Japan

Japanese equities have been sensitive to weaker global industrial demand over the past 12 months, but we expect the earnings impact from the ongoing slowdown to bottom out by the end of this fiscal year.

2019 has been a stellar year for global bond markets, as weak global economic growth and low inflation have combined with ever more accommodative central banks to push global bond yields significantly lower.

Still a good case for long-duration assets

According to latest Global Dividend Index report

Reviewing July-September's trading performances

The US dollar has performed well, up more than 7% since the end of 2017, and continues to enjoy a number of supports.

Japan favourable to China

Global manufacturing continues to contract as trade falters. The Trump administration’s attempts to overhaul trade agreements are cooling sentiment and raising global uncertainty.

Cautious approach due to recession and political risks

Two Luxembourg-domiciled UCITS funds