All Equities articles
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White papers
Positive on Equities, Cautious on the S&P 500
Why we think 2025 could bring a long-awaited reward for the discipline of diversification.
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White papers
US Small Cap. Setting the Stage for 2025
U.S. small-cap indices have pulled ahead of large-cap indices over the past three to six months, and through the first half of 2025, we anticipate further catch-up in both stock prices and, for higher-quality small caps, earnings growth. We believe government spending, tax cuts, trade realignments, deregulation and conducive industrial policies will boost US smaller businesses.
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White papers
Are global small caps ready for a return to favour?
Premier Miton’s Imogen Harris, Global small cap fund manager, discusses how a recovery in global economic conditions and a mean reversion back to more normalised valuation levels could see a risk-reward balance that swings back in favour of smaller companies.
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White papers
Key Investment Themes 2025
The global economy avoided recession for a second year. Inflation began to cool and the major central banks embarked on a new cycle of interest rate cuts. However, geopolitical risk rose against the backdrop of a particularly busy election calendar around the world.
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White papers
Closing Bell 2024 : ‘Immaculate disinflation’ and the ‘Magnificent Seven’
2024 was another good year for tech stocks and equities overall
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White papers
2025 Outlook: We have seen this movie before
As we head into 2025, it is hard not to notice several parallels with the past; it feels like we have seen this movie before.
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White papers
Private Markets, Edition December 2024
It gives us great pleasure to announce that going forward, we’ve teamed up with The Red Thread as a means of connecting thinking across our industry. We believe that by unearthing the key threads that run though market trends, our readers should be able to see opportunity and risk with greater clarity.
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White papers
Investment Perspectives 2025 Outlook: No time for complacency
Markets took the key events in 2024 mostly in their stride. Will this relaxed view persist over the next 12-months? CIO’s from across our investment teams discuss the likely events and drivers they believe will shape investor returns over the coming year.
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White papers
UK equities: don’t believe the doom mongers
Remember Tony Blair? When Labour won a landslide election victory in 1997 after 18 years of Conservative rule, it inherited an economy on the rebound after a bout of inflation and high interest rates in the early 1990s. In the months that followed, sterling surged and UK stocks rallied.
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White papers
What does Trump 2.0 mean for emerging markets?
The shift on domestic and foreign policy under the incoming US administration presents a wide range of potential outcomes for EM.
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White papers
Will the equities rally continue in 2025?
Our Equities Outlook 2025 outlines why the Republican sweep in the US election could have wide-reaching implications for stock markets, currencies, commodities and foreign countries.
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White papers
A short-lived crisis with long-lasting implications: first take on South Korea’s political event
In a significant political development, South Korean President Yoon declared emergency martial law on December 3, 2024, accusing the opposition of engaging in “anti-state activities” and plotting rebellion. This declaration followed the opposition Democratic Party’s actions in the parliamentary budget committee, where they pushed through a downsized budget bill and submitted impeachment motions against key government officials.
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White papers
Where will returns come from? Pensions in a new economic regime
Where will returns come from? Pensions in a new economic regime
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White papers
Solid equity performances keep funding ratios on a high
Despite experiencing volatility in Q3 2024, markets demonstrated resilience with largely positive returns. The decrease in liability discounting rates in Q3 compensated these good performances, and funding ratios have been mostly stable over the period, still at comfortable levels.
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White papers
Can Black Friday ever be green?
With Black Friday, the retail event marking the unofficial start of the holiday shopping season, and other deep discount tactics rising in popularity, Premier Miton’s Fiona Manning considers whether e-commerce could ever turn green.
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White papers
Trumponomics to provide new twists in 2025
The US election and the radical economic programme President-elect Donald Trump has promised to implement will heavily influence macroeconomic developments in 2025. While much of the course of the year from an economic perspective is largely baked in, reflecting the existing momentum (or lack of) of the major economies, ‘Trumponomics’ will affect all and provide new twists.
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White papers
The CIO view: Shifts in the balance of risk and return
US President-elect Donald Trump’s radical policy agenda has created some financial market uncertainty, in terms of the outlook for investment returns. Nevertheless, we believe the central macroeconomic outlook remains favourable for bonds and equities. Growth, stable inflation and lower interest rates should support markets. But investment decisions need to consider cashflow resilience and valuations, given policy risks and broader concerns. For now, we don’t expect a recession in 2025 which should help deliver positive equity returns, while credit markets should provide attractive income opportunities.
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White papers
Seeking returns in private markets and emerging markets in a disruptive era
As pension investors transition to a new regime, one question has come to the fore: where will the returns come from?
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White papers
Consumer confidence sparks Black Friday
In November, US consumer confidence hit its highest point in over a year. Notably, expectations for the next six months (as shown in the chart) are at their highest level in nearly three years, which is promising for the upcoming holiday season. The increase in political discussions among survey participants indicates that the political climate following Donald Trump’s election may have influenced consumer attitudes.
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White papers
Responsible Investment in Private Equity
In this paper, we aim, as a follow-up of the broader paper we recently published on this topic, to analyze how Private Equity (PE) investors approach responsible investing cross-linking again conclusions from academic research with our experience as a PE investor as well as a survey of PE investors, including both Global Partners (GPs) and Limited Partners (LPs).