Robin Powell interviews Lars Kroijer / Investment author
Hello there.
It has been said that diversification is the investing equivalent of a free lunch. The evidence shows that it’s the best way to manage risk and that, over the long-term, it also leads to higher returns. The good news is that index funds and other passively managed investments have diversification built in. Here’s investment author Lars Kroijer.
I believe in index funds because you can very cheaply get exposure to a very broad array of industries, sectors, geographies and jurisdictions without really doing much yourself. It is better than buying A: individual stocks or even picking individual industries or countries.
We’re always hearing of investors who managed to buy just the right thing at the right time. But they’re actually a tiny minority. Sure, you might get lucky.. but why take the risk of being unlucky?
Take the example 20 years ago that you had invested in just one market. If you’d picked the right market that would’ve been great. If you had picked the market that was en vogue at the time namely Japan, you would’ve lost 75 or 80% of your money. If you had picked the whole world, which is what I advocate doing, you would had diversified the risk away of being unlucky and picking just one country, in this case Japan.
Of course, this is the age of globalisation. Markets in different parts of the world are more closely correlated than they were before. So, have the benefits of diversification lessened?
I’ll give the short answer and the short answer is yes. And why is that? Because companies are now more global, look at Google they operate in every country in the world I’m sure as does McDonalds and Phillips and all the other big companies. The short answer is the benefits of diversification is lessened. The cantor to that is though that 50 years ago, even when I was at University…not quite, in the early to mid 90’s you couldn’t actually buy it. So you could’t actually easily get exposure to most of these countries. If you say: “Let’s buy some shares in India”, well 20 years ago you couldn’t actually do it. You could by the US, some countries in Western Europe, perhaps Japan. All these other diversifying markets were simply not available to you. Now they are. Just like back then, index investments like Vanguard were just really beginning to increase in size, but even back then they only had the US markets. Now they’re global. Use those benefits you can gain from that.
That’s all for now. Thanks for watching.
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Amundi MSCI World Minimum Volatility Screened Factor UCITSETFUCITSETFAcc (WMMV ETF) med ISIN IE0001DKJVC2, försöker spåra MSCI World Minimum Volatility Select ESG Low Carbon Target-index. MSCI World Minimum Volatility ESG Reduced Carbon Target-index spårar aktier från utvecklade länder över hela världen som är valda enligt låg volatilitet och ESG-kriterier (miljö, social och företagsstyrning). Indexet har som mål att minska utsläppen av växthusgaser och ett förbättrat ESG-poäng jämfört med jämförelseindex. Jämförelseindex är MSCI World-index.
Den börshandlade fondens TER (total cost ratio) uppgår till 0,25 % p.a. Amundi MSCI World Minimum Volatility Screened Factor UCITSETFUCITSETFAcc är den enda ETF som följer MSCI World Minimum Volatility Select ESG Low Carbon Target-index. ETFen replikerar det underliggande indexets prestanda genom fullständig replikering (köper alla indexbeståndsdelar). Utdelningarna i ETF:n ackumuleras och återinvesteras.
Denna ETF lanserades den 30 oktober 2024 och har sin hemvist i Irland.
Investeringsmål
Amundi MSCI World Minimum Volatility Screened Factor UCITSETFAcc försöker replikera, så nära som möjligt, oavsett om trenden är stigande eller fallande, resultatet för MSCI World Minimum Volatility Select ESG Low Carbon Target Index (”Indexet”). Delfondens mål är att uppnå en tracking error-nivå för delfonden och dess index som normalt inte kommer att överstiga 1 %.
Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRO, Nordnet, Aktieinvest och Avanza.
· UBS Asset Management lanserar EUR och USD Treasury Yield Plus UCITS ETFer
· ETFerna syftar till att öka avkastningen samtidigt som riskegenskaperna hos deras referensindex bibehålls
· En egenutvecklad regelbaserad modell används för att bredda investeringsuniversumet för att förbättra tillgången till en större uppsättning möjligheter
UBS Asset Management (UBS AM) tillkännager idag lanseringen av två nya ETF:er som syftar till att leverera förbättrad avkastning, samtidigt som riskprofilen för deras underliggande statsobligationsindex bevaras. UBS EUR Treasury Yield Plus UCITSETF och UBS USD Treasury Yield Plus UCITSETF syftar till att överträffa sina respektive Bloomberg Treasury-index genom att rikta in sig på högre optionsjusterad spread (OAS), samtidigt som de bibehåller en strikt anpassning till duration, kreditkvalitet och landsexponering1.
Portföljkonstruktion
· Universumsdefinition: Varje ETF börjar med sitt respektive Bloomberg Treasury Index (EUR eller USD) och utökar uppsättningen möjligheter till att inkludera högkvalitativa statsobligationer, överstatliga obligationer och agentobligationer (SSA), vilka kan erbjuda en högre avkastning än statsobligationer. · Optimering: SSA-obligationerna väljs ut med hjälp av en egenutvecklad regelbaserad modell som maximerar OAS samtidigt som strikta begränsningar för rating, land, sektor, duration och kurvrisk följs.
· Dynamisk allokering: Portföljförvaltaren kan använda sitt eget omdöme för att ytterligare förbättra portföljens avkastning och/eller riskprofil.
André Mueller, chef för kundtäckning, UBS AM, sa: ”De snabbt ökande tillgångarna i förbättrade ränte-ETF:er signalerar en växande investerarefterfrågan på fonder som går utöver traditionella passiva riktmärken. UBS AM har långvarig expertis inom regelbaserade strategier, så jag är glad att vi för första gången kan erbjuda denna möjlighet till ett bredare spektrum av kunder genom det bekväma, transparenta och effektiva ETF-omslaget.”
Fonden är registrerad för försäljning i Österrike, Danmark, Finland, Frankrike, Tyskland, Irland, Italien, Liechtenstein, Luxemburg, Nederländerna, Norge, Spanien, Sverige, Schweiz och Storbritannien.