Equities – Page 40
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White papersEquity risk overlays: Departing from tradition, embracing innovation
The three major market shocks of the last 20 years – the late nineties’ tech bubble, the Global Financial Crisis (GFC) and the coronavirus pandemic – have each influenced equity markets differently and required different risk management approaches.
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White papersDeveloping capital markets make China an exciting option
With Chinese New Year celebrations getting underway and 2021 being the Year of the Ox – a symbol of strength and determination – we look at the prospects for Chinese equities
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White papersWhy we think it’s too early to be cautious on equities
Value stocks outperformed momentum by almost 30% in November, but then gave back a third of this by the beginning of 2021
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White papersGlobal Emerging Markets engagement case study: Baozun
Investing in companies throughout market cycles as an active owner and partner, we maintain a regular dialogue and encourage strong environmental, social and governance (ESG) practices. Here we demonstrate how we are engaging with portfolio holding Baozun.
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White papers*A 3-D outlook for Asia & China equities – domestic, digitalisation, diversification*
Chinese and Asian equities roared back in 2020, outperforming peers thanks in no small part to an effective control of the pandemic. Asia is again the engine of global growth in 2021, helped by the emergence of significant intra-Asia trade. China, the largest economy in the region, continues its structural transition toward higher quality growth. In our view, the stage is set for Asian and Chinese equities to do well again this year.
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White papersSDG Engagement Equity commentary: Glanbia
Launched in January 2018, the Hermes SDG Engagement Equity Fund has the dual purpose of delivering attractive returns and measurable real-world impact.
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White papers2021 investment case in equities and how Japan fits into it
Although the global recovery began to be priced in last year, the current pro-cyclical rotation is likely to continue. Because of the dollar’s weakness, we prefer emerging markets, but Japan has other things going for it that, at the very least, can help balance out the portfolio.
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White papersWhat Happens When the Game Stops?
Valuations are stretched, but speculative option trading may not necessarily be a sign of widespread, unsustainable froth.
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White papersEquity factor investing – The impact of portfolio constraints on performance
We investigate the impact of long-only constraints on portfolio performance in the context of the recent underperformance of equity multi-factor funds.
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White papersChina to exert greater financial discipline in 2021
Imposition of financial discipline to reduce moral hazard is more of a risk to Chinese economic growth in 2021 than a tightening of monetary policy.
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White papersInternational Small Caps: Quality Plus Quantity
Screening for quality in international small caps is important, but what sort of “quality” should we look for, and can we find it without narrowing down our choice too much?
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White papersEquity factor investing: Putting performance into perspective
What drives the performance of equity multifactor funds? While the value, quality, low risk and momentum factor styles have outperformed over the long term, there have been periods of underperformance. These include the tech bubble of the late 1990s, the Great Financial Crisis of 2008, and now the COVID-19 crisis. Value factor underperformance explains this latest drawdown.
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White papersKey investment decisions in a multi-factor equity framework
When it comes to building an efficient and consistent multi-factor equity strategy, investors need to decide which factors to use and how to diversify their exposure. This determines the long-term risk-adjusted performance of the strategy.
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White papersIs a Blue Wave Enough to Deliver Blue Skies?
Disappointing U.S. employment suggests slowing momentum amid rising cases, but growth is expected to pick up on the backs of greater potential fiscal stimulus and vaccine deployments. Improving data in China confirms the PBOC can pursue its path of less accommodative policy.
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White papersGlobal Equities case study: Vonovia
In our latest case study direct from our Global Equities portfolios, we examine the favourable ESG attributes of current holding Vonovia, a German real estate company.
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White papersThe False Dawn of Big Tech Regulation?
Calls for increased regulation of tech giants have indeed grown—but will they have the desired impact? In our opinion, the focus on “big is bad” is simply ineffective in a digital world.
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White papersBiden, Taxes and Your Portfolio
Higher personal taxation under a Biden administration could strengthen the case for municipal bonds and tax-managed equity strategies.
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White papersBiden and Democrats take control despite Trump protesters
The 2020 US general elections ended on 6 January 2021 with a Democratic sweep of two critical Georgia Senate seats, giving Democrats a slim majority and control of government until at least the next round of Congressional elections in two years. The stunning developments on Capitol Hill will not change the significance of the Georgia election, which will have far-reaching implications for Biden’s policy agenda and financial markets.
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White papersGlobal Emerging Markets: ESG Materiality, Q4 2020
In our ESG Materiality Newsletter, Q4 2020, we seek to demonstrate our engagement activity with portfolio companies and showcase holdings that create positive impact aligned to the Sustainable Development Goals (SDGs)
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White papersGlobal Equities case study: Kurita Water
Our Global Equities strategies hold a diverse range of companies with attractive combinations of long-term fundamentals and good or improving ESG characteristics.
