EMEA
Insights
Investment Insights by our experts and thought leaders
Global Equity Quarterly (Q2 2024)
by — 27 September, 2024
Perhaps there may be disappointment at the lack of money-spinning applications pertaining to AI which may cause investor sentiment to cool. Nevertheless, the improvements in earnings and cash flow appear sustainable so far and are certainly much more attractive than those being produced by many other parts of the economy.
Balancing Act-Monthly Insights: Global Multi-Asset (September 2024)
by — 27 September, 2024
For August we maintained our overweight growth position and a neutral position on defensives. Several factors continue to support our optimism towards growth assets, including the first rate cut from the Fed, earnings surprises remaining above their historic average, US economic growth beating expectations, and large fiscal spending globally.
What the Fed’s rate cut tells us about current financial conditions
by , — 26 September, 2024
The Federal Reserve’s 50 bps rate cut demonstrated the power of financial markets at present. As the markets had already priced in a significant probability of a 50 bps reduction, the Fed could have viewed such conditions as a good time to “buy insurance” and implement a half a percentage point cut while the markets were likely to absorb it well.
Unlocking value in Japan’s cash-rich small and mid-cap firms
by , — 25 September, 2024
We believe Japan’s programme of ongoing reforms will further benefit “cash-rich” firms, many of which are small and mid-cap companies.
Less may be more in Japan’s LDP leadership contest
by , — 25 September, 2024
There is one major thing to keep in mind going into Japan’s upcoming leadership contest for the ruling Liberal Democratic Party (LDP)—the country’s looming general election. The ruling party’s chief concern is to select a candidate who can prevail at this election. This makes the candidacy of an incipient LDP leader more of a marathon than a sprint.
Harnessing Change-Monthly Insights: Asian Equity (August 2024)
by — 18 September, 2024
We believe that the biggest fundamental change for Asian markets in the medium term is a shift in the interest rates regime, notably that of the US.
From taboo to trend: the rise of shareholder activism in Japan
by , — 18 September, 2024
Once considered taboo in Japan, shareholder activism has been evolving. Japanese equity market culture has been changing dramatically, enabling shareholders to be more vocal and sometimes even hostile towards the companies they invest in, all in the name of “shareholder engagement”.
On the Ground in Asia-Monthly Insights: Asian Fixed Income (August 2024)
by — 17 September, 2024
In a positive bond market environment driven by global monetary easing expectations, we favour government bonds from India, Indonesia and the Philippines, where higher yields remain attractive to investors.
Navigating Japan Equities: Monthly Insights From Tokyo (September 2024)
by , — 06 September, 2024
This month we assess why the market is unfazed by Japan’s upcoming leadership change; we also explain how a bid for a prominent Japanese convenience store operator has highlighted how affordable domestic firms now look in the eyes of their foreign counterparts.
New Zealand Fixed Income Monthly (August 2024)
by , — 04 September, 2024
The Reserve Bank of New Zealand’s rate cut in August appears to constitute a slight easing of the brakes rather than a large change. With the Official Cash Rate at 5.25%, conditions are still restrictive. The first signs of recovery are likely to be seen in improvements in business and consumer confidence, but it will take some time for the impact to filter through to borrowers.
