All Commentary articles – Page 14
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White papersEuropean real estate market commentary: April 2025
Economic conditions have declined amid broader market uncertainty related to trade negotiations, though it is too early to gauge the impact on private real estate markets. Despite this, extensive repricing already seen still points to live opportunities across markets and sectors, while tight supply conditions continue to support occupier markets.
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White papersWhy Australian office: Perception, reality and the great opportunity
Over the past four years, the performance of the office market was dominated by the uncertainty cast by the pandemic-induced lockdowns and the largest interest rate cycle in decades. The consequential unknowns over workplace strategies, the economy, and adjustment to higher rates contributed to the largest valuation repricing since the GFC.
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White papersTariffs: What comes next for stocks, bonds and the dollar?
Given uncertainty around tariff policy, markets will likely continue to gyrate based on the developments of negotiations, along with the evolution of US monetary and fiscal policy.
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White papersSurging Tariffs Are Flipping the Chip Script
The global semiconductor supply chain is caught in a high-stakes game of musical chairs, with potentially surging tariffs setting the tempo and companies (and nations) scrambling to secure their spots.
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White papers2025 Half Year Results
We use our expertise to access, deploy, manage and invest equity to create value and generate superior returns for our investor customers
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VideoInvestment outlook – Waiting for the moment
With the waters in financial markets stirred and the amplitude of the ripples still unclear, a cautious attitude to asset allocation looks to be smart. Questions abound: will US import tariffs sap business models and profit margins? What do they mean for inflation and growth? Are the effects the same in the US and Europe?
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White papersGlobalisation isn’t dead. It’s changing.
The latest round of tariffs launched by the US government in early April prompted a wave of criticism from world leaders, including some who say globalisation is now dead. As a global investor for over four decades, I respectfully disagree. Globalisation isn’t dead. It is, however, changing in a significant way.
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WebinarWebinar: Tariff impacts on global markets
Tariffs levied by the Trump administration have sent global markets reeling. Watch portfolio managers Jody Jonsson and Chitrang Purani assess the implications for stocks and bonds.
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White papersDeglobalization. What’s Next?
We believe the Post-World War II, U.S.-dominated world order of globalization is quickly coming to an end. Between the possibilities of diversification, division, and disengagement that we discussed in our piece on globalization several years ago, the Trump Administration appears to be pursuing a disengagement strategy. Everyone— domestic players in the U.S. included—is now working to accommodate a less globally engaged U.S.
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White papersWorld markets review — First quarter 2025
Returns for US equities diverged from regional markets as investors weighed the implications of a potential trade war, waning consumer confidence and high valuations in the technology sector. After two years in a row of 20%-plus gains, US stocks entered correction territory, falling roughly 10% in mid-March before recovering some of the losses. European stocks rallied as investors rotated into value-oriented areas of the market.
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White papersFive charts that put market volatility in perspective
President Trump’s tariffs have put market volatility back in the spotlight.
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White papersQuarterly Equities and Multi Asset Outlook – Q2 2025
Investors started this year thinking that corporates and governments were better prepared for a Trump 2.0 trade war. That proved not to be the case, so how should they be positioning amid the turmoil? Find out more in the latest Quarterly Equities and Multi Asset Outlook: ‘Dispersing the herd’.
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Research ReportReal Estate House Views H1 2025
Explore our collection of in-depth outlooks on real estate investing globally.
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White papersDiversification in times of uncertain markets
Over the past week, markets have experienced extreme uncertainty caused by US policy gyrations on tariffs. This uncertainty has started to weigh on US assets, including the dollar and US Treasuries. Despite the 90-day pause announced on 9 April, the US average tariff rate remains at a 100-year high, with rising US tariffs on China triggering retaliation from the latter.
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White papersTaking stock amid tariffs
Liberation Day in the U.S. dished a hefty dose of tariff shock and awe, sending financial markets into a frenzy. President Trump announced a mix of broad and reciprocal tariffs far exceeding market expectations, prompting a rethink of the global economic outlook. Ongoing uncertainty on retaliatory and negotiating measures from the U.S.’s top trading partners creates a challenging backdrop. We take stock of the global outlook and how central banks could respond.
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White papersThe world turned upside down - Global Market Perspectives, 2Q 2025
Our quarterly investment outlook highlights the themes and investment implications for the period ahead.
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White papersEuropean Hotel Sector: Choosing the optimal operating structure and partner
Choosing the right operating structure and partner is crucial for managing risk and maximizing returns in European hotel investments. This article explores key considerations to optimize value-added opportunities in the hospitality sector.
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White papersQuick take on Trump’s tariff pause
President Trump has announced a 90-day truce with most of the international community, reducing tariffs to the baseline rate of 10% for the European Union (EU), Asia (excluding China) and South Africa, among other countries. This is a positive development. Most other major economies, including Latin America, Canada, the UK, and Australia, were already subject to baseline rate tariffs or lower.
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White papersEquity Market Outlook 2Q 2025
While surging tariffs and a hard sell-off have sown uncertainty, we expect negotiations to bring some relief on initial tariff proposals, and that sharply slower growth seems more likely than a U.S. recession. We also believe stimulus in Europe and China may rejuvenate global industrial activity (albeit at a slower pace), and recommend styles, sectors and regions that are most geared to it.
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White papersPrivate Markets Investment Outlook Q2 2025: Opportunities amid uncertainty
Despite heightened risks from policy changes and economic uncertainties, private markets continue to present attractive opportunities. Investors should be discerning in selecting strategies with attractive risk/return profiles, and prioritise diversification.
