Fund managers discuss where they are finding the most attractively-valued stocks Since Warren Buffett got involved, the world has gone crazy for Japan. The Nikkei is up 23.4% for the year to date (to 10 July 2023). That puts it 8.8%, 11.2% and 25.8% ahead of the S&P 500, Eurostoxx 50 and FTSE 100 respectively.…
Geopolitics has knocked inflation off its top spot in the list of European family-office major concerns, according to new research from UBS. Although recent inflation numbers – and the associated likelihood of interest rates remaining higher for longer – make worrying reading for many investors, new research from UBS shows inflation falling to third place among the…
Estonia has been identified as one of the easiest countries for investors to do business in by the Investment Promotion Report 2023. The report, published by Emerging Europe, picked out several factors for this conclusion, including the nation’s ease with electronic systems and infrastructure. “Estonia stands out as a frontrunner, saving an impressive amount of…
Europe’s largest IPO of 2023 was confirmed this week when Romanian electricity producer Hidroelectrica began trading in Bucharest. The firm’s capitalisation has been pegged at more than €10bn, with its stock rising nearly 11% on the first day of trading. According to Balkan Green Energy News: “After several failed attempts over the past decade, Romania’s…
While the market can famously remain irrational longer than investors can remain solvent, analysis suggests this growth rally is thinly supported Having largely given up on organic intelligence, investors have grown all excited over its artificial offspring. As a result, the (mainly US) stocks linked to AI have raced away from the broad market this…
Corporate bond yields may look superficially attractive but, writes Cherry Reynard, this is a time to identify the strongest credit manager available The high yield market is in an odd position. On the one hand, there are clear and mounting signs of corporate distress – bankruptcies and defaults are rising and many companies are feeling…
Private equity investors are anticipating a good year for the sector in Europe in 2023, followed by a stronger year still in 2024. Half (51%) of the respondents to Coller Capital’s latest Global Private Equity Barometer indicated they expected a stronger outcome for European private equity in 2023, rising to 71% for 2024. This was…
2022 was hailed a year of revival for value strategies, but they have been comprehensively outpaced by growth strategies to date in 2023. The MSCI World Growth index has beaten the MSCI World Value index by around 14% since the start of the year, with weaker commodity markets, economic weakness and the banking crisis all…
Geopolitics and shifting supply chains are changing the landscape for the world’s emerging economies – and those who invest in them Emerging markets were notable beneficiaries of globalisation. Their strength as low-cost manufacturing hubs brought new capital and influence and helped many developing economies kick-start their growth. Against this backdrop, it stands to reason they…
The European Commission (EC) launched its first investor survey this week to gauge opinion on its borrowing activities and status as an issuer. The survey, which can be seen here, has been put together by the EU with the assistance of BofA Securities, Credit Agricole CIB, and HSBC. The EC noted: “The survey – which…
Recent market events add conviction to the argument that favourable entry points are emerging for REITs Late last year, we wrote a report arguing an attractive entry point was emerging for real estate investment trusts (REITs). Recent market developments have added further conviction to this view, with four key factors underscoring our analysis. First, commercial…
Value strategies have been comprehensively outpaced
