Featured Insights


Chart of the Week

STOCK VALUATION: THE UPSIDE OF THE DOWNDRAFT

Source: Bloomberg, October 12, 2018. *Forward P/E values are based on Bloomberg Estimates Earnings Per Share. Past performance is no guarantee of future results. Indexes are unmanaged, and not available for direct investment. Index returns do not include fees or sales charges. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment.

Market Snapshot

Today's challenge: Markets vs. economics

Last week's markets left investors looking to economics for clues; Italy faced up to the EU; China's trade surplus ballooned


Featured Insights

Investment Insights
Sep 07
Investment Insights

Navigating Emerging Markets

Mexico's New Deal

September 07, 2018

Only a few months ago, NAFTA (the North American Free Trade Agreement) looked dead in the water. The US seemed hell-bent on walking away from the 24-year-old deal, while Canada and Mexico were unwilling to concede any ground.

Investment Insights
Aug 23
Investment Insights

The Greater Fool Theory

August 23, 2018

After the longest US bull market in history, some caution should be taken on valuations.

Investment Insights
Aug 22
Investment Insights

Why Turkey Is Not An EM Portent

August 22, 2018

Trade is the topic du jour, with Washington having set off an apparent chain reaction in its push to extract concessions from trading partners, whether it be China, its North American Free Trade Agreement peers, the EU, or more lately – Turkey.

Investment Insights
Aug 14
Investment Insights

How Material Are ESG Ratings?

August 14, 2018

Blind reliance on companies' environmental, social and governance (ESG) ratings is problematic for investors. Individual companies can receive different scores depending on the ratings provider, while some companies can look better than others simply because they have more resources devoted to reporting.

Investment Insights
Jul 30
Investment Insights

Global Equity Income

US Labour Market: As Tight As It Gets

July 30, 2018

Anemic wage growth in the US has been a central concern of economists in recent years, in no small measure due to its dampening effect on consumption. However, fast forward to the summer of 2018 and the situation is changing rapidly, driven by the tightening labour market.

Investment Insights
Jul 20
Investment Insights

Emerging Markets

What AMLO Means For Mexico

July 20, 2018

Left-leaning Andres Manuel López Obrador (also known as AMLO) won the Mexican presidential election with 53.7% of the country’s vote – with his party, Morena, and its coalition partners together securing a majority of seats in the congress.

Investment Insights
Jul 04
Investment Insights

Japanese equities

Kaizen for corporate governance

July 04, 2018

For a very long time, diversity has been the elephant in the boardroom as far as Japanese businesses are concerned -- but new national recommendations for corporate governance may be a catalyst for change.

Investment Insights
Jul 03
Investment Insights

Do Emerging Markets Have a U.S. Dollar Problem?

July 03, 2018

There is a widely held belief that emerging markets (EM) are vulnerable to U.S. dollar strength. We're not convinced.

Investment Insights
Jun 28
Investment Insights

The EM trends that matter

June 28, 2018

Many investors have historically been hesitant to invest in emerging markets, concerned about currency volatility, political instability and an over-reliance on commodities. Yet this view is increasingly outdated as the sector evolves and becomes more resilient.

Investment Insights
Jun 15
Investment Insights

India's mobile revolution

Give Me A Smartphone, And I Shall Move The World

June 15, 2018

The rate of tech adoption in India is fundamentally changing the economic landscape -- primarily enabled by the increasing use of smartphones, which have seen phenomenal growth thanks to low-cost handsets and cheap data.

Investment Insights
Jun 14
Investment Insights

Above the Noise

Pricing Pressure on Pharma

June 14, 2018

Healthcare is frequently at the heart of political debate in the US. So, with mid-term elections on the horizon in the US, it is no surprise to see political rhetoric on the issue of drug pricing intensifying.

Investment Insights
Jun 01
Investment Insights

The NAFTA Morass

June 01, 2018

The North American Free Trade Agreement (NAFTA) renegotiation sought by President Trump is at risk – Canada, Mexico and the U.S. are still far apart on six key issues.

Investment Insights
May 25
Investment Insights

Key Themes from Proxy Season

Reading The Runes

May 25, 2018

With proxy voting season under way across most markets, it is worth taking a look at the most prominent themes emerging from annual general meetings (AGMs), many of which are highly relevant from a stewardship perspective.

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