In theory, passive investing is simple: track the market, minimise costs, and remove human judgement. But in practice, things aren’t so clear-cut. From index selection and portfolio construction to fee differences and persistent return gaps, many so-called passive funds involve more active decisions than most investors realise. This post explores the blurred line between active and passive — and why understanding that distinction could make a big difference to your long-term returns.

Many investors assume that holding lots of different funds automatically means better diversification — but that’s not always true. This post explores why the number of funds you hold matters less than what’s actually inside them, when a single fund can be enough, and how true diversification is more about uncorrelated exposures than fund count.

Convertible bonds are a unique hybrid investment that combine the steady income of traditional debt with the potential upside of equity. In this post, we break down how these financial instruments work, why companies issue them, and what makes them appealing to investors. Whether you're a seasoned investor or just getting started, understanding convertible bonds can open the door to smarter portfolio diversification and strategic risk management.

When evaluating the long-term role of stocks in a portfolio, it's essential to consider not just their returns, but what those returns mean in real terms. Since the early 19th century, stocks have consistently outpaced inflation and delivered substantial gains in purchasing power. In contrast, cash and short-term bills have struggled to keep up with rising prices, often resulting in a slow erosion of real wealth. This highlights a key advantage of equities: their unmatched ability to grow capital over time. For investors with long horizons, including stocks in a portfolio isn’t just sensible—it’s necessary for building and preserving real wealth.