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White Papers

White Papers

In-depth, expert analysis on the changing landscape of investments around the world. Leading asset managers reports uncover trends, highlight changes and consider future strategic impact.

Macquarie - Equity-sector leadership can shift amid rising interest rates

In an environment in which interest rates have been steadily rising — the 10-year US Treasury yield has moved up almost 75 basis points since its recent low in September 2017 — one question that investors face is the potential effect of this phenomenon on equity sectors. Which sectors might be winners or losers in a rising rate environment?

Company: Macquarie
Date added: 03-09-2018
Sector: Global Equities

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Macquarie - What equities might have left to give in 2018

So far in 2018, equities have seen more turbulence than in recent years, including a sharp volatility spike in February. But in general, bulls have continued to hold sway in global stock markets. Trade wars, rising interest rates, and resulting uncertainty about global growth trends have left investors wondering about economic effects, and whether a historically long bull market is poised to finally wind down, or ramp back up. Below, several of our portfolio managers provide short takes on what might portend for equity markets in late 2018.

Company: Macquarie
Date added: 03-09-2018
Sector: Global Equities

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Invesco - Global Equities: Thinking differently about the world

We have been investing across global equity markets for more than 30 years and while markets have changed, we have always remained true to our investment principles, even if that has meant taking a very different view. We know from experience that to outperform the market, you often have to be different to the market.

Company: Invesco
Date added: 01-01-2017
Sector: Global Equities

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Schroders - TalkingEconomics: Global forecast update - growth and risks rise under Trump

We have upgraded global growth for the first time in nearly two years. Better near-term activity plus a more favourable outlook for the US, UK and emerging markets are behind the move.

Company: Schroders
Date added: 05-12-2016
Sector: Global Equities

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Schroders - The '75%' chance that the Santa Rally exists

Stockmarket superstitions should be treated with caution. However, analysis of decades of data suggests December has normally been a good month for equities.

Company: Schroders
Date added: 05-12-2016
Sector: Global Equities

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Schroders - 2016 Q1 Results

Schroders - 2016 Q1 Results

Company: Schroders
Date added: 29-06-2016
Sector: Global Equities

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Schroders - Global Market Perspectives Q2 2016

Economic and asset allocation views covering Q2 2016. This includes our global growth update, 30­year return forecasts, and our research note assessing the risk of a US recession. 

Company: Schroders
Date added: 08-04-2016
Sector: Global Equities

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New Capital - Latest Insights Equity Spotlight: The Growth is Out There

Much of 2016 has seen fundamental thinking thrown to the wind as fears abounded about a China slowdown, oil price depression and the fairy tale story of global economic growth. Despite this macro setting, there are plenty of opportunities for growth equities across the world.

Company: New Capital
Date added: 11-03-2016
Sector: Global Equities

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Lazard - An Unconstrained Approach to Generating Equity Income

The economic and capital market volatility in recent years has reduced the attractiveness of equities to many investors, and it has led to unprecedented flows into fixed income. However, the yields available in fixed-income markets were already low by historical standards, and additional capital flows have further reduced those yields.

Company: Lazard
Date added: 26-01-2016
Sector: Global Equities

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CapitalatWork - What the companies in which we invest tell us about the state of the world economy

Global equity markets started the year with a new plunge. The crash on the Chinese equity market pulled Western markets in its wake. European indices have lost nearly 10% since the start of the year and are about 20% down from their peak levels of April last year.

Company: CapitalatWork
Date added: 25-01-2016
Sector: Global Equities

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IDS Capital - All-In-One Presentation

We wanted to give you an update on the estimated performance of IDS Umbrella Fund – F&F All-in-One (equity oriented strategy) so far in January and comment on the portfolio current positioning. I also attach November letter in case you are missing it.

Company: IDS Capital
Date added: 25-01-2016
Sector: Global Equities

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Newton Investment Management - Equity income investing: Debunking the myths

Nick Clay challenges some of the preconceptions surrounding equity-income investing.

Company: Newton Investment Management
Date added: 19-01-2016
Sector: Global Equities

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TIAA-CREF - 2016 Economic and Investment Outlook: Modest global growth and market returns

Executive summary

  • Diverging monetary policy reflects varying rates of economic growth, with the Fed tightening as central banks in Europe and Asia ease further.
  • U.S. inflation will rise, but probably not by as much as the Fed thinks. For that reason, our base case calls for three interest-rate hikes in 2016, one fewer than the Fed projects.
  • Growth and a gradual return to normalized U.S. interest rates should drive demand for dollar-denominated assets, but we do not foresee a repeat of 2015’s sharp dollar appreciation.
  • Low valuations and improved corporate earnings trends should help European equities outperform U.S. shares. Identifying compelling opportunities in emerging-market equities will require selectivity and a degree of caution.
  • We expect modestly positive returns for U.S. investment-grade fixed income, while high-yield bonds may be choppy, despite the firming economy and a potential trough in oil and commodity prices

Company: TIAA
Date added: 19-01-2016
Sector: Global Equities

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Schroders - Global Market Perspectives Q1 2016

Economic and asset allocation views covering Q1 2016. This includes our 2015 review, three strategy questions for 2016 and a research note on the Federal Reserve's (Fed) rate hike. 

Company: Schroders
Date added: 11-01-2016
Sector: Global Equities

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Aberdeen - A fly on the boardroom wall

If you could have one super power what would it be?

Company: Aberdeen
Date added: 07-01-2016
Sector: Global Equities

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Legg Mason - Global multi strategy fund, Manager Q&A

Ian Edmonds believes Europe is the main area of weakness within the global economy. This Q&A is based on a webcast that took place on 8 October 2014, in which Ian considered the outlook for global bonds and discussed the key themes underpinning the fund’s positioning. 

Company: Legg Mason
Date added: 01-12-2015
Sector: Global Equities

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Legg Mason/Western Asset - Macro views, tactical opportunities

After years of low interest rates and strong equity markets, bond investors face many challenges – among them, heightened volatility and the prospect of higher interest rates at some point in the future. The Legg Mason Western Asset Macro Opportunities Bond Fund offers investors a flexible, high-conviction approach that has the potential for attractive returns in all environments and low correlations to traditional investments.

Company: Legg Mason
Date added: 01-12-2015
Sector: Global Equities

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New Capital - Global Equity Update

Global update on micro to macro trends.

Company: New Capital
Date added: 05-10-2015
Sector: Global Equities

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New Capital - Global Macro Outlook

Global growth: looks reasonable if unexceptional. Improving developed market v deteriorating EM.

Company: New Capital
Date added: 05-10-2015
Sector: Global Equities

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Aberdeen - Governing the ungovernable

Mark Twain once said, “If two people agree on everything, one of them is unnecessary”. Good governance is all about the quality of the interaction between the individuals within the boardroom, and making the most of the limited time they have together.

If those individuals always agree, they are wasting everybody’s time and adding no value as a board.

Company: Aberdeen
Date added: 01-10-2015
Sector: Global Equities

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Aberdeen - The need for stewartship

Where does corporate governance end and stewardship begin? What’s the difference? These were two key questions that Paul Lee, Head of Corporate Governance at Aberdeen and formerly Head of Investment Affairs at the National Association of Pension Funds, answered in his presentation at a Pensions Intelligence seminar in May.

Company: Aberdeen
Date added: 15-06-2015
Sector: Global Equities

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Invesco Perpetual Global Equities and the impact of the Brexit Vote on the global economy and financial markets

On 6 July 2016, Nick Mustoe (NM), Chief Investment Officer and Head of Global Equities, and Stephen Anness (SA), Global Equities Fund Manager, answered questions from financial advisers on the impact of the Brexit Referendum outcome on the global economy and on financial markets, and discussed where they see potential opportunities and their outlook on monetary policies, industry sectors and the broader equity markets.  

Company: Invesco
Date added: 00-00-0000
Sector: Global Equities

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