EMEA
Insights
Investment Insights by our experts and thought leaders
Corporate Japan looks healthier now than it has ever been
by , — 09 October, 2024
Japan’s deflationary era was more than a lengthy period of declining prices. It also brought about profound yet rational changes in corporate behaviour. That ingrained desire from companies to hold onto cash and rein in spending may take time to fully dissipate, but there is already a notable shift underway.
Navigating Japan Equities: Monthly Insights From Tokyo (October 2024)
by , — 08 October, 2024
This month we assess views in the market that the BOJ may have taken a dovish turn at its September policy meeting; we also point to further signs of a steady rise in wages and how that paves the way for a recovery in consumption and, ultimately, higher stocks.
New Zealand Equity Monthly (September 2024)
by , — 07 October, 2024
Nikko AM NZ released its first annual “climate statement” under New Zealand’s new climate-related disclosures regime in July. The framework requires approximately 200 organisations, including large publicly listed companies, to release reports on how their activities may impact the climate and the effect of the climate on their businesses.
Are China’s stimulus measures enough?
by — 04 October, 2024
The raft of stimuli recently unveiled in China is the most coordinated policy since the start of the country’s economic downturn. This, along with the start of the Fed’s monetary policy easing, represents key fundamental changes. However, as the old saying goes, the devil is in the details.
Global Investment Committee’s outlook: low risk no longer
by , — 04 October, 2024
We perceive heightened risk to both growth (two-way) and inflation (upside) compared to our previous guidance. Nevertheless, our central near-term scenario remains for slowing but positive growth in the US, alongside slowly moderating prices.
Staying on the road less travelled
by — 01 October, 2024
As global equity investors, we are often asked how we have successfully navigated an evolving market landscape since the strategy’s inception in 2014. The truth can ultimately be attributed to three key factors: humility, collaboration with people who share the same core team values and a robust investment philosophy.
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.
