All Equities articles – Page 16
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White papersMr. Trump Goes to Washington
The new U.S. administration has promised many pro-growth policies, but can those ambitions survive the disruptive measures of its early months?
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White papersRebalancing Act: Rethinking Growth Versus Value
Heading into 2025, a handful of mega-cap tech companies had tilted the U.S. public equity markets meaningfully into growth territory. Recent gyrations have revealed the potential risk in such positioning, and offered yet more evidence for why we believe it is time to rebalance portfolios by increasing exposure to value.
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White papersJapan’s economic revival – the first steps of a long-awaited transformation
At the beginning of last year, we sat down and put pen to paper on a thought piece which argued this was Japan’s decade of sustained economic momentum. The events of 2024 certainly strengthened our case.
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VideoStrapped to the mast
With short-term noise threatening to pull us off course, it’s crucial to stay ‘strapped to the mast’, says Stephen Auth, CIO, Equities.
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White papersSteering through the fog of policy uncertainty
Why a short-term economic soft patch should give way to a strong second half for markets.
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White papersConfronting the risk of a policy-driven recession
U.S. recession risks have risen amid policy shocks, severe tariff proposals, and elevated uncertainty, all weighing on growth and sentiment. While a slowdown appears likely, resilient fundamentals and potential future support measures suggest a 2025 recession is not yet a foregone conclusion.
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White papersRethinking the Stock-Bond Correlation
The correlation between stocks and bonds has been a prominent topic of discussion over the past 5 years, particularly due to the resurgence of inflation risks. Many portfolio managers, who had long assumed that the stock-bond correlation was negative, were surprised when this relationship turned strongly positive in the aftermath of the COVID-19 crisis. This article examines the stock-bond correlation from both a theoretical and an empirical perspective.
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White papersMonthly Market Viewpoint – Not so exceptional after all
Declines in US equities over the last month were primarily a function of disappointing economic data and a partial ‘Magnificent-7 unwind’ rather than tariffs. Lately, it has been self-reinforced panic selling, which we expect will be reversed. We remain optimistic on the medium-term outlook.
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White papersDecoding tariffs: What’s the economic impact?
A new round of tariffs targeting Canada, Mexico and China has whipsawed financial markets in recent days as investors wrestle with the implications of rising policy uncertainty and the impact on the global economy.
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White papersGermany’s historic step to raise spending
“A realisation in Europe on the need to spend more on defence and infrastructure has created a positive sentiment, leading to the recent upside in the markets.”
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White papersLocked ‘n’ loaded and ready to fire: first take on China’s National People’s Congress (NPC)
Premier Li Qiang kicked off the annual meetings of the National People’s Congress (NPC) with the government’s Work Report, marking the nation’s biggest political event of the year. Besides a busy calendar of political decision-making, the NPC is also closely watched by markets as Beijing sets the course for the economy and macro policies for the remainder of 2025.
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White papersTrade tensions: Navigating market risks
Escalating trade tensions are injecting fresh volatility into markets. The U.S. trade deficit, which remains sizable with key partners like China, Mexico, and Europe, underscores the stakes in ongoing trade disputes. However, while tariffs could increase costs and disrupt supply chains, history suggests that markets adapt over time. A well-diversified portfolio remains the best defense against short-term uncertainty.
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White papersUsing Factor investing to integrate sustainability objectives into a “3D” portfolio
The general philosophy of systematic equity investing and Factor investing is based on the idea that sustained long-term performance can be achieved through a well-diversified exposure to rewarded equity factors which are expected to effectively capture risk premia and optimize the risk budget of a portfolio.
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White papersGlobal Investment Views - March 2025
In February, the markets have shown that love is in the air: despite new tariff announcements, inflation risks, and the DeepSeek shakeup, positive market sentiment continues to prevail.
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White papersDeepSeek: evolution, not revolution, in artificial intelligence
What is DeepSeek’s real impact on AI, and what does it mean for investors?
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White papersAntitrust Angst
Does the retention of the Biden-era M&A guidelines raise more doubts about the new U.S. administration’s pro-business agenda?
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White papersMacro Monthly: American ‘Un’-exceptionalism?
Cracks have emerged in the US exceptionalism theme, with the S&P 500 index flat this year compared to the All Country World ex US index’s 6% performance. Markets such as the Eurostoxx 50 and MSCI China are up 11% and 18%, respectively, in just two months.
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White papersGlobal Emerging Markets Equity Outlook 2025
We believe three megatrends – digitisation, climate change, and demographics – will drive change in the global economy and business landscape for years to come. In this report we outline how we have invested in companies that we expect to benefit from this transformation.
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White papersChina’s ‘Sputnik moment’
China’s tech sector is surging, fuelling a broader market rally that has grabbed investor attention. With top Chinese companies taking a lead in innovation, the country is gaining influence in cutting-edge industries like AI. Can it sustain the momentum?
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VideoSet to soar: Our outlook for US SMID
In this video, Mark Sherlock, Head of US Equities, delves into the team’s outlook for US SMID stocks, exploring the impact of Trump’s presidency, recent volatility in the tech sector, and the broadening out of the market, highlighting new opportunities in a changing investment landscape.
