Italian banks in focus: Key takeaways from our engagement trip to Milan
The Corporate Sustainability Reporting Directive (CSRD) – is it fit-for-purpose? Companies are racing to finalise their first CSRD-aligned disclosures. However, issuers across several sectors have told us that compliance is neither easy nor cheap; it requires significant upfront costs to establish the necessary IT systems, hire dedicated full-time equivalents (FTEs), and achieve a cultural shift […]
Set to soar: Our outlook for US SMID
Video transcript Why do you believe now is the right time for US SMID stocks? We believe now is a really good time to be investing in US smaller and mid-cap stocks. Not only is the relative valuation cheap when compared to large-cap counterparts, but we also expect enhanced earnings growth over the next couple […]
Your Questions Answered: Asia ex-Japan
Video transcript South Korea has been in the news a lot recently. How do you view the country? We view the current political developments as more likely to have a positive outcome than a negative outcome, and the likelihood is that the left-leaning Democratic Party’s president will get in. That will mean that both the […]
Gilt trip
The term ‘bond vigilante’ has been tossed about lately, as fears arise about the sustainability of government debt burdens. The UK, in particular, has been on the receiving end of these narratives. Bond vigilantes are hard to distinguish from normal bond investors who are simply reacting to traditional economic cycles or allocation needs. So, what […]
EM leaders drive fiscal policy improvements
EMD report Q1 2025
Asia ex-Japan Equity: Letter to Investors
A shift in momentum?
Finding the balance
Investors seeking to determine a security’s ‘true’ long-term value and to invest in those priced below that value can employ various methods. Some may build dividend discounting models or apply multiples to earnings forecasts. Others may come from the top down, estimating total addressable markets, market shares and profit margins. One commonality these investors share […]
AI start-up rattles US goliaths
market snapshot
European stocks rally despite tariff fears
market snapshot
New sheriff in town
In the run-up to President Trump’s second term, investors have been trying to handicap the potential impact of his fiscal policies on inflation, economic growth, corporate profits, the Federal Reserve (Fed) and financial-market performance. Equity enthusiasm prevailed from early August into early December, as the S&P 500 soared 19% over that four-month period to its 57th […]
