EMEA
Insights
Investment Insights by our experts and thought leaders
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.
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.
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.
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.
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.
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.
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”.
