Two cybersecurity reports have examined how well small and medium-sized businesses are prepared for cyberthreats, warning unprepared firms could fail to recover from an attack and should avoid relying on younger staff for expertise.

Cash levels by fund managers have continued to fall, reaching 5.3% in January, while allocations to US equities have “collapsed” to an 18-year low.

The rising oil price is unlikely to change Australian Ethical’s view of fossil fuels but the company is not shunning all types of energy exposure.

The wealth management firm has appointed two senior female advisers to join its 94-person investment advisory team in Australia.

Vanguard has “significantly increased” its expected returns for bond ETFs in 2023 thanks to higher interest rates globally as the asset class sees increased flows.

“Caution remains the watchword” for investors in a rapidly-evolving market environment, according to senior investment managers.

The worst period of relative underperformance for small caps sets the scene for a reversal in 2023, writes Naheed Rahman.