There are two reasons why the world economy slowed down this year. The first is the slowdown in the eurozone: global trade with the eurozone has fallen off very sharply as the region has cut back on activity.
The second reason is that capital spending has been very weak. This came as a bit more of a surprise because companies have a lot of cash on balance sheets and are very profitable – so normally we would...
Highest net short since taking over fund
China and Brexit spook investors
After over 30 years
Previously at Henderson and New Star
In our view, well-capitalised companies that can grow profits, cash flows and dividends offer the best potential for equity investors.