All Equities articles – Page 5
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White papersRevisiting the Case for Active Investing in an AI-Heavy Market
What might happen when the promise of AI meets market reality?
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White papersEvergreen funds: What every private equity investor should know
What are evergreen funds, why are they growing rapidly, and what role could they play in your portfolio?
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White papersGlobal Investment Outlook Q4 2025: A world in flux
Global markets are navigating a complex landscape shaped by policy divergence, trade tensions, and the unwinding of US exceptionalism. While the US remains a leader in technology and innovation, its dominance in global capital flows is being tested by slowing growth, fiscal pressures, and overconcentration in mega-cap technology stocks. A softer US dollar and heightened policy uncertainty are prompting investors to rethink their approach to safety, diversification, and drivers of returns.
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White papersMacro Brief: Can Korea follow in Japan’s footsteps to unlock shareholder value?
Over the past decade, shareholder returns in Asia have lagged behind the US, driving capital and attention westward, and highlighting the need for change.
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PodcastPivot Points: Rediscovering Europe, Japan and Emerging Markets
Amid shifting global market currents, investors are reassessing where the most compelling opportunities lie beyond the US. Shifts in earnings trajectories, valuation dispersion, and evolving policy signals are reshaping the risk-reward across regions and asset classes, prompting a fresh look at how to balance exposures.
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White papersResilient Emerging Markets in the Great Diversification
Despite ongoing geopolitical tensions and policy uncertainty, many emerging markets have demonstrated notable resilience, as recently noted by the IMF, driving strong year-to-date outperformance in both debt and equity versus developed markets. We believe we have entered an era in which geographic and sector diversification is back in focus amid geopolitical realignment, supply chain redesign and an intensifying technology race. This combination favours a reallocation to EMs at a time when these markets are supported by clear structural and cyclical drivers.
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White papersEquity Market Outlook 4Q 2025
In spite of concerns about AI-related valuations, we believe a strong economy—with monetary stimulus in the pipeline and still more to come—has set the stage for stronger equity performance in 2026.
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White papersUnderstanding Europe’s lag in the AI-led equity landscape
Despite substantial AI research output, Europe’s equities underperform because the region struggles with converting innovation into profitable, scalable AI businesses — structural obstacles like regulation, insufficient funding, and weak infrastructure suppress the growth potential of AI-led companies.
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White papersAmerica First policies: What are the global implications?
Through its tariff policy, the US administration is attempting to correct fundamental trade imbalances with the rest of the world. The US has the largest current account deficit globally, while countries such as China, Germany, and Japan boast meaningful surpluses.
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White papersGlobal equities overcome obstacles, remain in rally mode
Global equities delivered solid third-quarter results in 2025, with emerging markets leading non-U.S. benchmarks through nine consecutive positive months while U.S. shares rebounded from April’s tariff-driven selloff with the S&P 500’s best September since 2010. Despite diverging monetary policy, the Federal Reserve cutting rates to support a softening labor market while the ECB and BoJ held steady, equities rallied amid trade concerns and shifting earnings expectations. A broadly neutral stance balances growth-oriented U.S. technology stocks benefiting from AI with more defensive positioning in dividend growers, global infrastructure and utilities, which offer attractive income, lower volatility and exposure to rapidly expanding energy demand despite elevated valuations in some market pockets.
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White papersSoft signal: How Labubus became a barometer for the global economy
In 2025, few would expect a plushie keychain to offer a window into the state of the global economy. Yet, Labubus, by Chinese toymaker Pop Mart, have become an unlikely proxy for shifting consumer behaviour, the rise of cultural commerce and China’s expanding soft power, writes Noura Tan. Speaking to Jamie Zhou, a fund manager in the Asia Pacific Equities team, they unpack China’s next wave of consumer exports where sentiment drives strategy amid rising protectionism.
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White papersFrom electrons to photons: The next great compute transition
Computing has evolved through significant shifts in the medium and mechanisms of processing information, leading to transformative impacts on industries and economies. Carl Vine, Co-Head of Asia Pacific Equities, argues that another such change is happening now, with the use of photons. He explores what the transition from electrons to photons might mean for today’s dominant technology firms and who could win in the new photonics age.
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White papersAsset Allocation Committee Outlook 4Q 2025
After a remarkably resilient performance in 2025 for the global economy and markets, the Asset Allocation Committee (AAC) maintains confidence in its overall outlook—continued strength in growth and risk assets over the medium term, with targeted tactical exposures across asset classes and regions.
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White papersIn it for the long haul: The private companies creating the future
As the world undergoes rapid transformation, the companies shaping tomorrow’s economy can often go unnoticed. Alex Seddon explores how private markets are now offering a unique opportunity for investors to align their savings with the economy of the future.
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White papersFresh breadth? Market concentration in three charts
With the S&P 500 Index near record highs, have we moved past peak dominance for the Magnificent Seven (“Mag 7”) group of stocks? It appears so, and it represents a healthy move away from the extreme concentration that raised concerns about risks to investor portfolios.
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White papersQuarterly Equities and Multi Asset Outlook – Q4 2025
The recent flurry of AI deals, creating increasing interdependencies among some of the world’s largest AI players, is bringing back memories of the dot.com bubble. The key question in investors’ minds is whether we are now facing an AI bubble. The second derivative of the same question is whether we have reached a peak in equity markets overall, after a remarkable run. In our opinion, as is often the case, the answer’s not straightforward.
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White papersJapanese politics: Brinkmanship or break-up?
The Komeito Party’s announcement of its withdrawal from its 25-year coalition with the Liberal Democratic Party (LDP) has caused political uncertainty in Japan. Carl Vine, Co-Head of Asia Pacific Equities, explores historical precedents and considers the potential political and market implications of this split.
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VideoPortfolio Finance: 101
In this animated explainer video, we unpack what portfolio finance is, why it’s gaining traction, and how it’s helping investors tap into private markets with flexibility, diversification, and downside protection.
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White papersCapital Market Assumptions
Why a new economic regime calls for a reassessment of risk and rewards
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White papersRelative Value & Tactical Asset Allocation – Q4 2025
Turbulence in growth resulting from U.S. policy vacillations continues to drive expectations for global activity and inflation risks. Although initial tariff announcements resulted in a significant equity market downturn and a surge in volatility, financial markets have recovered and rallied. However, the tariff impact on data is likely to lag survey and other data, suggesting that we are unlikely to see a significant acceleration in economic activity anytime soon.
