Insights | Capital Group

Insights

Global Investment Themes to Watch in 2017
US interest rates and corporate earnings, bifurcated emerging markets – these are just some of the themes our portfolio managers will be keeping an eye on.

January 2017

 



2017 Outlook: Navigating a world in transition (PDF)
Amid a shifting political landscape and muted growth, should investors reset their expectations? Our 2017 Outlook brings you perspectives on the latest developments facing investors today.

January 2017

 



Fixed Income Focus: Municipal and Global Bonds (PDF)
In this issue of Fixed Income Focus, we discuss why revenue bonds are often a better muni value, and how foreign currency exposure can help protect purchasing power.

January 2017

 



30 Years in Emerging Markets (VIDEO)

A pioneer in emerging markets (2:03)
The importance of a research-driven approach (2:12)
The evolution of emerging markets (1:51)
Emerging markets: an important part of a long-term investor’s portfolio (2:13)
Emerging markets outlook (1:44)

January 2017



Five Keys to Investing in 2017
There are steps investors can take to be prepared for market volatility and political uncertainty.

January 2017

 



Improving fundamentals boost emerging market debt (PDF)
What are the most compelling investment opportunities right now in emerging market debt? Portfolio manager Laurentius Harrer shares his view.

January 2017

 



The Political Challenge of Populism (VIDEO)
What gave rise to the populist movement in this country? Our policy and communications advisor, Matt Miller, reflects on its origins and implications in this video.

January 2017

 



The Fed Raises Rates, With an Eye on Inflation
The US Federal Reserve hiked interest rates in December and now appears more vigilant on inflation going forward.

December 2016

 



Trump and Trade: Separating Talk From Truth
When it comes to trade, President-elect Trump will need to reconcile campaign promises with pragmatism, says our policy and communications advisor Matt Miller.

December 2016

 



Gain an active advantage in Japan (PDF)
Many stock markets around the world offer active managers room to generate superior returns. Among them, Japan stands out.

December 2016

 



Extracting the value in US credit (PDF)
The US investment-grade credit market is broad, deep and diverse. Find out what it takes for an investment manager to extract this value.

December 2016

 



Seeking returns in any market environment (PDF)
Should investors consider investment-grade corporate bonds in the current environment? Fixed-income investment director Luke Farrell shares his views.

December 2016

 



Post-Post-Crisis Era to Continue (PDF)
Reports of the bond market’s death have been greatly exaggerated. Read to find out why fixed income should remain a core component of a balanced investment portfolio.

December 2016

 



Not all fund managers can stand the test of time (PDF)
Fund managers merge or discontinue funds for a mixture of reasons. Those with a low record of restructuring their funds tend to be more aligned with investors’ long-term objectives.

November 2016

 



Welcome to the post-post-crisis era (VIDEO)
Mike Gitlin, head of fixed income for Capital Group, explains why we’re in a “post-post-crisis era,” the term he uses to characterize today’s global economy.

November 2016

 



Will Better Productivity Prop Up Lagging U.S. Profits?
Capital Group economist Jared Franz discusses the connection between U.S. productivity and profits, and shares his outlook for both.

November 2016

 



How Trump’s Policies Might Move Interest Rates
What are the implications a Trump administration may have for interest rates, inflation and the Federal Reserve?

November 2016

 



Trump’s presidential win may not be so bad for the economy
Republicans will soon control all three branches of the US federal government. Read how that could affect the economy.

November 2016

 



US Election 2016 (PDF)
How president-elect Donald Trump could move markets through policy decisions in five key areas.

November 2016

 



Is the US becoming a stock picker’s market again? (PDF)
Portfolio manager Grant Cambridge shares his views on the current state of the US economy, where he sees opportunities in the US equity market, and the upcoming US presidential election.

November 2016

 



Brexit could have a soft or hard landing as it faces fresh challenges in UK
The knee-jerk reaction from Brexit reflects the view that we are now more likely to see a “soft” Brexit. Capital Group economist Robert Lind shares a few thoughts on the recent developments.

November 2016

 



The Rise of Political Populism and What It Means for Investors
With key elections pending in the US and four countries in Europe, political risks are growing as global growth slows.

November 2016

 



Why invest in Sub-Saharan Africa? (PDF)
With many countries experiencing a protracted period of low economic growth and negative interest rates, Sub-Saharan African bond markets offer the potential for stronger growth and exhibit lower-than-typical correlations to other emerging markets.

November 2016

 



US earnings slump showing signs of a reversal
Capital Group economist Jared Franz has an improving outlook for US corporate earnings. What factors is he watching?

November 2016

 



China's tech giants are leapfrogging the US in mobile innovation
Chinese internet companies are developing cutting-edge apps amid the country’s shift to a services–led economy.

November 2016

 



The Long View: The changing face of the global consumer (PDF)
Whether it’s housing for millennials or healthcare for baby boomers, a significant shift in the way people spend money is underway in both advanced economies and the developing world.

November 2016

 



Investing in the second machine age (PDF)
Robot surgeons. Self-driving cars. Automated factories. Amid staggering improvements in technology, machines are beginning to take on tasks that were once out of their league. Whether the world is ready or not, the second machine age has arrived.

November 2016

 



Fixed Income Focus: Corporate bonds and global rates (PDF)
This issue of Fixed Income Focus shows you what makes US corporate bonds so attractive and how hedging costs are shifting global demand for US Treasuries.

November 2016

 



The biggest mistakes investors make and how to avoid them (VIDEO)
Reacting to short-term market moves, following the crowd and allowing the media to influence investment decisions can distract an investor from focussing on the long-term. Avoiding these financial mistakes can be an important contributor to achieving attractive long-term returns and can help investors meet their investment objectives.

October 2016

 



Decision 2016 – The US Presidential Election (VIDEO)
Capital Group investment professionals discuss the upcoming US election and what the outcome may mean for the US economy, public policy and investments.

October 2016

 



Dividend and value investing seem similar... until you look at volatility
Some yield-seeking investors think value and dividend investing are the same. Learn about the differences and why they matter.

October 2016

 



Could we be on the verge of another commodities boom?
Capital Group portfolio manager Nick Grace says we're about to witness something he never expected to see: curtailments in China.

October 2016

 



European economic growth losing steam again
Mounting political risk and deflationary pressures are weighing on the outlook for the European economy. Read one economist's take.

October 2016

 



The US municipal market demands a research-driven active approach (PDF)
A decade ago, most new municipal issues were sold with bond insurance. For some investors, risk in the US municipal market was an afterthought. Not so any more.

October 2016

 



Back to the future: Old-school semiconductor stocks heat up
When looking for the next great thing in the tech sector, semiconductors usually don't come to mind. This year may be different.

October 2016

 



Inflation may soon inflate
The market has lowered its inflation expectations, but is the outlook justified? Fixed-income portfolio manager Ritchie Tuazon explains why inflation could move higher, and what that means for Treasury Inflation-Protected Securities.

October 2016

 



Africa leapfrogs landlines, and takes a shortcut to the bank
Many emerging markets have struggled lately, and continue to face macro headwinds that make for a challenging investment environment. But despite the issues facing developing countries, technological innovation is providing a tailwind.

September 2016

 



Following six quarters of declines, are corporate profits set to grow?
Could earnings start to improve from here? Indeed, there are a few positive signals, particularly as some of the headwinds to corporate earnings begin to ease. Here are four main factors pushing S&P 500 earnings lower, and all of them are showing signs of a potential shift.

September 2016

 



Why drones – not helicopters – are more likely as the next stimulus
As governments take the brakes off spending, fixed-income portfolio manager Mark Brett favours the US Treasury Inflation-Protected Securities, the Japanese yen and local currency emerging market bonds.

September 2016

 



Fixed Income Focus: High-yield munis and global politics (PDF)
This issue of Fixed Income Focus shows you how to find value in distressed bond sectors, and what political change means for investors.

September 2016

 



Top investment stories from 2016 told in eight key charts
From Brexit and recession fears to negative rates and oil shocks, there has been no shortage of investment headlines so far this year. Here are eight charts that explain some of the most important stories from 2016.

September 2016

 



Not just fun and games, Pokémon GO is an intellectual property phenomenon 
While the market remains focused on the Pokémon GO phenomenon as a mobile gaming success story, there appears to be more to this story than meets the eye. Equity investment analyst Sugiharto Widjaja discusses how globally recognisable intellectual property can provide powerful tailwind for companies.

September 2016

 



Pendulum for emerging market bond may be on the upswing (VIDEO)
Capital Group portfolio manager Rob Neithart discusses the rapid evolution of the emerging markets fixed income universe and suggests that today may be a good time for investors to consider participating in it.

August 2016

 



Bond opportunities in Argentina, India offer sharp contrast 
What are some of the characteristics that make Argentina unique from Brazil? Are bright spots emerging in India's enormous government bond market? Watch this video as portfolio manager Rob Neithart discusses the contrasting bond opportunities he is finding in Argentina and India.

August 2016

 



Fixed income 3.0: How to approach bond portfolios in a post-post-crisis world (PDF)
Several of our fixed-income professionals, including the head of fixed income Mike Gitlin, discuss some of the considerations fixed-income investors should bear in mind in this environment. These include not fearing duration, avoiding bond strategies with “scope creep” and aiming for liquid assets.

August 2016



China Update: What to watch in the second half of the year and beyond
As we head into the second half of the year, Capital Group’s Beijing-based China affairs specialist Andrew Dougherty and Hong Kong–based economist Stephen Green offer their latest views on China’s economy, currency and potential investment opportunities.

August 2016



EM Outlook: Turning points emerge in developing world
Emerging markets have been volatile against a challenging macroeconomic backdrop. With elections pending in several countries, political uncertainty remains high. Yet, interestingly, many emerging markets’ economies are at the beginning stages of economic reforms and recovery.

August 2016



US outlook: the world’s bright spot (PDF)
After a ‘growth scare’ and Brexit, the US economy forges ahead.

August 2016



Seeking returns in any market environment (PDF)
In this Q&A, portfolio manager David Lee discusses his approach to investing in corporate bonds, and how he works with analysts to seek to generate excess return in a variety of economic and market environments.

August 2016



Uncovering value in emerging market bonds (PDF)
Amid political change and uneven growth, the yield advantage of emerging markets over developed markets is hard to ignore, and in some cases valuations are as attractive as they’ve been in years.

August 2016



Japan remains committed to achieving sustainable, nominal growth (PDF)
Portfolio manager Seung Kwak shares his views on Abenomics, the postponement of Japan’s second consumption tax increase, and the impact of negative interest rates and Brexit on the country.

July 2016



Fixed Income Focus: Corporate bonds and inflation (PDF)
Find out how European monetary policy is affecting corporate bonds beyond its borders, and why monetary policymakers in the US may choose to embrace potential inflation.

July 2016



Midyear Outlook: Look for opportunity through the fog of uncertainty (PDF)
Beyond the noise, the global economy is expected to remain on a path of growth – albeit very slow growth.

July 2016



How exposed are UK companies to Brexit? 
Despite the uncertainty hovering over UK and European companies, it’s important to note that many of their businesses are global.

July 2016



Three reasons why the UK should be OK
It’s not worth dwelling too much on the reasons why British voters opted to leave the European Union. For investors, a key question today is, will the UK be OK going forward?

July 2016



US election 2016: Potential outcomes and areas of policy focus (PDF)
With several months to go before the US presidential election, Capital Group’s US public policy and communications advisor Matt Miller believes that a number of outcomes are possible.

July 2016



Eight decades in the making (VIDEO)
Portfolio manager, Jim Lovelace, explores the history of Capital Group and our eight decades of investment experience.

June 2016

 



Economic growth and secular stagnation: What lies ahead? (VIDEO 1:26)
Will China face a hard landing? What is the impact of secular stagnation on global growth? Hong Kong-based economist Stephen Green shares his views on recent economic developments, as well as the challenges and potential opportunities for investors.

June 2016



Keeping perspective in post-Brexit volatility (PDF)
Following the exit vote in the UK’s EU referendum, we outline our perspective on some of the implications.

June 2016



Are there reasons to be optimistic about the US economy? (PDF)
Investment director Dale Hanks explains why a prudent, actively managed approach to investing in US equities may become even more important in the current environment.

June 2016



Fixed Income Focus: US rates and Danish mortgage bonds (PDF)
Even if the Fed hikes rates this summer, long-term rates are likely to stay low. With this in mind, it is important for investors to look towards global niches to find the value they require.

June 2016



A new dawn for Brazil (VIDEO)
Capital Group portfolio manager, Carl Kawaja discusses corruption investigations in Brazil and how he is assessing the potential for new investment opportunities there.

May 2016

 



Sub-zero world: Not much positive about negative rates (PDF)
As a growing number of central banks adopt negative interest rates, what does it mean for the global economy?

May 2016



Fixed Income Focus: Volatility becomes the new norm (PDF)
Investment specialist Greg Garrett explains why investors should get used to volatility and how they can utilise core bond portfolios to mitigate risk.

May 2016



Pessimism about Japan is overdone (PDF)
Seung Kwak, portfolio manager for Capital Group’s Japan Equity strategy, explains why he thinks that the downbeat verdict on Japan is premature. The country has embraced far-reaching structural changes – some that once seemed unthinkable.

May 2016



Keys to prevailing through stock market declines (PDF)
Here are some tips to help you avoid common pitfalls and stay on track toward achieving your financial goals.

May 2016



The Long View: Investing in US innovation (PDF)
The United States’ entrepreneurial spirit and the economy’s resilience are providing unprecedented opportunities for companies and investors.

May 2016



Fixed Income Focus: Negative rates and US credit outlook (PDF)
As fixed-income investors face negative rates and other challenges in several developed markets, the search for better value could lead them to US bonds.

April 2016



The search for secure income (PDF)
At a time when bond yields are low, equity strategies based on dividend payers have obvious appeal.

April 2016



Emerging market fundamentals stronger than markets would suggest (PDF)
Portfolio manager Kirstie Spence explains why emerging market fundamentals may be stronger than markets would suggest and gives her view on the key themes that are having an impact on the global markets.

March 2016



The new breed of global companies is creative, nimble and networked (PDF)
Learn about the shift in the makeup of global businesses to idea-driven companies, why the speed of product adoption is much faster, and the importance of global distribution networks.

March 2016



China mired in slow growth, major FX move unlikely (PDF)
Our Asia specialists lay out a soft landing for China and why a massive currency devaluation isn’t likely.

March 2016



Fixed Income Focus: US economic outlook (PDF)
In our third instalment of the Fixed Income Focus, investment specialist Greg Garrett discusses the mixed outlook for the US economy and what this means for investors.

March 2016



Abenomics at a crossroads (PDF)
Seung Kwak, portfolio manager for Capital Group’s Japan Equity strategy, details what the negative interest rate policy means for Japan Inc and explains why he thinks Abenomics still has legs.

March 2016



The dollar's ascent could be in its final phase (PDF)
Portfolio manager Mark Brett shares his view on the period of dollar strength and the opportunities in emerging market currencies.

February 2016



Credit and US rates outlook (PDF)
In this issue of Fixed Income Focus, we discuss how last year's trends could shape this year's credit market, and what to expect from markets as the Fed tightens rates.

February 2016



China, Volatility and Why This Is Not 2008 (VIDEO 3:32)

Portfolio manager Jody Jonsson discusses the role of China’s decelerating GDP and overvalued currency in the latest market volatility.

January 2016

 



A distinctive approach to investing (PDF)
In this Q&A, Capital Group New Perspective portfolio manager Rob Lovelace discusses how our multiple-portfolio-manager approach, The Capital System, sets it apart from many other global asset managers.

January 2016



Japan: New year, new risks? (PDF)
Investors in Japanese equities were taken on a bumpy ride last year. Will it be any different this year? In this Q&A, Seung Kwak, portfolio manager for Capital Group's Japan Equity strategy, offers his views on the outlook for Japan's stock market and economy.

January 2016



Opportunities in 2016 Amid Bumpy US Recovery (VIDEO 2:09)

Capital Group portfolio manager Tim Armour discusses his outlook for the US economy and US company growth.

January 2016

 



US, China Trade Places as Global Growth Engine (VIDEO 3:28)

Portfolio manager Rob Lovelace offers his perspective on recovery and growth in China, the US, Japan, Europe and the emerging markets.

January 2016

 



Investment Themes to Watch in 2016 (VIDEO 3:33)

Portfolio managers Tim Armour and Rob Lovelace discuss opportunities in the emerging markets, energy, health care and the Internet.

January 2016

 



Fixed-Income Themes for ’16: Inflation, Quality (VIDEO 2:19)

Capital Group portfolio manager John Smet discusses areas of opportunity he sees for fixed-income investors looking ahead into 2016.

January 2016

 



Capital Group Hiring Where the World is Going (VIDEO 2:30)

Capital Group portfolio manager Rob Lovelace discusses the investment group’s approach to hiring new research associates.

January 2016

 



2016 Outlook: Seek bright spots in uncertain markets (PDF)
As the year unfolds, investors who can see beyond macroeconomic headlines and seek out bright spots across the investment landscape stand to benefit.

January 2016



Volatile markets to persist as investors adjust to new realities (PDF)
Global stocks have started the year on a volatile note amid slowing growth in China, lower oil prices and weak industrial activity. But we believe that chances of a global recession or financial crisis are low.

January 2016



Q&A with portfolio manager David Daigle (PDF)
Capital Group Global High Income Opportunities portfolio manager David Daigle shares his outlook on the corporate high-yield bond market, including his view on valuations and the potential impact of US interest rate rises.

January 2016



Rates and liquidity outlook (PDF)
Is this time different for the US rate cycle and its global impact?

January 2016



Emerging markets: not when, but how (PDF)
Investors have been asking when they should get back into emerging markets. But for us, the real question is how.

January 2016



Local and dollar bonds provide different routes to returns (PDF)
An unconstrained approach to investing in emerging market debt can be beneficial in the current environment, where economic growth patterns and fundamentals are diverging.

December 2015



Fed rate decision: liftoff at last, but no cause for panic (PDF)
Read the perspective of Capital Group fixed income portfolio managers on the Fed's decision to raise rates for the first time in nearly a decade.

December 2015



2016 Market Outlook - Investment Opportunities in a Slow-Growth World (PDF)
Despite a tough year for the financial markets, we believe that there will continue to be ample opportunity for long-term investors. Find out more from the views of Capital Group portfolio managers on the current investment environment and identify opportunities in 2016.

December 2015



Emerging markets: where do we go from here? (PDF)
Many investors have reduced allocations to emerging markets in recent years. However, with valuations becoming compelling and the long-term investment case remaining strong, there are signs that many are considering the asset class once more.

December 2015



Taking India's Pulse (PDF)
The challenges are considerable, but so is the potential.

December 2015



Find opportunities in a diverse global bond market (PDF)
In this Q&A, Capital Group Global Bond strategy portfolio manager Thomas Høgh shares his insights on the key issues that confront global bond investors today and his outlook for economic growth in 2016.

November 2015



US interest rate outlook: expect a slower path to higher interest rates (PDF)
The key question facing US monetary policy is not when the Federal Reserve will raise interest rates, but how far it can go given mixed economic conditions in the US and intensifying financial pressures around the world.

November 2015



Q&A with portfolio manager Robert Neithart (PDF)
Fixed income portfolio manager Robert Neithart shares his views on why, despite the potential for further weakness in the short term, the long-term outlook for emerging market debt is much more positive.

October 2015



Take on near-term volatility with a long-term focus (PDF)
Despite recent market turbulence, history reminds us that declines are a relatively routine event. Read our Quarterly Investment Insights for perspective on the latest developments facing investors today.

October 2015



A new perspective on global investing (PDF)
Through identifying changing global trade patterns and companies that are able to reshape the competitive landscape, the New Perspective strategy has outpaced the market since inception in the US.

October 2015



Take a long-term view and stay invested (PDF)
Much has been said about the time horizon of investing, but what do long and short time horizons really mean? One way to think about the issues surrounding investment horizon is to consider them through two perspectives – that of the asset owner and the investment manager. Read to find out more.

October 2015



Q&A with new leader of fixed income at Capital, Mike Gitlin (PDF)
The new chair of our Fixed Income Management Committee shares his thoughts on the increasing role of fixed income at Capital, especially as changing demographics lead to a greater need for more secure retirement income.

September 2015



Fed rate decision: near-zero for now, but higher soon? (PDF)
Find out why bond investors shouldn't fear the Fed, and what we think are the current opportunities in the US stock market.

September 2015



The Long View: the future is under construction (PDF)
Today's wave of urbanisation is bigger and faster than ever, and it is transforming the developing world. The migration to cities calls for massive investments in infrastructure and technology, creating significant opportunities for companies and investors.

September 2015



Emerging market debt: investing in a period of structural change (PDF)
Further volatility is a distinct possibility, but selective investors should continue to find attractive longer term return potential across local and dollar-denominated markets.

September 2015



Japan Equity Q&A with portfolio manager Seung Kwak (PDF)
The lead portfolio manager takes stock of the present state of affairs in Japan and offers his views on the portfolio's current investment themes as well as new opportunities that he's exploring.

September 2015



Q&A with Mark Denning (PDF)
The lead portfolio manager of Capital Group’s European Growth and Income strategy discusses his approach to investing and offers insights into the current portfolio positioning, and where he sees the most promising investment opportunities.

September 2015



The China syndrome: meltdown or recovery ahead? (PDF)
Segments of China's economy remain poised for growth despite an overall slowdown in activity. Our economist Stephen Green and China affairs specialist Andrew Dougherty discuss their outlook for China.

September 2015



Keys to prevailing through stock market declines (PDF)
Here are some tips to help you avoid common pitfalls in volatile markets.

August 2015



Perspective on recent market selloff triggered by China woes (PDF)
Global stocks have tumbled in recent days but periodic market corrections are not necessarily bad news – especially if they provide opportunities to invest in strong companies at attractive prices.

August 2015



10 observations about the current market environments (PDF)
Portfolio manager Ted Samuels offers his perspectives on recent market volatility and offers strategies for putting present events into context.

August 2015



Investing in Africa: using research to identify the full spectrum of opportunities (PDF)
It is often difficult for investors to access Africa. Having access to the broadest possible emerging market opportunity set potentially allows for greater diversification within a portfolio and helps limit investment risk.

August 2015



Africa: the land of selective opportunity (PDF)
African bond markets offer the potential for positive credit migration and diversification. Find out how on-the-ground research and comprehensive macro analysis can weigh up the fundamental outlook for each country with the valuation of the bonds.

August 2015



Research-driven multinational focus has generated superior returns (PDF)
Capital Group’s New Perspective strategy focuses on investing in companies that have benefitted from changes in global trade patterns. We are now making this strategy available to our investors in Asia for the first time.

August 2015



Signs of stabilisation in China’s economy (PDF)
China has continued to deleverage and growth is still moderating, but the worst may be over and, over time, the reform agenda should move the country forward.

July 2015



Q&A with Capital Group Global High Income Opportunities portfolio manager Laurentius Harrer (PDF)
Our portfolio manager Laurentius Harrer discusses the outlook for emerging market debt and high-yield corporates. He also explains his preference for high yield over emerging market debt given a strong US dollar and weak commodity prices.

July 2015



Q&A with Capital Group Emerging Markets Debt portfolio manager Laurentius Harrer (PDF)
Our portfolio manager Laurentius Harrer discusses the outlook for emerging market debt and highlights his high-conviction ideas.

July 2015



Midyear Investment Insights: Economic crosscurrents call for selectivity (PDF)
Changes in monetary policy and uneven levels of growth around the globe make it a time to be selective. Gain perspective on the latest developments facing investors today.                                        

Bull Market’s Lifespan Comes Down to Fundamentals (VIDEO 1:55)

Fed Weighs Market Jitters as It Ponders Rate Hike Timing (VIDEO 3:15)

Evolving Japan Now Offers Intriguing Opportunities (VIDEO 3:53)

China’s Economy-in-Transition Still Ripe for Investment (VIDEO 2:23)

Opportunities in Oil Companies That Can Weather Price Swings (VIDEO 2:54)

Europe Showing Signs of Recovery (VIDEO 3:54)

U.S. Valuations Should Be Judged in Broader Context (VIDEO 2:44)

July 2015



Capturing value opportunities in Japan (PDF)
Our Japan Equity portfolio manager, Andrew Johnsen, shares his value investing approach and where he sees attractive investment opportunities in Japan.

June 2015



How global dividend growers can deliver more growth and less volatility (PDF)
Past experience suggests that shares in dividend-growing companies tend to be less volatile than the overall market and more effective at preserving value in down markets, which is important for building superior long-term investment results.

June 2015



Use a new geography approach to portfolio construction (PDF)
A new approach to global investing is to consider where companies do business, not where they are domiciled.

June 2015



Secular Change in the US Retail Sector (PDF)
The rise of e-commerce is having a profound effect on the US retail sector and is likely to generate new winners and losers – creating opportunities for stock pickers.

June 2015



Dividends have more room to grow (PDF)
Unsteady economic growth and other headwinds may have cast doubts over the direction of dividends in the near term, but the longer-term outlook is bright.

June 2015



Emerging market debt: Evolving with the asset class (PDF)
Emerging market debt (EMD) has evolved from a US dollar sovereign debt market to a diverse mix of local and hard currency sovereign and corporate debt. As the asset class has evolved, so have our capabilities in managing EMD.

May 2015



The Long View – No Status Quo: The Difference Disruption Makes (PDF)
Emerging technologies are creating new products and business models that are disrupting the old ways. For both companies and investors, rapid change can be unsettling, but it can also present opportunities and potential rewards.

May 2015



Emerging Markets: Challenges and Opportunities (VIDEO)
ETOP portfolio manager Shaw Wagener shares his views on recent developments in emerging markets and the ETOP strategy.

March 2015

 



Investing in Japanese manufacturers with sustainable competitive advantages (PDF)
Manufacturers comprise a sizeable portion of the Japanese stock market and developing a strong understanding of them is imperative for active investors.

May 2015



Using our globally integrated research to invest in Europe (PDF)
As a global investment management company, we leverage our widespread research footprint to analyse European companies in a truly global context.

April 2015



Investing in quality companies for the long term (PDF)
Our US Growth and Income portfolio manager, Barry Crosthwaite, discusses his approach to investing and the current market environment in the US.

April 2015



Emerging market local currency debt: A mainstream asset class (PDF)
We review the development of this increasingly mainstream asset class and discuss the characteristics that could make emerging market local currency debt an attractive option for investors.

April 2015



Emerging markets today (PDF)
The emerging market story is far from over but an active, bottom-up approach is critical in a market where, increasingly, company-specific factors are driving investor returns.

March 2015



India: Modi reforms pave the way to growth (PDF)
India, with its push for economic reforms and positive growth prospects, may represent an increasingly attractive opportunity for emerging market investors.

March 2015



Following a clearer path in a volatile world (PDF)
Investment returns generated by companies that pay and grow their dividends over time tend to be less volatile than those generated by the wider universe of global stocks. Combine that with an attractive yield and you have a solution that appeals to a broad range of investors. In this Q&A, Ted Samuels, one of World Dividend Growers’ three portfolio managers, elaborates on the strategy’s positioning and its approach to risk management.

March 2015



The Long View: The Future Looks Bright (PDF)
From self-driving cars to breakthrough drugs against cancer, we are on the cusp of a dramatically different world. Companies that are poised to take advantage of these changes may just reap new profits, and provide long-term investors with opportunities that few could have imagined a decade ago.

March 2015



A lower risk approach to emerging market investing (PDF)
Having the flexibility to invest across the complete emerging market investable universe creates the potential for long-term results with lower volatility.

March 2015



The Search for Secure Income (PDF)
At a time when bond yields are low, equity strategies based on dividend payers have obvious appeal.

March 2015



Oil Price Declines Could Have Far-Reaching Effects (PDF)
Many of our analysts and portfolio managers believe that oil prices could remain low until supply-demand imbalances are corrected, which could take some time.

February 2015



Japan: What next? (PDF)
Japan Equity portfolio manager Seung Kwak and investment specialist Akira Fuse examine the recent political and economic developments in Japan alongside the significant changes on the corporate front.

January 2015



Emerging Markets Could See Increased Volatility in the Medium Term (PDF)
Our portfolio manager Shaw Wagener shares his thoughts on prospects for emerging market equities and the themes that he is exploring this year.

January 2015



Falling Oil Prices Present Short- and Long-Term Investment Opportunities (PDF)
With oil prices substantially lower since June, investors are rightly concerned about the resulting impact on energy-related investments. We take a look at the potential implications.

January 2015



2015 Investment Insights: Seek Global Growth and Sustainable Income (PDF)

The list of headwinds around the world is long as we end 2014. Yet, we believe that 2015 will present meaningful opportunities for investors seeking growth and sustainable income.

December 2014



We Remain Cautious on Russia, With a Selective Approach to Investments (PDF)

Russian financial assets have declined following the slide in crude oil. Given the geopolitical risks, we prefer a wait-and-see approach.

December 2014



Europe and Japan Offer Long-Term Growth Opportunities (PDF)

Many of our portfolio managers are finding good value in European and Japanese businesses despite expectations of economic weakness in these parts of the world.

December 2014



Potential Impact of US Interest Rate Rises on the High Yield Bond Market (PDF)

There is currently much discussion as to when and by how much the US Federal Reserve will raise interest rates. Our Global High Income Opportunities portfolio manager David Daigle explains why he believes being shorter duration and moving up the credit rating spectrum will help minimise the potential impact of rate hikes.

December 2014



Reforms Are Sowing the Seeds of Reflation in Japan (PDF)

Our investment professionals explain why they remain hopeful about Japan's economy and stock market, despite weak GDP figures and caution around 'Abenomics'.

November 2014



Divergent Emerging Economies Create Opportunities for Active Bond Investors (PDF)

Portfolio manager and fixed income research director Kirstie Spence shares her thoughts on an eventful year to date in emerging market bond investing and the broadening opportunity set.

November 2014



Interest Rates to Grind Higher as Investors See Fed Moving Later Than Expected (PDF)

Many of our fixed income portfolio managers expect interest rates to move higher in 2015, but perhaps not as fast or as far as some fear.

November 2014



Innovation and Disruption in the Pharmaceutical and Biotech Industries (PDF)

Scientific breakthroughs are yielding revolutionary treatments for many diseases. Our analysts and portfolio managers talk about the compelling investment opportunities that are coming up in the pharmaceutical and biotechnology industries.

October 2014



Putting Market Volatility in Perspective (PDF)

After years of strong equity gains, volatility has returned to the market. Our investment professionals put that volatility into perspective and explain why the long-term secular trends that inform many of our investment decisions remain solidly in place.

October 2014



Japan: Staying the Course (PDF)

Japan Equity portfolio manager Seung Kwak discusses the meaningful changes that are happening in Japan, and why these changes bode well for Japanese stocks over the long term.

August 2014



Failure to Reach Agreement on Restructured Bonds Adds Uncertainty to Argentina Outlook (PDF)

An overdue coupon payment has added uncertainty to the outlook for Argentina’s debt and economy. We share our views on the potential implications.

August 2014



The Long View: Search for Sustainable Income (PDF)

Companies are seeking recurring revenue that translates into sustainable income even in challenging economic environments. Our portfolio managers and analysts share their insights on the razor-and-blade business model, and explain what companies with recurring revenue can bring to an investment portfolio.

August 2014



Can Stocks and Bonds Sustain the Gains Made in the First Half of 2014? (PDF)

Our portfolio manager Tim Armour discusses equity investing, the European economic recovery and pockets of the market where he sees value.

July 2014



A Simple Framework Offers Insight into the Neutral Rate Conundrum (PDF)

What level of interest rate would be consistent with an economy operating at near-full capacity and close-to-target inflation? Our portfolio manager Wesley Phoa develops a framework and draws a few conclusions.

July 2014



Evolving Approaches to Emerging Market Investing (PDF)

The ways to access investment opportunities in the developing world are changing as markets evolve. We look at how investors should re-think their investment strategies.

July 2014



Investment Insights: China at a Crossroads (PDF)

Will recently announced reforms accelerate China's transition to a consumer-led economy, and what are the potential opportunities for investors?  We look at the fallout from the party's recent meetings.

December 2013



The potential for new opportunities in emerging markets (PDF)

Portfolio managers Shaw Wagener and Rob Neithart discuss their outlook for emerging markets following the recent volatility and share where they are finding investment opportunities in equity and fixed income markets.

October 2013



Outlook on currencies (PDF)

Fixed-income portfolio manager Mark Brett discusses the outlook for the world's major currencies, including his views on the possible end of the dollar bear market and Japan's new efforts to weaken the yen.

February 2013



From the fiscal cliff to a spending slope (PDF)

Fixed income portfolio manager Wesley Phoa and tax analyst Elizabeth Mooney examine the impact of the two-month delay in spending cuts, the need for further tax reform, and the impact on markets and the overall economy.

Jan 2013



Q&A with Luis Freitas de Oliveira (PDF)

The ETOP portfolio manager describes the influences that drive his portfolio decisions and gives us his view on the outlook for emerging markets, including China and Brazil.

December 2012



The fiscal cliff and beyond (PDF)

Economist Darrell Spence and fixed income portfolio manager Wesley Phoa take a closer look at the fiscal cliff and its implications for the U.S. economy in the short and long term.

November 2012



Election 2012 and the fiscal cliff (PDF)

Political analysts Michael Thawley and Jeff Brown share their perspectives on the economic and financial implications of the U.S. election results, including their views on the looming fiscal cliff as well as the longer-term debt problems the country faces.

November 2012



At a crossroads: the fate of the eurozone (PDF)

Capital economist Philip Chitty provides a four-point framework through which to gauge the recovery of the eurozone.

July 2012



The value of active management (PDF)

Many investors may feel uncertain of why they're invested in an actively-managed fund. Our recent viewpoints may help provide insight and evidence to answer the question of 'why go active?'

March 2011