China

Now a well-chronicled global incident, on 9 March 2009 the S&P 500 index suffered the worst decline in value since the Great Depression.

Renminbi devalued

Sustainability, geopolitics and the 'Woodford liquidity crisis'

Headwinds in the most unexpected places

Disruptors move in on asset management

Report from Netwealth

In May, risks of a trade shock sharply rose following US President Donald Trump's increasingly aggressive rhetoric towards China.

Emerging markets have generally performed well over the last three years; the MSCI Emerging Markets index has returned over 30% during the period and we believe the asset class still has significant potential to grow.

Trade tensions with US dragging growth

In the first half of 2019, the uncertainty surrounding Federal Reserve policy and US-China trade negotiations affected the outlook for all asset classes including global small-cap stocks.