In recent years, long-held ideas on portfolio construction have been called into question. Investors can now choose from a range of “smart beta” strategies, offering exposure to market risk premia in a systematic, transparent fashion. Where does the dividing line between active and passive fund management now lie? What is the likely future role of active managers?

So what is “smart beta”? A mere revolt against traditional indices? No, Sir, it's a true revolution – the factor investing revolution. The questioning of allegiance to traditional indices, which until now were used broadly despite some serious drawbacks, has only just begun, but the stakes are already high and this could bring structural and long-lasting changes to the way investors make strategic allocations.

The Brazilian economy is in dire straits. However, if the government moves forward with fiscal austerity, the economic and political crisis can be overcome, thinks portfolio manager Daniela da Costa-Bulthuis. Crumbling political support could certainly still throw a spanner in the works though.

In fixed income, Malik Haddouk, Head of Balanced Management at CPR Asset Management and his team are focusing in the short term on exposure to long maturities (> 10 years), which are likely to get a boost from quantitative easing and weak inflation...

According to Sebastian Thomas, Head of US technology research and portfolio manager at Allianz Global Investors, artificial intelligence, robotics, self-driving cars, biotechnology, targeted medicine and many other innovations will ultimately impact all facets of our society. He believes successful investing in technology markets requires not only a deep understanding of the technology itself, but a careful consideration of these social factors as well.