Paul Hennessy

What a difference a year makes. 2018 began with synchronized global growth and a tax cut boost for the U.S. stockmarket, but it finished with an increasing focus on geopolitical tensions and plunging asset prices. Show More

Paul Hennessy

Business as usual? Not quite. Hike number nine was, at first glance, business as usual for the U.S. Federal Reserve. The target federal funds rate range now stands at 2.25%–2.5%, following the widely expected move to raise rates by a quarter percentage point on December 19. Show More

Paul Hennessy

As a wave of mergers and acquisitions has swept the business world in recent years, more industries have come to be dominated by just a few massive companies. In many sectors, competitors have joined forces to build scale and drive innovation amid mature growth. Show More

Paul Hennessy

Global trade tensions are on the rise. And while much of the attention has centered on a series of retaliatory tariffs between the United States and China, trade disputes with European and North American allies also have strained traditionally friendly relationships. Show More

Paul Hennessy

The recent uptick in global market volatility has been driven by fears about price pressures and inflation. My colleague, investment director Andy Budden, answers questions about the inflation outlook and reflects on its implications for different asset classes. Show More

Paul Hennessy

My colleague, Wesley Phoa, argues that “the key to successful active management in periods of elevated uncertainty is not to stake everything on single-point forecasts. Rather, it is the ability to apply detailed policy analysis to a range of scenarios, and to maintain enough portfolio flexibility to respond rapidly and... Show More

Paul Hennessy

Ten years ago, nearly 5,400 US-domiciled mutual funds were available to investors. Today only around 36% of them are still in existence, according to Morningstar data. The chances of long-term investors picking funds that are later merged or closed are fairly high. Show More

Paul Hennessy

China’s internet companies are developing cutting-edge mobile applications and leapfrogging the titans of U.S. technology in certain respects. China is no longer simply a tech copycat: Tencent, Alibaba and Baidu are playing a leading role in China’s shift to a consumption-led economy. Capital Group expects increasing amounts of mobile innovation... Show More

Paul Hennessy

There has been a rapid shift in the makeup of global business, beyond the traditional giants. A host of new global companies – such as Google, Apple and Amazon - is rapidly emerging, often with a unique solution to a global problem. Global equity investors need to be mindful that... Show More

Paul Hennessy

Climate change has financial implications that are too big to ignore. Companies that do not anticipate regulatory developments may be at risk of a higher cost of capital, more expensive regulation or redundant assets. At Capital Group, we recognise that corporate decisions have the potential to cause harm to people... Show More

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