Equities – Page 8
-
White papersChina: Bringing the Long-Term Picture into Focus
While Chinese equities have faced increasing scrutiny, we believe the long-term case for the asset class remains compelling—supported by technological advancement, policy support, a resurgent consumer, and attractive current valuations.
-
White papersU.S. equities supported by a solid economy
U.S. equities remain near record highs, supported by strong consumer spending, tight labor markets, and healthy corporate balance sheets. These solid fundamentals help offset concerns around policy and geopolitical risks.
-
White papersHow to sustain dividend growth amid volatility – and sow the seeds of future performance
So far, 2025’s been a turbulent year – but dividend growth keeps us grounded. Dividend growth offers stability in volatile markets, balancing tech and defensives with disciplined investing and compounding returns driving long-term gains.
-
White papers30 years on, what can the AIM market teach us?
As AIM celebrates its 30th year Gervais Williams, Head of Equities, discusses the retreat of the Globalisation or Goldilocks years. Similar to the story of Goldilocks, who discovered a bowl of porridge that was neither too hot nor too cold, it has been so with globalisation. Economic conditions have been just right and assets have delivered supernormal returns – for decades and decades. However, there’s a gnawing market anxiety. Renewed nationalism. Protectionism. Economic conditions are no longer just right. Where will markets go from here?
-
White papersShinning a light on share remuneration
Share buybacks have become a standard corporate tool in achieving capital efficiency. In a share buyback, a company buys its own shares from existing shareholders, and thereby distributing capital to them in an alternative way to dividends. The practice was banned in the US until the early 1980’s when SEC formally set out the regulation, and eventually it spread globally. This growth has taken place despite some concerns that share buybacks were being used for management’s personal gain at the expense of long-term growth. Critics have also suggested that they have dampened innovation and encouraged excessive leverage levels.
-
White papersAI vs. AI: the arms race in cyber space
AI is reshaping cyber warfare, making it faster, smarter, and harder to stop. Here’s why security must evolve just as fast.
-
White papersThe idiosyncratic advantage: Where unique insights drive unique returns
Identifying company-specific opportunities is key to generating returns that passive strategies can’t replicate. Principal focuses on deep, research-driven stock selection to uncover these unique advantages.
-
White papersMaking Europe great again: A new era for value investing?
After years of underperformance, European equities are outperforming their US counterparts this year. We explore what’s making European markets great again – and discuss why we believe the emergence of a new positive story for Europe could offer opportunities for value investors.
-
White papersFinding Europe's elusive alpha
Over the last 25 years, a wide gap has emerged between the US and European economic and stock market performance. Steve Magill looks at whether recent signs of a challenge to this hegemony are a mere blip, or an important inflection point.
-
White papersEurope: A strategic overweight?
After a long period of US equity outperformance relative to Europe, the short-term picture has changed. Evan Brown, Nicole Goldberger and Marco Bischoff look at whether this is a temporary anomaly or indicative of a longer-term trend.
-
White papersIndia and EM are winners of the rerouting shift
We maintain a positive outlook on emerging market (EM) equities for H2 2025, driven by recovering macro momentum, stabilising inflation, and central banks on an easing path. While growth remains positive and earnings decelerate to low single digits, the key narrative is the fading US exceptionalism, highlighted by a weakening dollar and declining trust in US policy, which enhances the attractiveness of EM through repatriation and diversification flows.
-
White papersNavigating Secondary Growth: Opportunities Beyond the Horizon
While secondaries have been one of the fastest growing segments of the private equity market for more than a decade, we expect that further demand for liquidity, along with renewed macroeconomic uncertainty and recent market volatility, will continue to create attractive opportunities for seasoned secondaries investors in the current environment.
-
White papersMacro brief: What could a China shock 2.0 mean for Europe?
High US tariffs make it more likely a bigger share of China’s industrial overcapacity finds its way to Europe. This would benefit European consumers by lowering inflation and boosting real incomes. But without any trade response from Brussels, it could squeeze domestic production and to counter that, targeted trade defence measures may be required.
-
White papersNavigating the fog of tariffs in emerging market equities
We don’t pretend to have all the answers on China and the US, and we reserve the right to change our minds – especially as Donald Trump changes his. Amid such market volatility we are not making bold macro calls, instead our focus is on thoughtful, quality-led stock selection.
-
White papersEquity Outlook – More wind in the sails
The imposition of tariffs by the Trump administration puts more wind in the sails driving the dominance of tech and related sectors versus the rest of the market.
-
White papersWho will benefit from deregulation?
U.S. deregulation efforts are concentrated in energy, industrials, and financials—with small-cap stocks poised to benefit most—while healthcare and environmental sectors may face headwinds. The deregulatory impact isn’t fully reflected in markets yet, offering potential upside for select sectors and smaller companies.
-
White papersStock market outlook: New growth catalysts amid volatility
As tariffs, trade wars and real wars upend the global economy, the path of equity markets remains uncertain heading into the second half of 2025.
-
White papersJapan at the Crossroads: Navigating Trump 2.0 and tariff risks
The Trump administration’s second term has been marked by a renewed emphasis on bilateral trade deals, economic nationalism, and strategic use of tariffs as a tool of leverage. While the administration has signalled a desire for “quick wins” with key partners such as Japan, the underlying uncertainty surrounding the permanence and scope of tariffs remains a central concern.
-
White papersJapan’s Corporate Reforms Create a Catalyst for Equity Returns
A new culture of reform at Japanese companies offers exciting potential for equity investors.
-
White papersMidyear equity outlook: Staying selective amid volatility
A year that began with a rosy outlook for equities was soon jolted by tariff announcements, sending markets reeling. Looking out for the remainder of 2025, we remain constructive in our outlook on equities. Tariff tumult and a challenging macroeconomic environment remain acute in many regions.
