Tariff announcements from the US and retaliations from China have splashed across the headlines. While these events are noteworthy, we believe investors should keep them in perspective. None of the proposed tariffs have actually taken hold, nor are they likely to do so before June. We remain positive on global growth, yet we are alert to the possibility of second order effects … [Read more...] about What the sound and fury of trade rhetoric signifies for investors
Over the last few years, competition has increased in the asset management industry, fees have been under pressure and performance among active managers has, in aggregate, been disappointing. However, there have been structural, cultural and cyclical factors at play that are likely to reverse. From structural headwind to tailwind Structural abnormalities at the market level … [Read more...] about Time to get Active!
The debate over active versus passive appears to be still alive; 2017 saw a better year for active managers according to the latest SPIVA performance scorecard , though this comes against a backdrop of severe underperformance over both 5 and 15 year periods. In the latter instance, 92.33% of Large Cap, 94.8% of Mid-Cap and 95.7% of Small Cap fund managers managed to miss … [Read more...] about Why we don’t get Active
Rising interest rates and tighter monetary policies are firmly on the agenda globally. The US Federal Reserve in particular has been paving the path for hiking interest rates and many investors expect at least three further rate hikes this year. In the UK, the Bank of England raised its interest rates for the first time in a decade back in November. In other parts of the … [Read more...] about How rising interest rates affect returns from non-government bonds
The soaring scale, wealth and influence of the internet giants have led to growing scrutiny from society and regulators. Could their wings finally be clipped? In recent months it has felt like the tide is turning against big tech. Google has been fined for market abuse in the EU. Silicon Valley heads have been hauled in front of the US Senate and the UK Parliament to answer … [Read more...] about The “Big Tech” backlash: How sustainable are Google, Facebook and Amazon?