Morningstar's Kenneth Lamont: Forget AI - battery technology is the theme to watch

'One in every three new cars will be electric by 2030'

I am often asked what is going to be the next ‘hot’ investment theme – but that is the wrong question.

Thematic investments are, by nature, trend driven, designed to capture long-term structural shifts. Yet timing these investments is difficult. Too often, investors pile in at the market peak, after asset managers have rushed to launch new funds, only to face steep losses when the markets correct. By the time a theme gains real momentum and becomes investable, the best opportunities may have already passed. Funds ditch Tesla amid increasing concerns about Musk's politicisation Instead of asking "what's next?", investors should ask "which enduring theme is currently overlooked?". ...