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 the companies that are most likely to flourish going forward are those that have a high speed of product adoption while still retaining marketing muscle and global distribution networks. What we’ve observed is that the more idea-driven companies, especially in the technology and healthcare sectors, are showing greater profit margins. The opportunities for these companies to continue to grow rapidly are real and meaningful. Developing economies are also becoming a formidable force in this fundamental shift in the make-up of global companies. Multinationals have found success developing products in emerging markets. Capital Group’s New Perspective Fund (NPF) was introduced to Australian investors in March 2016 and is focused on established and early-stage multinationals. The attached insight delves further into the shift of global companies to idea-driven companies.