The curious case of Korea’s preference stock discount
Fast reading The small price differentials at which stock classes with differing voting rights trade at on US stock markets shows that investors don’t place a high value on greater voting power even in a market where greater voting power might result in better treatment in the event of a takeover. Korean preference shares are […]
SDG Engagement Equity Q2 2024 case study
Eagle Materials
KI und Investieren: die Kernrolle von Daten
Kurz gefasst ChatGPT und das dadurch ausgelöste Interesse sind der jüngste Schritt auf dem weiten Feld der künstlichen Intelligenz, das eine lange und wechselvolle Geschichte hinter sich hat. Generative KI ist sehr vielversprechend, aber die derzeitige Generation von Modellen birgt erhebliche Herausforderungen für den Einsatz bei Investitionen. Während sich dieser Bereich weiterentwickelt, arbeiten wir bei […]
Your Questions Answered: Asia ex-Japan
China stocks are ‘cheap’ and are your biggest overweight, yet many investors are shunning the region. What will lead to a sustained rally in Chinese equities? If you’re looking for a sustained rally, a lot of people are waiting for two things to happen. One is signs of the bottoming out of the property market, […]
Bonds, bullets and barbells – what happens after yield curve inversion?
While there is no single ‘right’ approach for extending portfolio duration, there are two basic ways to consider as a starting point. For example, an investor may use a barbell approach, allocating 50% to cash and 50% to an intermediate or long-duration fixed income strategy. Conversely, the investor could choose a single investment offering a […]
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?
Hang Seng soars as China sentiment shifts
market snapshot
Emerging market debt: the strong recovery continues
EMD report Q1 2024
