Two of the world’s largest economies are going head-to-head and investors are fretting. Will the United States and China make a deal? Will tensions ensue and tariffs be raised? What will happen to markets? The stakes are high and with the G20 only a day away, it seems we are... Show More
There are 125 million people joining the Chinese middle class every year, and this supports long term investment opportunities. Adrian Warner, Managing Director and CIO of Avenir Capital discusses one of these when we asked him to share one of his most compelling investment ideas. Show More
In 2017, emerging markets delivered some of their best returns since 2009. However, a series of headwinds – which include a stronger US dollar, lower liquidity due to rising US rates, China’s attempts at deleveraging, and uncertainty surrounding trade – have now hit. This has meant some of those gains... Show More
Asia is the best structural growth story in the world driven by strong demographics, a rising middle class, infrastructure build and technological leapfrogging. We believe that the combination of high growth and reasonable prices offer a compelling opportunity. Show More
Sometimes it seems like there’s nowhere to hide. Equity investors were smacked in the face over the month of October, with waves of selling hitting sharemarkets from Sydney to Shanghai and London to New York. Something like $7 trillion was wiped off the value of global sharemarkets. Tighter financial conditions,... Show More
2018 was another eventful year for markets around the world, but what lies in store for the next 12 months for investors? Andrew Milligan, Head of Global Strategy, outlines Aberdeen Standard Investments’ 2019 global markets outlook. Here are five key takeaways. Show More
There was much fanfare on the 22nd May 1994 when millionaire Japanese dentist Akihiro Kabe and co-driver Takeshi Okano approached the start of Australia’s inaugural Cannonball run in a $750,000 Ferrari F40. At the time the most expensive new Ferrari in the world, it was about to tackle Darwin to... Show More
The performance of Shanghai Composite Index is lagging the US market by a massive 30% so far this year. Mary Manning says this divergence is extreme when compared to the ‘economic reality’ of the trade tariffs. She describes two scenarios both of which she believes would provide a positive catalyst... Show More
On my last trip to China, we were a little cautious despite the optimism displayed by China’s primary industries — a flow on from the stimulus-led recovery of 2016. Our caution proved warranted. Money supply tightened and key macro indicators weakened, which hit bulks in particular. This time around there... Show More
All major value equity indices show that the last five years, and in particular the last 12 months, have been a challenge for value as a style. If we look at any relative valuations or relative performance between value and growth in Australia, globally or the US, we see that... Show More
Food Revolution Group (FOD), trading at 9.5c, the producer of all-Australian juices, fibres and “infused fruits” is getting serious about China, having entered a distribution deal with Daigou channel Health More. Show More
What would you nominate as the most under-appreciated risk in the market today? There seems to have been an endless carousel of macro ‘bogeymen’, yet markets keep inching higher. So which risks really matter, and which ones have investors overlooked? Show More
So far, 2018 has been a difficult year for emerging market (EM) assets, which in the last few months have fared significantly worse than their counterparts in developed markets. This has been due mainly to worldwide issues but also country-specific political uncertainty. Many investors are now asking if the sell-off... Show More
Ah currencies. Just how important are they? Many pretend to understand, but are quickly confused. Even US presidents. I particularly like this exchange between President Nixon and his Chief of Staff, Haldeman: Show More
When it comes to Australia, our view within the equities team is one of cautious optimism. What many investors don’t know is that Australia’s economy is heavily reliant on China. In fact, we believe the country’s dependence on China as a trading partner and as a major influence on commodity... Show More
In many countries around the world, July is a month of temporary migration among the populace. On the one hand, offices are quieter, and the roads less congested. On the other hand, railway stations and airports are thronged with people. Yes, the holiday season has begun! Show More
Over the past few weeks, you may have noticed President Trump’s rhetoric has centred around trade and resulted in the escalation of tensions between the US and other economic powers of the world. Many investors are wondering what downside risk they might be exposed to and whether a recession is... Show More
We have passed the sweet spot in this business cycle, where easy monetary conditions and synchronised growth pushed share markets higher. We are transitioning into a more challenging phase, as China and Emerging Markets (EM) decouple and we are left with a US economy at risk of overheating. Show More
From my initial visits to China in the early part of last decade, one element which stood out was the sheer scale of the industrial economy and the implications which a market of that size had on domestic manufacturing and industrial companies. In the construction equipment sector in 2005 it... Show More
Once upon a time it was said that all roads lead to Rome but today it’s probably more suitable to say they lead to China, both figuratively and literally. The last decade in China has witnessed a meaningful transformation from fixed asset investment towards consumption. Prior to 2008, the economy... Show More