China: The Comeback Kid?
As contrarian investors, we believe it often pays to bet against the crowd. Bargains can sometimes be found where there is controversy and when performance has been poor. China has been the world’s unloved market since 2020, with 2023 marking the fourth consecutive year of losses for the Hang Seng Index. The US, by contrast, is […]
(More) Questions Answered: Global Emerging Markets
What interesting investment themes are there for investors in EM outside Asia? I think the advantage of a global emerging market mandate is that it allows you a more diversified set of opportunities, a more diversified set of drivers for your portfolio. I think one of the things that we’ve been thinking a great deal […]
360°, Q2 2024:
Can strong technicals lead to stronger fundamentals?
FHL Stewardship Report 2023
Fast reading Monitoring engagement outcomes is crucial in ensuring our approach is effective and achieves the desired results. As such, this report contains new and updated examples, case studies and metrics throughout to demonstrate how our approach works in practice. This year’s report features information on our first deforestation risk assessment and mitigation activities across […]
Extra innings
Tipping point: UK Nature Strategy
UK companies and consumers have reached a tipping point when it comes to understanding the need to protect and enhance nature. The UK Nature team’s strategy provides exposure to projects and businesses that support natural capital and biodiversity in the UK. In doing so, the strategy aims to deliver high-integrity nature, climate and social impacts […]
Emerging market debt: the strong recovery continues
EMD report Q1 2024
Your Questions Answered: Global Emerging Markets
What does ‘quality’ mean in your approach to EM equities? I think it’s important, because ‘quality’ is a word that gets bandied around a lot, to define the terms that we use when we talk about quality companies. Quality for us means a number of things in the context of investing. Does the company have […]
Paradigm shift
market snapshot
Korea discount: a dream deferred?
Fast reading In our opinion, the ‘Korea discount’ has deprived investors of returns, in many cases leaving them impoverished relative to the growing value of the very companies into which they have invested. We believe it has also raised the cost of capital for South Korean enterprise, reduced risk-taking and economic activity, while undermining innovation. […]
