financial year, according to Zenith head of asset allocation, Damien Hennessy.</p>
<p>Mr Hennessy outlines four possible investment market scenarios for 2023/24, ranging from the ‘soft landing’ of lower inflation and no recession, to the worst-case scenario of ‘stagflation risk’, each with differing outcomes for markets (see below).</p>
<p><img src="/media/oxyhsiny/graph-1-soft-landing.png?rmode=max&amp;width=704&amp;height=349" alt="" width="704" height="349"></p>
<p><em>Source:  Zenith Investment Partners</em></p>
<p>He says the markets over the last three months have headed towards a ‘soft landing’ scenario.</p>
<p>“Equity markets have held up reasonably well, while credit spreads have tightened a little bit. Markets are starting to price in a soft landing, with inflation returning to the 2 to 3 per cent range in 2024/25,” Mr Hennessy says.</p>
<p>“Another scenario is that the US Federal Reserve, and indeed our own RBA, fixated on cutting inflation, tighten monetary policy too aggressively, which increases the chance of a recession occurring over the next 12 months.”</p>
<p>“The Fed absolutely doesn’t want to be the central bank that lets inflation get out of control, so they’re prepared to go so far in tightening monetary policy. Ultimately, it’s good for bonds and probably good for cash, but risk assets would struggle.”</p>
<p>Mr Hennessy says the most likely scenario for markets is a period of higher-for-longer cash rates, which means ongoing risks of a mild recession. He calls this the ‘muddle through’ scenario, where inflation falls but remains higher than central bank targets.</p>
<p>“In this scenario, bond yields at least provide yield and recession diversification. Investors need to be selective within equities, underweighting those priced for soft-landing while seeking to overweight those assets and sectors already factoring in pessimistic outcomes,” he says.</p>
<p>“Indeed, there are some analysts predicting the ‘doomsday’ scenario of stagflation, or high inflation and stagnant economic growth.</p>
<p>“In this scenario, the Fed and other central banks feel they can’t do anything about a slowing economy because they’re still fighting the inflationary war. The probability of this happening is low but it’s certainly one that needs consideration.”</p>
<p>Amid such an uncertain market environment, Mr Hennessy says that, perhaps more than ever, the best defence for investors is having a diversified portfolio.</p>
<p>“Bonds have a place in portfolios, perhaps more so than they have for quite a few years now. Yields are in the 3 to 4 per cent range - not exciting, but they provide a bit of protection to investors for those more pessimistic scenarios.</p>
<p>“Cash and other short-dated investments that provide returns in that 4 to 5 per cent range can also provide a bit of flexibility for investors.</p>
<p>“The range of outcomes is so wide and broad, and investors need to respect the uncertainty that currently exists,” Mr Hennessy says.</p>"> <div class="image"> <img src="/media/vudhcucl/istock_23961529_medium.jpg?width=400&height=300&v=1d9adacbdef5860"> </div> <div class="content"> <div class="header secondaryForeColor">A soft-landing scenario is increasingly being priced into markets for 2023/24</div> <div class="meta"> <sub class="darkForeColor"> <strong> 03 JULY 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/market-neutral-strategies-a-powerful-tool-in-volatile-markets/" meta-data="Market neutral strategies a powerful tool in volatile markets, Jock Allen, 22 JUNE 2023, , , <p>In an environment of increased market volatility, investors can look to market neutral strategies to generate attractive returns with reduced risk, according to Zenith Investment Partners Senior Investment Analyst Jock Allen.</p>
<p>“With equities going up, down, and sideways, it can be challenging to determine where to invest your client's money,” Allen says.</p>
<p>“Market neutral strategies are a good alternative in this environment. They can deliver absolute returns that are uncorrelated to the broader equity market returns.</p>
<p>“Unlike traditional equity investments, market neutral managers hold offsetting long and short positions, resulting in a portfolio with limited equity market risk exposure and returns predominantly driven by stock-specific risk.”</p>
<p>Allen says while the perception is that all market neutral managers are the same, and follow a single approach, this is not the case.</p>
<p>“The approaches undertaken by market neutral managers can vary significantly and lead to drastically different exposures along the risk/return spectrum.”</p>
<p>To illustrate this variation in approach among market neutral managers, Zenith undertook research classifying the rated market neutral funds into three categories based on their risk and return characteristics – stable, balanced and return seeking.</p>
<p>“In classifying the products into these categories, we considered the typical leverage employed, realised volatility, and the historical ability to protect capital,” Allen says.</p>
<p>The research found that risk levels progressively increased across the three categories, with each category offering a markedly different risk and return profile (see chart below).</p>
<p><img src="/media/tqqdjm4g/graph-1-mkt-neutral.png?rmode=max&amp;width=764&amp;height=475" alt="" width="764" height="475"></p>
<p><em>Source: Zenith Investment Partners</em></p>
<p>Allen said the research also shows a marked reduction in volatility for market neutral funds.</p>
<p>“As the chart below shows, all three categories demonstrated significant volatility reduction relative to the S&amp;P/ASX 300 Index, with the relative reduction between categories remaining broadly consistent over the assessed period,” he says. &nbsp;</p>
<p><img src="/media/exfjgiyz/graph-2-mkt-neutral.png?rmode=max&amp;width=765&amp;height=477" alt="" width="765" height="477"></p>
<p><em>Source: Zenith Investment Partners</em></p>
<p>“From a drawdown perspective, the market neutral strategies were also successful in protecting investor capital in declining markets,” Allen says.</p>
<p><img src="/media/1fppbd2v/graph-3-mkt-neutral.png?rmode=max&amp;width=763&amp;height=445" alt="" width="763" height="445"></p>
<p><em>Source: Zenith Investment Partners</em></p>
<p>“The stable category protected capital most effectively, while the return-seeking funds experienced larger relative drawdowns,” he says.</p>
<p>“Our analysis is clear. Despite increasing market volatility, Zenith rated market neutral strategies offer investors a compelling avenue for attractive and uncorrelated returns,” Allen concludes. &nbsp;</p>
<p>&nbsp;</p>"> <div class="image"> <img src="/media/35wprtw4/istock-811247860.jpg?width=400&height=300&v=1d9a4f08d8748a0"> </div> <div class="content"> <div class="header secondaryForeColor">Market neutral strategies a powerful tool in volatile markets</div> <div class="meta"> <sub class="darkForeColor"> <strong> 22 JUNE 2023 <br> JOCK ALLEN </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/zenith-and-chant-west-achieve-b-corp-certification/" meta-data="Zenith and Chant West achieve B Corp Certification, , 08 JUNE 2023, B Corp certification; ESG; responsible investing, , <p>Zenith Investment Partners and Chant West have achieved certification as a B Corporation (B Corp) by global non-profit organisation, B Lab.&nbsp; The certification recognises that they have met high standards of social and environmental performance, transparency and accountability.</p>
<p>B Lab aims to transform the global economy to benefit all people, communities, and the planet by creating a network of organisations to lead economic systems change to support their collective vision of an inclusive, equitable, and regenerative economy".</p>
<p>To achieve B Corp certification, B Lab evaluates a company’s practices and outputs across five categories: governance, workers, community, the environment, and customers.</p>
<p>Zenith head of responsible investment and sustainability, Dugald Higgins, said achieving the certification is a testament to the company becoming more socially and environmentally responsible.</p>
<p>“As an advocate for responsible investing in funds management, we realise we also need to assess ourselves as a business and recognise our overall impact on society,” Higgins says.</p>
<p>“We recognise an increasing need to focus on corporate responsibility and sustainability for all our stakeholders. Being a certified B Corp provides us with a transparent framework for continuous improvement.”</p>
<p>Higgins says Zenith and Chant West have joined a global business community working collectively for systemic economic change, and that to continue this work, it must meet rising standards for social and environmental performance.</p>
<p>“As a B Corp, Zenith and Chant West have pledged their commitment to considering the interests of all stakeholders across staff, customers, communities and the environment,” Higgins says.</p>
<p>“We recognise that our certification doesn’t mean we are perfect, but by committing to operate under this framework, we are beginning our journey.”</p>
<p>For more detailed information, visit our B Corp<a href="/b-corp-certification/"> page</a></p>"> <div class="image"> <img src="/media/1olbr5fj/istock-93462543.png?width=400&height=300&v=1d8ccdcc56d3690"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith and Chant West achieve B Corp Certification</div> <div class="meta"> <sub class="darkForeColor"> <strong> 08 JUNE 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/zenith-introduces-new-investment-risk-and-governance-function/" meta-data="Zenith introduces new Investment Risk and Governance function, Zenith Investment Partners , 01 JUNE 2023, Risk, consulting, team update, , <p><span>Given the continued growth and scale of its managed accounts business, Zenith Investment Partners has made the decision to expand its Consulting division to include a dedicated Investment Risk and Governance function. This new function will be responsible for all activities related to managed account risk analysis and operations. The team will be led by James Damicoucas who has been promoted from the position of Consultant to Investment Risk and Governance Manager, supported by Senior Analyst – Investment Risk &amp; Governance, Sara Nguyen.</span> </p>
<p><span>James and his team will be responsible for:</span> </p>
<ul>
<li><span>identifying potential areas to address at a Fund and portfolio level through institutional grade risk reporting</span> </li>
<li><span>operational aspects related to managed accounts including implementation, PDS review, rebate administration, etc. and, </span> </li>
<li><span>satisfying platform regulatory requirements at initial portfolio launch and ongoing requests.</span> </li>
</ul>
<p><span>In creating this new division within the Consulting Team, we have kept our clients at the forefront of our minds, with a focus around how we can best enhance their experience.</span> </p>
<p><span>The business believes the new Investment Risk &amp; Governance team offers clients:</span> </p>
<ul>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" aria-setsize="-1" data-aria-posinset="1" data-aria-level="1">comfort that a dedicated team is periodically reviewing their portfolio risks and funds for early identification of any outliers that may compromise performance if left unattended </li>
<li data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" aria-setsize="-1" data-aria-posinset="1" data-aria-level="1"><span class="NormalTextRun SCXW41273422 BCX0">a </span><span class="NormalTextRun SCXW41273422 BCX0">dedicated consultant with additional capacity</span><span class="NormalTextRun SCXW41273422 BCX0">, which will alleviate their core consultant of  investment risk &amp; governance duties, giving them more time to dedicate to client service and portfolio management</span> </li>
<li>enhanced institutional grade risk reporting and analysis to support the investment decision making process </li>
<li>more efficient management of portfolios given the dedicated focus of the Investment Risk &amp; Governance team and close working relationship with all platforms, and </li>
<li>the confidence that portfolio governance and regulatory requirements are dealt with by a team that’s well experienced in platform due diligence requests. </li>
</ul>"> <div class="image"> <img src="/media/dnplrgz2/zenith-day-3_james_damicoucas_0688.jpg?rxy=0.5291005291005291,0.41181657848324515&width=400&height=300&v=1d994ab82c86570"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith introduces new Investment Risk and Governance function</div> <div class="meta"> <sub class="darkForeColor"> <strong> 01 JUNE 2023 <br> ZENITH INVESTMENT PARTNERS </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/bond-portfolios-may-create-positive-returns-despite-rising-interest-rates/" meta-data="Bond portfolios may create positive returns despite rising interest rates, Andrew Yap, 12 APRIL 2023, Bonds, interest rates, , <p>Despite continued tightening of monetary policy from central banks’ interest rate hikes, bond portfolios could still generate positive investment returns in the years ahead, says Zenith Investment Partners head of multi-asset and fixed income, Andrew Yap.</p>
<p>Mr Yap says that while such a view may seem counter-intuitive, the performance of bond markets is determined by the market’s anticipation of future rate rises rather than the actions of central banks.</p>
<p>That considered, he believes official cash rates across the US, UK, Europe and Australia are likely nearing the market’s forecast of peak cycle.</p>
<p>“Should inflation surprise on the upside, this may extend the current interest rate hiking cycle. That said, the yield on offer across developed market sovereign bonds is sufficiently high to offer a cushion to offset capital losses on any subsequent bond repricing,” Mr Yap says.</p>
<p>“Retaining an overweight to bonds may translate into outsized returns as central banks loosen policy to stimulate growth. Active management may prove to be rewarding in the years ahead, and managers with a proven track record in interest rate management are positioned to outperform.”</p>
<p>Mr Yap says an unexpected rate hike would result in downward pressure on bond prices.</p>
<p>However, given the recalibration in global cash rates and the subsequent rise in bond yields, he adds that cash rates would have to rise significantly higher than anticipated before the capital losses exceed the income generated from bonds (see table below).</p>
<p><img src="/media/3s3oy0xg/bonds_april-23_1.png?rmode=max&amp;width=775&amp;height=203" alt="Bond data comparison March 2023" width="775" height="203"></p>
<p><em>Source: Zenith Investment Partners</em></p>
<p>“Interest rates in Australia would need to rise a further 0.35 per cent above the market’s implied peak cash rate before the 3.30 per cent yield to maturity is fully offset,” Mr Yap says.</p>
<p>“While such an outcome is not outside the realms of possibility, it’s a lower probability event and as such sovereign bond holders have a reasonable level of insulation against unexpected hikes in the official cash rate.”</p>
<p>Mr Yap says the yield curves of 10-year Treasury bonds issued in the US, UK, Europe, and Australia reflect the market’s forecast of where cash rates will be in the future, taking into consideration near-term expectations, inflation and real long-term growth rates (see graph below).</p>
<p><img src="/media/uifb01ay/bonds_april-23_2.png?rmode=max&amp;width=839&amp;height=525" alt="Sovereign yield curves - March 2023" width="839" height="525"></p>
<p><em>Source: Zenith Investment Partners</em></p>
<p>Based on the 10-year Treasury bond yield curves, Mr Yap concludes that the market is pricing in further rate hikes for each of the above geographies to combat inflation.</p>
<p>“In the case of the US, markets are anticipating that the Fed will raise interest rates to 4.98 per cent by May 2023, up from its current level of 4.88 per cent (being the midpoint of its 4.75 to 5.00 percent),” he says.</p>
<p>“Should subsequent increases in this rate remain within this range, it’s unlikely that the 10-year sovereign bond yields will significantly shift.”</p>"> <div class="image"> <img src="/media/o4igymlc/istock-1257471570.jpg?width=400&height=300&v=1d96d26ca02b460"> </div> <div class="content"> <div class="header secondaryForeColor">Bond portfolios may create positive returns despite rising interest rates</div> <div class="meta"> <sub class="darkForeColor"> <strong> 12 APRIL 2023 <br> ANDREW YAP </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/fund-managers-and-advisers-need-to-be-more-specific-with-clients-on-esg/" meta-data="Fund managers and advisers need to be more specific with clients on ESG, , 28 MARCH 2023, , , <p>As ESG standards become stricter, advisers and fund managers will need to be more transparent with their clients when it comes to stating their sustainability credentials, says Zenith Investment Partners Head of Responsible Investment and Sustainability, Dugald Higgins.</p>
<p>According to Higgins, advisers and fund managers will need to be more conscious of how certain funds are labelled and be more specific about ESG with their disclosure statements to clients.</p>
<p>Compared to other parts of the world, Higgins says Australia is less developed when it comes to ESG standards, and this will need to change quickly as clients continue to demand further transparency.</p>
<p>“Australia is one of the worst countries when it comes to the transparency of portfolio holdings. It’s understandable that full holdings disclosure is problematic if you're an active fund manager, but it’s also something more clients are seeking,” Higgins says.</p>
<p>“The global shift on ESG standards is already happening, and Australia cannot afford to be left behind.</p>
<p>“For example, if you are an adviser in Europe, you must ascertain whether your client has sustainability preferences and, if they do, you must match products accordingly.</p>
<p>“If you're a US adviser and you make ESG recommendations, you have to provide your clients with documentation on how you arrived at your recommendation and your methodology.</p>
<p>“While the UK is currently finalising new enhancements, their regulator is highlighting a future preference for advisers to address sustainability in the advice process, and to obtain their clients’ sustainability preferences to ensure product suitability.”</p>
<p>Because Australia is coming into an ESG disclosure regime a bit later than the rest of the world, Higgins says we have the opportunity to better navigate the regulatory space, based around a proposal by Treasury to mandate reporting frameworks built around the Task Force on Climate-related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB). He believes conversations are sufficiently progressed to highlight that it's going to be a case of ‘when’ not ‘if’ this happens.</p>
<p>“While there are some differing industry views on minor details, none of the many submissions I’ve seen are saying we shouldn’t do it. It’s a pretty safe bet to say it’s happening, so you need to plan accordingly.”</p>"> <div class="image"> <img src="/media/lvjfzquc/dugald_higgins.jpg?width=400&height=300&v=1d961984031d070"> </div> <div class="content"> <div class="header secondaryForeColor">Fund managers and advisers need to be more specific with clients on ESG</div> <div class="meta"> <sub class="darkForeColor"> <strong> 28 MARCH 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label></label> </div> </a> <a class="ui card" href="/news/rated-overall-ratings-house-of-the-year-by-financial-advisers/" meta-data="Rated Overall Ratings House of the Year by financial advisers, , 15 MARCH 2023, Research, Ratings, Awards, , <p>In recent research by Financial Newswire, financial advisers have crowned Zenith Investment Partners as the leading research provider in a tied result.</p>
<p>The final results were drawn from Part One and Part Two of ‘Rating the Ratings Houses’ research, crowning Zenith the equal winner of Overall Ratings House of the Year for 2022.</p>
<p>Zenith’s research capability was consistently called out by financial advisers for the quality of fund and fund company research, website information and tools, asset allocation research, the research team, value for money and consulting services. Congratulations to <a rel="noopener" href="https://www.linkedin.com/in/bronwenmoncrieff/" target="_blank" title="Bronwen Moncrieff | LinkedIn">Bronwen Moncrieff</a> and her team on this deserving recognition of their diligence and hard work.</p>
<p>More information on the outcome of the research is available <a href="https://financialnewswire.com.au/funds-management/sqm-zenith-the-advisers-choice/">here</a>.</p>"> <div class="image"> <img src="/media/1166/istock-848352380-web-version.jpg?width=400&height=300&v=1d5b4c3f83b83d0"> </div> <div class="content"> <div class="header secondaryForeColor">Rated Overall Ratings House of the Year by financial advisers</div> <div class="meta"> <sub class="darkForeColor"> <strong> 15 MARCH 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/shorter-term-challenges-remain-but-long-term-return-expectations-close-to-best-in-8-years/" meta-data="Shorter-term challenges remain but long-term return expectations close to best in 8 years, , 01 MARCH 2023, asset allocation, portfolio performance, role of bonds and credit, , <p>Higher yields, lower valuations and partial normalisation of policy settings means investment market return expectations are better than they have been for years, says Zenith head of asset allocation, Damien Hennessy.</p>
<p>“The forward expectations for returns for cash, credit and bonds in particular are all far better than they have been for a long time, as their starting point valuations have improved,” Mr Hennessy says.</p>
<p>“A year ago, our long-term return expectations for bonds were around 1.5-2 per cent and for credit, below 3 per cent. Now we are projecting 4 per cent for bonds and closer to 5.5 per cent for credit. For typically defensive assets, that’s a big uplift in performance.”</p>
<p>The 2022 year was the worst in over a century for a standard 60/40 portfolio – and bonds experienced one of their worst years on record – but there’s reason to be more optimistic, Hennessy says, with the key factor being at what level inflation settles and what becomes the ‘normal’ level of interest rates.</p>
<p>“We do expect higher volatility than what we have experienced over the past decade given higher rates and inflation, less supportive liquidity settings and the likelihood of a more volatile business cycle.</p>
<p>“However, if inflation has peaked, and the negative correlation that markets have historically exhibited with shares and bonds reasserts itself, portfolios should prove much more robust going forward,” Hennessy says.</p>
<p>Zenith’s head of consulting Steven Tang said their return expectations for global equities, including small caps and emerging markets, have also improved while the diversification benefits of unhedged global equities continue to shine through.</p>
<p>“Portfolio return assumptions for a 60/40 traditional balanced portfolio are looking better than they have since 2015. As for what that means for optimal portfolio construction going forward, the higher return expectations will lead to allocating more to bonds and higher-grade credit.</p>
<p>“There will be tactical calls on bonds, but at least real and nominal bond yields are much closer to fair value. Within the higher-risk portfolios where equity weightings are heavier, higher allocations to global small caps and mid-caps may be warranted.</p>
<p>“These are the asset classes or sub sectors that have sold off the most over the past 12 months or so, and once the threat of higher inflation and rates and recession risk recede, upside potential will emerge.</p>
<p>“Australian equities didn't suffer the same downturn as other equity markets in 2022. Although the structure of the domestic market has proven favourable in a rising inflation and interest rate environment, and we maintain a healthy weighting to Australian equities, there is a point at which interest rates start to act as a headwind.”</p>"> <div class="image"> <img src="/media/frxlqyxp/graph-9.jpg?width=400&height=300&v=1d94c6595519560"> </div> <div class="content"> <div class="header secondaryForeColor">Shorter-term challenges remain but long-term return expectations close to best in 8 years</div> <div class="meta"> <sub class="darkForeColor"> <strong> 01 MARCH 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-announces-two-new-appointments-to-sales-team/" meta-data="Zenith announces two new appointments to sales team, , 21 FEBRUARY 2023, , , <p>Glenn Boyes has been promoted to the role of head of sales, representing the combined capabilities of Zenith Investment Partners and FE fundinfo (FE) to advisers, fund managers and technology partners. Based in the Melbourne office, he will report to chief operating officer (COO), Jason Huddy, and will be responsible for an expanding team across the country.</p>
<p>Glenn initially joined the firm in August 2022 as head of sales for FE’s technology and fund manager service offerings. Prior to this, he spent 15 years at IRESS in a range of roles including head of advice - Australia, general manager - wealth and advice solutions, and in business development. He also has experience working as a Certified Financial Planner.</p>
<p>Zenith has also appointed Ben Bell to the role of business development manager – NSW and WA. He will be based in the Sydney office and will report to Glenn Boyes.</p>
<p>Ben has over 10 years’ experience in the advice industry and 20 years in the financial services industry. He joins Zenith from Bellmont Securities where he was sales manager, adviser solutions. Prior to this he spent 11 years at Aberdeen Standard Investments, most recently as associate director - wholesale sales, as well as in business development and regional sales roles. He has also worked at Credit Suisse and Towers Perrin in client service roles.&nbsp;&nbsp;</p>
<p>Zenith COO, Jason Huddy, says the promotion of Glenn and appointment of Ben come at an important time in the development of the business as it continues to expand its product and service offering to clients nationally in 2023.</p>
<p>“Glenn has significant experience in serving wealth management clients and leading product delivery teams across the market and we’re confident that our growing client base will further benefit from this,” Jason says.</p>
<p>“With over 25 years’ experience in the financial services and fintech sectors, Glenn is a leader in the delivery of technology, research and advice solutions. His experience covers a wide range of industry segments including advice, data, research, wealth management, superannuation, portfolio management and compliance.</p>
<p>“Additionally, his previous experience as a Certified Financial Planner (CFP) means he has a solid understanding of the challenges being faced in the market.”</p>
<p>Jason said Ben Bell also brings extensive industry experience to the role.</p>
<p>“Ben will work across all brands in the business to support our client relationships, and his experience working with financial advice groups nationally to help them create cost-effective and transparent managed account portfolio solutions will stand him in good stead in this role.</p>
<p>“His previous business development experience in NSW and WA means he has a solid network of contacts and a strong industry knowledge. This will be of huge benefit as Zenith continues to expand its product offering into the NSW and WA markets.”</p>"> <div class="image"> <img src="/media/h4cmgix5/glenn-boyes.jpg?width=400&height=300&v=1d945fb8dbd1fb0"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith announces two new appointments to sales team</div> <div class="meta"> <sub class="darkForeColor"> <strong> 21 FEBRUARY 2023 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> </div> <div class="ui stackable four cards container" data-id="2022" style="display: none"> <a class="ui card" href="/news/as-us-inflation-peaks-now-is-the-time-to-add-duration-to-portfolios/" meta-data="As US inflation peaks, now is the time to add duration to portfolios, Calvin Richardson, 19 DECEMBER 2022, Inflation, US markets, , <p>Amid optimism that inflation has likely reached its peak in the US, now is a good time to consider adding duration – or interest rate sensitivity – back into investment portfolios, says Zenith Investment Partners Investment Consultant, Calvin Richardson.</p>
<p>Richardson says that after a torrid year of persistently higher inflation prints, it is refreshing to hear some optimism that inflation in the US had likely peaked.</p>
<p>This view was subsequently confirmed, at least in the short term, by the US inflation numbers finally surprising to the downside. This has seen the annual rate of inflation decline to 7.1% in November, which is down sharply from the 9.1% peak achieved in June.</p>
<p>Despite remaining uncomfortably high, markets are intent on buying any suggestion that inflation has peaked and that the path of interest rate hikes will moderate. This was on display when the October print was released and the tech-heavy Nasdaq soared 7.4 per cent in one day.</p>
<p>Richardson adds that among the varied discussions he’s had with portfolio managers around inflation and fixed income markets, the common theme is a move to add duration – or interest rate sensitivity – back into portfolios.</p>
<p>"An improved global economic backdrop over the past 12 months has produced a powerful rise in inflation. Consequently, central banks have responded by aggressively increasing interest rates to choke off demand within the economy, which flows through to higher bond yields,” he says.</p>
<p>Higher bond yields have a contractionary effect due to higher borrowing costs for individuals, governments and businesses which then discourages investment and spending.</p>
<p>Due to the inverse relationship shared between yields and the capital value of bonds, this has prompted bonds to reprice heftily lower.</p>
<p>Richardson says Zenith’s portfolios have been intentionally positioned with lower duration than the benchmark, resulting in a more subdued pullback for its investors’ fixed income allocations.</p>
<p>Following a period of strong outperformance from this stance, we’ve recently moderated this positioning in light of the newly attractive bond yields available.</p>
<p>"The washout in fixed income markets, while painful, has led to the normalisation expected to unfold over a longer period. This has dramatically reinvigorated the defensive qualities associated with fixed income due to the higher starting yields, which makes the asset class significantly more appealing for us,” Richardson says.</p>
<p>Furthermore, should we enter a recession where interest rates are cut, having more interest rate sensitivity means that the value of our bonds will rise and the negative correlation between bonds and shares should reassert itself.</p>
<p>Richardson also notes there is division among fund managers regarding the outlook for private assets, given investors’ erroneous perception that they offer greater safety versus their publicly listed counterparts. He says this misperception stems from the reduced volatility associated with private assets due to their illiquidity.</p>
<p>“The primary difference comes down to how the two are traded, with publicly listed securities offering liquidity on a public exchange, such as the ASX200, whereas private assets are exchanged infrequently between two or more private counterparties,” he explains.</p>
<p>This is particularly topical given the scrutiny around the performance profile of our local industry super funds, with question marks around the lack of write-downs to date on their private assets.</p>
<p>Naturally, there was no consensus on whether the private market values would catch-down to their listed market equivalents, or whether their run of outperformance would be sustained.</p>
<p>However, in-line with our views was the increasing importance of alternatives in portfolio construction to deliver uncorrelated and differentiated return streams to buffer the broader market volatility.</p>"> <div class="image"> <img src="/media/5nvfzusv/istock-1213574691.png?width=400&height=300&v=1d913af2ce0b9f0"> </div> <div class="content"> <div class="header secondaryForeColor">As US inflation peaks, now is the time to add duration to portfolios</div> <div class="meta"> <sub class="darkForeColor"> <strong> 19 DECEMBER 2022 <br> CALVIN RICHARDSON </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-research-leads-the-way-for-its-people-and-clarity-of-research-process/" meta-data="Zenith Research leads the way for its people and clarity of research process, , 09 NOVEMBER 2022, Fund research, , <p>In recent research by Financial Newswire to assess fund managers’ views of Australian research providers, Zenith Investment Partners has come out on top, rated by fund managers as the leading research provider in a tied result.</p>
<p>Consistently called out by managers for the quality and experience of its personnel, the team was also rated very strongly for their understanding of a manager’s business and products.</p>
<p>“The depth of experience and long tenure of members of the research team, particularly across our leadership team, is something that has consistently set us apart from other research providers,” said Bronwen Moncrieff, General Manager and Head of Research.</p>
<p>“The research also showed that the quality and transparency of feedback provided by our team to fund managers is also very high, which is a reflection of not just the team’s deep sector knowledge and expertise, but also our research philosophy which drives our process.”</p>
<p>The research also rated Zenith as the leading research provider in terms of its overall approach to research, including the quality of its methodology and transparency of the rating process.</p>
<p>More information on the outcome of the research is available <a href="https://financialnewswire.com.au/funds-management/people-and-process-deciding-factors-for-fund-managers/">here</a>.</p>"> <div class="image"> <img src="/media/r2zhcpaq/bronwen-moncrief.jpg?width=400&height=300&v=1d866e2bfea3930"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith Research leads the way for its people and clarity of research process</div> <div class="meta"> <sub class="darkForeColor"> <strong> 09 NOVEMBER 2022 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/central-banks-attempt-to-curb-inflation/" meta-data="Central banks attempt to curb inflation, Damien Hennessy, 25 OCTOBER 2022, Inflation, CPI, , <p>As central banks attempt to curb&nbsp;inflation, can markets trust their ability to do so? Head of Asset Allocation, Damien Hennessy, spoke to Ausbiz about&nbsp;how markets have priced in inflation and how to best allocate resources within your portfolios to preserve capital during these turbulent times.</p>
<p><strong>Watch:&nbsp;9</strong>&nbsp;<strong>mins</strong></p>"> <div class="image"> <img src="/media/f53idb5h/istock-1404145526.jpg?rxy=0.15413533834586465,0.7086956521739131&width=400&height=300&v=1d8e88293e23e60"> </div> <div class="content"> <div class="header secondaryForeColor">Central banks attempt to curb inflation</div> <div class="meta"> <sub class="darkForeColor"> <strong> 25 OCTOBER 2022 <br> DAMIEN HENNESSY </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/dynamic-asset-allocation-critical-tool-for-portfolio-construction-in-uncertain-economic-times/" meta-data="Dynamic asset allocation - critical tool for portfolio construction in uncertain economic times, , 18 AUGUST 2022, Dynamic asset allocation, , <p>Dynamic asset allocation can play a role in managing portfolios during periods of volatility in the global macro environment, says Zenith Investment Partners Head of Asset Allocation, Damien Hennessy.</p>
<p>Dynamic Asset Allocation (DAA) considers the potential risk to portfolio positions and how markets might move over a three-month to two-year horizon, compared to strategic asset allocation (SAA) that reflects return and volatility assumptions typically over a 5-to-10-year period.</p>
<p>Hennessy says DAA is increasingly recognised as a valuable portfolio construction option, as it seeks to enhance returns and smooth risk by altering the short-to-medium-term weightings to assets based on factors such as valuations, the business cycle, policy developments, momentum and other major events.</p>
<p>“It’s about tilting a portfolio away from the underlying SAA – typically something fixed for a long period of time – in order to take into account major macroeconomic changes, policy developments and changes to asset valuations,” he says.</p>
<p>“The other important thing to note with DAA is that investors shouldn’t be moving their actual portfolio positions outside of the range they would have expected from their SAA.</p>
<p>“If an investor is in a conservative portfolio, DAA does not involve taking positions that push them up into a balanced or a growth-type portfolio setting.”</p>
<p>Further, Hennessy says we are perhaps in one of the most interesting periods in years for asset allocation.</p>
<p>“In addition to considering shorter-term cyclical and policy developments, a DAA process also needs to recognise that the longer-term drivers of the disinflation and low and declining interest rates we’ve experienced over recent decades may be in the process of changing,” Hennessy says.</p>
<p>“Demographic changes, productivity trends, de-globalisation and geopolitics tend to shape the broad growth and inflation outlook over the long term.</p>
<p>“Central banks are trying to deal with rising inflation through higher interest rates. However, if they push too far too soon, there’s the possibility of recession. A DAA approach needs to be hyper-aware of these risks when it comes to portfolio positioning, aiming to add value by minimising risk while enhancing returns through both directional and relative portfolio positions.”</p>"> <div class="image"> <img src="/media/1333/front_cover_image.jpg?width=400&height=300&v=1d58987b3b261a0"> </div> <div class="content"> <div class="header secondaryForeColor">Dynamic asset allocation - critical tool for portfolio construction in uncertain economic times</div> <div class="meta"> <sub class="darkForeColor"> <strong> 18 AUGUST 2022 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/introducing-our-fund-negative-screening-tool/" meta-data="Introducing our fund negative screening tool, , 16 JUNE 2022, , , <p>A new negative screen filter has been launched within Mosaic, providing additional Responsible Investment (RI) insights on the extent to which managers incorporate negative screens within their investment process.</p>
<p><br>While negative screens are just one of several approaches that can be used when considering RI issues, it nonetheless remains one of the most widely used approaches to implement a responsible investment policy. Screening often serves as a basic tool, to which other approaches such as ESG integration or active ownership can be added.</p>
<p><br>The negative screen filter allows advisers using the Mosaic portal to select products that exclude securities from certain sectors or based on certain practices. Covering all our rated products, the filter provides advisers with additional information on how managers approach stock selection, by recognising how a fund’s mandate restricts exposure to certain activities.</p>
<p><br>This information has been provided by fund managers during the annual review process. We’ve elected to prioritise issues that have historically been prioritised by investors as follows:</p>
<p>&nbsp;</p>
<h3>Negative screen filter categories&nbsp;</h3>
<table border="0" style="height: 52px; width: 100%; border-collapse: collapse; margin-left: auto; margin-right: auto;">
<tbody>
<tr style="height: 18px;">
<td style="width: 20%; height: 18px;">
<p>Adult entertainment</p>
</td>
<td style="width: 20%; height: 18px; background-color: #ccd4ec;">
<p>Animal cruelty</p>
</td>
<td style="width: 20%; height: 18px;">
<p>Environmental degradation</p>
</td>
<td style="width: 20%; height: 18px; background-color: #ccd4ec;">
<p>Tobacco</p>
</td>
<td style="width: 20%; height: 18px;">
<p>Fossil fuels</p>
</td>
</tr>
<tr style="height: 18px;">
<td style="width: 20%; height: 34px; background-color: #ccd4ec;">
<p>Alcohol</p>
</td>
<td style="width: 20%; height: 34px;">
<p>Armaments</p>
</td>
<td style="width: 20%; height: 34px; background-color: #ccd4ec;">
<p>Human rights abuses</p>
</td>
<td style="width: 20%; height: 34px;">
<p>Gaming</p>
</td>
<td style="width: 20%; height: 34px; background-color: #ccd4ec;">
<p>Nuclear power</p>
</td>
</tr>
</tbody>
</table>
<p>&nbsp;</p>
<p>Advisers can elect to search for funds based on whether each screen is applied by the manager as a ‘full’ or ‘partial’ exclusion of securities. Full exclusion is where all securities are removed and the company has no primary business operations to the screened practice. Partial exclusion implies the screening of the securities is subject to a threshold test, for example, a percentage of company revenue.</p>
<h3>Considerations when using the RI Filter</h3>
<p>Given the nuances of individual fund mandates, two critical issues should be considered.</p>
<p>Firstly, we’ve not sought to quantify any specific threshold parameters that apply to ‘partial’ exposures, so attention should be given to the individual fund documentation regarding each manager’s approach to these issues.</p>
<p>Secondly, the extent to which managers consider exposures to screened issues on a direct basis as opposed to with a company’s value chain is highly variable. As such, we stress that users should utilise the screening tool to filter down funds for further investigation, rather than assume that screening actions will fully reflect individual preferences.</p>
<h3>How do I use the screening tool?</h3>
<ol>
<li>Login into the <a rel="noopener" href="https://id.zenithpartners.com.au/login/?ReturnUrl=%2Fconnect%2Fauthorize%2Fcallback%3Fclient_id%3Dapp%26redirect_uri%3Dhttps%253A%252F%252Fapp.zenithpartners.com.au%252Fau%252Fcallback%26response_type%3Dtoken%2520id_token%26scope%3Dopenid%2520profile%2520app_api.access%26state%3D58e70de083654e7895e25d0eec5291a6%26nonce%3Dc3e4c0feb92744cf8b6e4a7e9bfac11f" target="_blank" title="Zenith Mosaic" data-anchor="?ReturnUrl=%2Fconnect%2Fauthorize%2Fcallback%3Fclient_id%3Dapp%26redirect_uri%3Dhttps%253A%252F%252Fapp.zenithpartners.com.au%252Fau%252Fcallback%26response_type%3Dtoken%2520id_token%26scope%3Dopenid%2520profile%2520app_api.access%26state%3D58e70de083654e7895e25d0eec5291a6%26nonce%3Dc3e4c0feb92744cf8b6e4a7e9bfac11f">Zenith Mosaic portal</a></li>
<li>Select ‘Negative Screens’ from the filter list</li>
<li>Select ‘Full’ or ‘Partial’ in the relevant screen</li>
<li>Fund list will update automatically</li>
</ol>
<p><img src="/media/qtwpnyvg/example-filter.png?rmode=max&amp;width=851&amp;height=514" alt="Negative Screen Filter on Zenith Mosaic" width="851" height="514"></p>"> <div class="image"> <img src="/media/ssjd4w01/mining-1.jpg?width=400&height=300&v=1d880ad35b3c120"> </div> <div class="content"> <div class="header secondaryForeColor">Introducing our fund negative screening tool</div> <div class="meta"> <sub class="darkForeColor"> <strong> 16 JUNE 2022 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/chant-west-launches-responsible-investment-classifications/" meta-data="Chant West launches responsible investment classifications, , 28 MARCH 2022, Topic, , <p>Chant West has incorporated <a href="/our-solutions/investment-research/responsible-investment-framework/">responsible investment (RI)</a> classifications into its ratings for super fund investment options, providing investors with detailed RI insights that allow them to make more informed investment decisions.</p>
<p>The RI classifications mirror those of Zenith Investment Partners and comprise traditional, aware, integrated, thematic and impact categories, with each one designating the extent of the fund’s incorporation of responsible investment factors.</p>
<p>Zenith Investment Partners head of responsible investments, Dugald Higgins, says: “While it’s vital for managers and super funds to be able to measure and demonstrate the role of RI in their investment strategies, it’s equally important that investors can accurately identify which strategies meet with their needs and align with their investment beliefs.</p>
<p>“The fund classification framework across super investment options helps investors understand the integration of a super fund’s RI themes into their processes and the associated impacts on the final portfolio outcome.</p>
<p>“The classification framework is underpinned by a set of principles which is applied by our analysts and overseen by an internal responsible investment committee. We also use our role working right across the industry with a wide range of stakeholders to inform this framework and ensure it remains robust and relevant,” Mr Higgins says.</p>
<p>These classifications will be rolled out across investment options progressively and have already been attached to 70 per cent of investment options in the Chant West super fund universe.</p>
<p>The Chant West RI classifications launch follows the recent addition of its detailed super fund research reports being made available to Zenith clients via Mosaic, the group’s flagship research and portfolio insights platform.</p>
<p>Chant West senior investment research manager, Mano&nbsp;Mohankumar says: “Zenith Mosaic now incorporates detailed qualitative research and ratings assessment reports on some of the industry’s major super funds including AustralianSuper, Australian Retirement Trust (QSuper and Sunsuper) and BT, with plans for more funds to be added to the suite of reports over time.</p>
<p>“The super fund investment ratings include an overall rating for the product issuer and separate ratings for each of its investment options.</p>
<p>“The overall investment capability rating refers to the issuer’s ability to construct investment options that represent industry best practice, and have a high likelihood of achieving their stated risk/return objectives and delivering strong peer-relative outcomes.</p>
<p>“An overall investment capability rating is awarded – and this ranges from 5 Apples, our highest rating, to 1 Apple, our lowest rating.</p>
<p>“This report also assigns ratings for individual investment options available to super fund members, which may differ from the overall investment capability rating, as they assess the specific characteristics of each portfolio,” Mr Mohankumar says.</p>"> <div class="image"> <img src="/media/0b2bzekd/globe-apple.jpg?width=400&height=300&v=1d842a0b5bea380"> </div> <div class="content"> <div class="header secondaryForeColor">Chant West launches responsible investment classifications</div> <div class="meta"> <sub class="darkForeColor"> <strong> 28 MARCH 2022 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/detailed-super-fund-investment-research-reports-now-available-in-mosaic/" meta-data="Detailed super fund investment research reports now available in Mosaic, , 02 MARCH 2022, Topic, , <p>To better support your clients wanting retirement planning advice, <a href="/our-solutions/zenith-mosaic/">Zenith Mosaic</a> now incorporates detailed qualitative research and ratings assessment reports on some of the industry’s major super funds. The comprehensive reports are produced by our Group partner and highly respected super fund data and research business, <a href="http://www.chantwest.com.au">Chant West</a>, and include detailed investment information about:</p>
<ul>
<li>
<p>overall ratings of the product issuer and separate ratings on underlying investment options</p>
</li>
<li>
<p>the investment team and their investment philosophy</p>
</li>
<li>
<p>the team’s portfolio management process</p>
</li>
<li>
<p>the team’s approach to responsible investment (RI) and relevant RI classifications which will be progressively rolled out across all Chant West-rated investment options, and</p>
</li>
<li>
<p>detailed portfolio information including asset allocation, underlying investment manager allocations and investment option performance.</p>
</li>
</ul>
<p>While the reports available cover leading super funds such as AustralianSuper, QSuper, Sunsuper and BT, more funds will be added to the suite of Mosaic reports over time.</p>
<p><a href="https://app.zenithpartners.com.au">Log in</a> to Mosaic today to access the new super fund reports. If you don't have access to Mosaic and would like to trial&nbsp; our flagship research and portfolio insights platform, please contact us on <a href="mailto:info@zenithpartners.com.au">info@zenithpartners.com.au</a>&nbsp;</p>"> <div class="image"> <img src="/media/1989/chant_west_master_colour_rgb_large.png?rxy=0.49373433583959897,0.3263956285796301&width=400&height=300&v=1d82e06a03774a0"> </div> <div class="content"> <div class="header secondaryForeColor">Detailed super fund investment research reports now available in Mosaic</div> <div class="meta"> <sub class="darkForeColor"> <strong> 02 MARCH 2022 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> <a class="ui card" href="/news/zenith-creates-new-business-development-manager-role/" meta-data="Zenith creates new business development manager role, , 02 FEBRUARY 2022, Topic, , <p>Zenith Investment Partners has appointed Gordon Roebuck to the newly created role of business development manager for Queensland. Mr Roebuck will be based in Brisbane and report to national head of sales, John Nicoll.</p>
<p>Mr Roebuck has 15 years financial services experience and was most recently a business development manager for AMP/North, where he was responsible for designing and implementing the wealth management sales strategy in the Queensland market.</p>
<p>He holds a Diploma of Financial Services from Kaplan Professional.</p>
<p>Commenting on the appointment, Mr Nicoll said Mr Roebuck’s long history and strong experience in financial services will support the continuing growth in demand for Zenith’s services and enhance the support of our existing Queensland clients.</p>
<p>“Gordon will be responsible for managing the growth in our managed accounts, investment research and asset allocation service offering in Queensland, as well as assisting in developing and implementing our national and state strategies.</p>
<p>“His qualifications and experience will be crucial in increasing awareness of Zenith’s product offering, particularly as we move to the next exciting phase of our journey with FE fundinfo. Our combined offering will provide a compelling,&nbsp;premium service&nbsp;for advisers, fund managers,&nbsp;super funds&nbsp;and institutional clients.</p>
<p>“The new appointment comes at a time of substantial business growth for Zenith and with increased demand from Queensland-based clients, the time was right for a dedicated BDM in the state.”</p>
<p>Mr Roebuck commenced with Zenith on Monday 31 January.</p>"> <div class="image"> <img src="/media/lk2dognn/g-roebuck-v1.jpg?width=400&height=300&v=1d81851253e09f0"> </div> <div class="content"> <div class="header secondaryForeColor">Zenith creates new business development manager role</div> <div class="meta"> <sub class="darkForeColor"> <strong> 02 FEBRUARY 2022 <br> </strong> </sub> </div> </div> <div class="extra content"> <label>Read</label> </div> </a> </div> </div> <footer id="footer" class="ui footer" style="background-color: #000000;"> <div class="ui container"> <div class="ui stackable grid"> <div class="sixteen wide row"> <div class="five wide column"> <a href="/"> <img id="footer_logo" class="footer_logo" src="/media/1003/inverse_logo.svg"> </a> </div> <div class="eleven wide column"> <div class="ui stackable grid non-tablet"> <div class="four wide column"> <h3 class="ui primaryForeColor nav">About Us</h3> <div class="ui inverted link list"> <a class="ui label light item" 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class="lightForeColor"> | </span> <a class="primaryForeColor" href="/important-information/conflicts-of-interest/">Conflicts of Interest</a> <span class="lightForeColor"> | </span> <a class="primaryForeColor" href="/important-information/terms-and-conditions/">Terms and Conditions</a> <span class="lightForeColor"> | </span> <a class="primaryForeColor" href="/important-information/financial-services-guide/">Financial Services Guide</a> <span class="lightForeColor"> | </span> <a class="primaryForeColor" href="/important-information/disclaimers/">Disclaimers</a> <span class="lightForeColor"> | </span> <a class="primaryForeColor" href="/important-information/zenith-whistleblower-policy/">Whistleblower Policy</a> </div> <div class="sixteen wide row"> <span class="ui label light footer-message">Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) is the provider of General Advice (s766B Corporations Act 2001). 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