In this paper we extend our 2024 analysis by focusing on differentiating macroeconomic productivity gains enabled by AI across countries.

The presentation provides insights into how the current war/energy crisis is exacerbating the already high inflation. The material also details what strategies...

Understanding our key convictions and portfolio implications on inflation trends ahead

The resurgence of Covid-19 cases in some countries is an area for attention, but should not lead to new generalised lockdowns due to vaccinations which...

We thought the banking sector was forever changed by the Global Financial Crisis (GFC): e.g., lower leverage, better risk management, greater transparency,...

The election of President Joe Biden has led to a turn in US government policy. This paper explores income and wealth inequality in the United States and...

As the global economy emerges from its worst slump since the 1930s, we envisage plenty of inflation fertilisers at stake, especially in the United States....

As the global economy emerges from its worst slump since the 1930s, we envisage plenty of inflation fertilisers at stake, especially in the United States....

2019 proved a strong year for US assets, with US equity markets recording the strongest annual total return since 2013 and the US aggregate bond index...

History shows that the economy and financial markets are dominated by long-term regimes that at some point come to a break point, where one regime gives...

After two years of positive performance across the board, with almost no asset class in negative territory, 2018 is marking a change of direction, with...

The robust performance of the US economy in 2018 has led to the supremacy of US risk assets compared to the rest of the world.

It has been 10 years since the collapse of Lehman marked the beginning of the Great Recession, which threw the global economy into its deepest economic...

Long-term investing is about the belief that fundamental value exists and that asset class returns tend to mean revert to their equilibrium level and...

In a market environment characterised by disruptive trends and possible regime shifts, asset managers need to evolve and to enhance their capabilities...