Managing Director and Portfolio manager, William Lock, Head of Morgan Stanley Investment Management’s International Equity Team, seeks out the world’s safest and most sustainable compounders.
It has become fashionable to access global equity markets broadly, passively, synthetically, particularly while markets have continued their upward trajectory. Late cycle investors considering a potentially bumpier ride for markets ahead, and a more complicated corporate and geo- political landscape, may wish to revisit the attractions of truly active invest- ing. Benchmarks, in our view, are inherently risky; simply seeking to match index performance creates a false complacency. Active investing, particularly in the hands of disciplined and experienced managers, offers the potential for meaningful long-term outperformance.
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