fund manager views
Why ultra low government bond yields should 'give pause for thought'
Investors have piled into bonds such that more than $15trn worth are now negative yielding if held to maturity – a new record.
Global equity market volatility will be 'collateral damage' of Trump's re-election campaign
Global equity markets' abrupt sell-off, a fortnight ago now, emphasised equity markets' fragility in the latter stages of a mature economic cycle.
Bond investing: Picking up pennies in front of a steamroller?
No asset has divided opinion in the investor community over the past seven years like government bonds.
Japan continues to be the relative value trade in equities
In an environment where no region presents an obvious opportunity from a valuation perspective in 2019, Japan offers investors the best chance to at least get access to a major market at something of a discount.
Are UK equities 'too difficult' for asset allocators to invest in now?
The long-term attraction of the UK smaller companies market is beyond doubt.
Are central banks at a crossroads or a dead-end?
In the developed world, inflation expectation is noise
Is now the right time to invest in equities?
Given the constant focus on what might cause equities to fall and whether now is the right time to invest, it is helpful to remember equities as an asset class have historically been more likely to deliver positive returns in any given 12-month period...
Deteriorating fundamentals are weighing on EMs
We are seeing a new bout of deterioration in fundamentals, with earnings revisions worsening and PMIs back on a declining path across emerging markets (EM).
London-based student accommodation remains attractive
The UK remains a global leader in the provision of higher education, with some of the highest ranking universities in the world.
The trends set to drive EMD returns higher
Q2 2019 saw strong performances recorded on the main indices tracking emerging market debt (EMD), with nearly all of the risk factors across the EMD sovereign local currency, sovereign hard currency and corporate hard currency segments contributing positively...
Investing in Europe in the face of a 'looming Brexit'
Europe has been held down by lack of improvement in US-China trade tensions, despite continued expectations for approaching rate cuts from both the European Central Bank and the Federal Reserve.
Is history repeating itself in UK equities?
Never catch a falling knife. Helpful health and safety advice but, in an equity market context, does the idea of not buying shares in companies that have seen a material price decline really help one make money over the long term?
How to invest in a market 'driven by expectation'
Part of the June equity market rally was driven by growing investor expectation of a July rate cut in the US, which we believe is overdone.
Why writing off Japanese equities is 'unwise'
Picture the scene. Concerned about the strength of the US dollar, President Donald Trump meets with world leaders to seal a deal to further US interests.
How much further can the US bull market run?
A bull market in US equities that has run for more than a decade, and generally low volatility over the years, may give investors the impression the ride will never end.
UK mid caps attractive relative to FTSE 100 stocks
There can be no doubt the protracted Brexit debacle in the UK is casting a long shadow over its investment markets.
Bonds can still provide protection for investors
Bond bears thought their time had come in 2018.
Navigating the Fed's upcoming 'insurance' rate cuts
In May, risks of a trade shock sharply rose following US President Donald Trump's increasingly aggressive rhetoric towards China.
Why investors need a 'value over growth' approach to Europe
Europe's run of poor manufacturing and trade data continued in June.
The Chinese innovators set to drive emerging market growth
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.
Why SMIDs valuations stand out in a bifurcating US market
There are several signs the US equity market is bifurcating, with pockets of overvaluation and undervaluation becoming extreme.
Spotting value traps in a growth market
The stockmarket has been challenging for value investors over the last few years and this May was particularly difficult.
Trade war: What will bring an end to retaliatory tariffs?
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.
Reasons to be positive on European equities
Region's equities are providing route to emerging market growth
