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Insights & Thought Leadership

THOUGHT LEADERSHIP

  • Luxury image

    17 October 2018

    Investment Opinions Luxury: Solid trends continue

    Despite escalating geopolitical tensions, GAM Investments’ Scilla Huang Sun reports that luxury sales are continuing to grow robustly and explains why she feels that this is a secular theme which has more to offer to investors.

  • 18 October 2018

    Multi Asset Perspectives Multi Asset Perspectives: Rotation, Pause or Correction?

    Earlier this month the asset allocation committee met to discuss the outlook for markets for the remainder of 2018. A brief summary follows.

  • 19 October 2018

    Market Updates Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 17 October 2018 – this week’s speakers were Michael Biggs, who provided a fascinating insight into the relationship between fiscal stimulus and inflation, and Jeremy Smouha, who discussed the attractive yields currently available in investment grade credit.

  • 15 October 2018

    Regional Why we are not seduced by US equities

    So far this year a significant overweight exposure to US equities would have benefited portfolios. Charles Hepworth outlines why he is now taking a more global view, allocating away from the US, which he views as looking overvalued.

  • 12 October 2018

    Market Updates Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 10 October 2018 – this week’s speakers were Michael Biggs, who talked about the importance of whether interest rate rises are being driven by growth or inflation expectations; Jack Flaherty, who highlighted that downside protection is key in high yield bond portfolios; and Gianmarco Mondani, who rounded up the current opportunities in European long / short equity.

  • 11 October 2018

    Investment Opinions GAM Talks: How are you navigating current market conditions?

    We asked a group of our fund managers a series of questions regarding their respective asset classes. This third and final video considers how our managers are currently navigating emerging market equities, luxury brands, local emerging market debt, Japanese equities and European value equities.

  • 9 October 2018

    Investment Opinions Japan: 29 years after the crash

    GAM Investments’ Carlo Capaul and Ernst Glanzmann analyse how the Japanese equity market has evolved over the last three decades from both technical and fundamental perspectives.

  • 05 October 2018

    Market Updates Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 3 October 2018 – this week’s speaker was Hasan Amjad, who described the growing importance of artificial intelligence and machine learning in systematic trading.

  • 04 October 2018

    Investment Opinions GAM Talks: What are the main risks for your asset class?

    We asked a group of our fund managers a series of questions regarding their respective asset classes. This second video looks at the current risks across European value equities, emerging market equities, luxury brands, Japanese equities and local emerging market debt.

  • 02 October 2018

    Thematic Blockchain: looking past the hype

    There is far more to blockchain than the hype surrounding cryptocurrencies. GAM Investments’ Mark Hawtin, who completed the Oxford University / Saïd Business School Blockchain Strategy Programme earlier this year, believes the underlying technology could be a game changer for the technology space.

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  • 19 October 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 17 October 2018 – this week’s speakers were Michael Biggs, who provided a fascinating insight into the relationship between fiscal stimulus and inflation, and Jeremy Smouha, who discussed the attractive yields currently available in investment grade credit.

  • 12 October 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 10 October 2018 – this week’s speakers were Michael Biggs, who talked about the importance of whether interest rate rises are being driven by growth or inflation expectations; Jack Flaherty, who highlighted that downside protection is key in high yield bond portfolios; and Gianmarco Mondani, who rounded up the current opportunities in European long / short equity.

  • 05 October 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 3 October 2018 – this week’s speaker was Hasan Amjad, who described the growing importance of artificial intelligence and machine learning in systematic trading.

  • 28 September 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 26 September 2018 – this week’s speakers were Michael Biggs, who discussed some of the near-term risks for global growth; Gregoire Mivelaz, who noted the importance of credit quality and income in developed market credit; and Hans Ulrich Jost, who highlighted the appeal of value stocks given the irrational behaviour of the market.

  • 21 September 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 19 September 2018 – this week’s speakers were Larry Hatheway, who discussed the re-emergence of trade frictions and other pertinent factors, Enzo Puntillo, who provided a fascinating insight into the valuation of EM debt securities and Scilla Huang Sun, who commented on the secular growth story unfolding in the luxury segment.

  • 14 September 2018

    Weekly Manager Views

    Please find the notes from GAM Investments’ Weekly Investment Meeting held on 12 September 2018 – this week’s speakers were Larry Hatheway, who discussed global growth and the twin risks to the current benign backdrop, and Adrian Owens, who talked about the opportunities in rates and currencies.

  • Friday, July 27, 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting held on 25 July 2018 – this week’s speaker was Ali Miremadi, who outlined his broad approach to managing global equity portfolios and commented on the prevailing environment.

  • Friday, July 20, 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting on 18 July 2018 – this week’s speaker was Michael Biggs, who explained why he believes the outlook for global growth remains intact and highlighted the risks of an escalation in the trade war.

  • Friday, July 13, 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting on 11 July 2018 – this week’s speaker was Larry Hatheway, who discussed the possible effect of the US imposing further trade tariffs on China and the implications of political manoeuvring in the UK for Brexit and sterling.

  • Friday, July 06, 2018

    Weekly Manager Views

    Please find below the notes from GAM Investments’ Weekly Investment Meeting on 4 July 2018 – this week’s speaker was Michael Biggs, who explained why he believes the outlook for risky assets remains promising and provided an update on emerging market fundamentals.

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  • Larry Hatheway on Markets

    11 September 2018

    Larry Hatheway on Markets - September 2018

    GAM Investments’ Larry Hatheway outlines his latest multi-asset views, discussing what has caused the sharp bifurcation of market performance this year, whether equity markets will be driven by rotation and fresh leadership, and the key risks to markets for the remainder of 2018.

  • Larry Hatheway on Markets

    Thursday, July 26, 2018

    Larry Hatheway on Markets - July 2018

    Group Head of GAM Investment Solutions and Group Chief Economist Larry Hatheway discusses what is currently eroding market performance and investor conviction, how political events in the UK could impact Brexit and sterling, and whether there is still a case for an allocation to risk assets.

  • economic_outlook_icon

    Monday, June 18, 2018

    Larry Hatheway on Markets - June 2018

    Chief economist and head of GAM Investment Solutions Larry Hatheway discusses the risks facing equity markets, whether the US dollar will strengthen from here and what that means for portfolios as well as what we can expect from the Fed over the remainder of this year.

  • economic_outlook_icon

    Wednesday, May 23, 2018

    Larry Hatheway on Markets - May 2018

    Group Head of GAM Investment Solutions and Group Chief Economist, Larry Hatheway, discusses whether markets are likely to remain range-bound for the rest of the year, what factors are behind the change in market sentiment, and if financial conditions and policy settings are still supportive of global growth.

  • economic_outlook_icon

    Friday, April 20, 2018

    Larry Hatheway on Markets - April 2018

    Chief economist and head of GAM Investment Solutions, Larry Hatheway, discusses whether the recent equity market sell offs are indicative of fundamental issues or more sentiment driven and in fact a buying opportunity, if we should be concerned about an escalation in trade wars between the US and China as well as other markets, and whether global growth is peaking.

  • economic_outlook_icon

    Wednesday, March 28, 2018

    Larry Hatheway on Markets - March 2018

    Chief economist and head of GAM Investment Solutions, Larry Hatheway, discusses what happened to the markets in early February, how significant the spectre of US protectionism will be and whether markets should be worried about rising inflation.

  • economic_outlook_icon

    Monday, February 19, 2018

    Larry Hatheway on Markets - February 2018

    Chief economist and head of GAM Investment Solutions, Larry Hatheway, discusses the changing macroeconomic environment, including whether we are reaching the end of the equity bull market, his expectations for inflation and monetary policy and the implications for portfolio construction.

  • economic_outlook_icon

    Friday, January 19, 2018

    Larry Hatheway on Markets - January 2018

    Chief economist and head of GAM Investment Solutions, Larry Hatheway, discusses how long the equity bull market can continue, his expectations for inflation in the year ahead and why the dollar has weakened.

  • economic_outlook_icon

    Thursday, December 07, 2017

    Larry Hatheway on Markets - December 2017

    Chief economist and head of GAM Investment Solutions, Larry Hatheway, discusses the macroeconomic outlook for 2018, including his expectations for global equity and bond markets, monetary policy and the biggest risks to investors in the year ahead.

  • uk-elections-icon

    Wednesday, November 22, 2017

    UK Autumn Budget

    On 22 November, following a particularly animated Prime Minister’s Questions with Jeremy Corbyn and Prime Minister Theresa May, Chancellor Phillip Hammond stood up to deliver his Autumn budget. GAM’s investment director Charles Hepworth highlights the key takeaways.

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  • 02 October 2018

    Blockchain: looking past the hype

    There is far more to blockchain than the hype surrounding cryptocurrencies. GAM Investments’ Mark Hawtin, who completed the Oxford University / Saïd Business School Blockchain Strategy Programme earlier this year, believes the underlying technology could be a game changer for the technology space.

  • 26 September 2018

    The case for mortgage-backed securities

    Mortgage-backed securities (MBS) make up almost a quarter of the US fixed income market; they offer a less volatile source of returns and are seeing increased levels of issuance.

  • Wallstreet image

    21 August 2018

    The disappearance of tangible equity in the US

    There is a strong rationale for considering tangible equity when assessing corporate balance sheets.

  • it-bags-icon

    Wednesday, April 04, 2018

    Millennials driving growth in the luxury sector

    GAM’s luxury brands strategy recently reached its 10-year anniversary. The luxury sector benefits from global wealth creation and in particular from its high exposure to the growing middle class in emerging markets

  • investing_in_catbonds_icon

    Thursday, March 08, 2018

    Insurance Linked Securities: Bridging the Disaster Gap

    Having demonstrated their value following the 2017 hurricane season, the market for insurance-linked securities, including cat bonds, is set to grow substantially this year.

  • future-of-investing-icon

    Tuesday, February 20, 2018

    LSE SU Alternative Investments Conference

    Alexander Friedman, Group CEO of GAM, delivered a keynote speech at the LSE SU Alternative Investments Conference in London on 22 January. He discussed markets, what the current environment means for active investing and the transformative role of technology in asset management.

  • workplace-automation_icon

    Thursday, February 01, 2018

    Opportunities From Workplace Automation

    Rapid advances in technology are seeing increasing levels of workplace automation, which is throwing up some interesting investment opportunities and giving food for thought in terms of the social implications, says Mark Hawtin, investment director, global long short equity.

  • case-for-gains_icon

    Tuesday, January 23, 2018

    EM Debt: The Case For Further Gains

    Despite rallying for two years, the fundamental case for further gains in EM local currency bonds remains strong, says Paul McNamara, investment director for emerging markets fixed income.

  • game-over-icon

    Wednesday, December 06, 2017

    Inflation’s Endgame, Volatility’s Vengeance

    A gradual decline into disorder? GAM’s Christian Gerlach examines the phenomenon of ‘modern growth’ and ponders the potential implications of the destruction of the ‘utopia of the future’ on distorted asset prices.

  • unconstrained_opportunities_icon

    Friday, December 01, 2017

    Unconstrained Opportunities And Cheap Parachutes

    GAM’s Tim Haywood believes an absolute return approach to fixed income could prove ideal against a backdrop of rising interest rates and a reversal of QE

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  • 15 October 2018

    Why we are not seduced by US equities

    So far this year a significant overweight exposure to US equities would have benefited portfolios. Charles Hepworth outlines why he is now taking a more global view, allocating away from the US, which he views as looking overvalued.

  • china-equities-icon

    Tuesday, March 20, 2018

    China: Evolution, Not Revolution

    Jian Shi Cortesi, portfolio manager for China and Asia equity strategies, takes a look at China’s transition to a consumer-driven economy and its significance for the world’s second-largest economy.

  • china-brakes-icon

    Tuesday, February 27, 2018

    China: Gently Applying the Brakes

    He’s a few months into his new term as re-elected president, so how is China’s President Xi Jinping continuing to shape the world’s second-largest economy for the future? Investment director, Michael Lai takes a look.

  • year-of-the-dog-icon

    Thursday, February 15, 2018

    Year of the Dog

    The Chinese New Year begins on 16 February 2018, when we enter the Year of the Dog, which in Chinese astrology symbolises positive traits such as loyalty, honesty and faithfulness. The dog itself is also viewed as a lucky animal by the Chinese. Michael Lai, investment director, considers whether the Year of the Dog will be a good one for investors.

  • rise_rise_em_icon

    Monday, February 12, 2018

    The European Catch-up Trade

    European equities delivered solid returns in 2017. But, as GAM Investments’ Niall Gallagher points out, performance was actually much stronger than it appears at first glance and there could be considerably more to come.

  • japan-sun-icon

    Monday, February 05, 2018

    Japan: The Sun Rises Again

    The Nikkei 225 index, Japan’s most widely quoted barometer of stock market health, has endured many ‘red’ days since peaking at a level above 38,000 points almost three decades ago. However, it is currently enjoying something of a ‘black’ renaissance, having reached a 26-year high in early January. GAM investments’ Ernst Glanzmann and Reiko Mito explain why they believe there could be much further upside to come.

  • china-minsky-icon

    Thursday, January 04, 2018

    China: Averting a Minsky Moment

    Rather than seeing a sudden collapse of asset prices, GAM Investments’ Michael Lai believes that certain areas of the Chinese economy will continue to expand robustly, broadly underpinning the equity market.

  • japan-election-icon

    Thursday, September 28, 2017

    Snap Election in Japan: An Investor’s View

    On Monday Prime Minister Shinzo Abe announced his plans to dissolve the lower house of Japan’s parliament on 28 September and to call a snap election in October. What will be the impact for markets against the backdrop of encouraging fundamentals but prevailing tensions with North Korea?

  • david-and-goliath-icon

    Thursday, July 13, 2017

    The David and Goliath Aspects of China’s A-share Market

    Tim Love, investment director for emerging market equities, considers the significance of the inclusion of China A-shares in the MSCI Emerging Markets index.

  • em-why_now_icon

    Thursday, May 11, 2017

    EM – Why Now?

    Tim Love, investment director at GAM, discusses the outlook for emerging market equities in 2017 and analyses where the best opportunities are likely to lie in a turbulent political landscape.

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  • Luxury image

    17 October 2018

    Luxury: Solid trends continue

    Despite escalating geopolitical tensions, GAM Investments’ Scilla Huang Sun reports that luxury sales are continuing to grow robustly and explains why she feels that this is a secular theme which has more to offer to investors.

  • 11 October 2018

    GAM Talks: How are you navigating current market conditions?

    We asked a group of our fund managers a series of questions regarding their respective asset classes. This third and final video considers how our managers are currently navigating emerging market equities, luxury brands, local emerging market debt, Japanese equities and European value equities.

  • 9 October 2018

    Japan: 29 years after the crash

    GAM Investments’ Carlo Capaul and Ernst Glanzmann analyse how the Japanese equity market has evolved over the last three decades from both technical and fundamental perspectives.

  • 04 October 2018

    GAM Talks: What are the main risks for your asset class?

    We asked a group of our fund managers a series of questions regarding their respective asset classes. This second video looks at the current risks across European value equities, emerging market equities, luxury brands, Japanese equities and local emerging market debt.

  • 27 September 2018

    GAM Talks: Why should investors consider your asset class?

    We asked a group of our fund managers a series of questions regarding their respective asset classes. This first video, in a series of three, considers their current outlook and why investors should consider their asset class.

  • 25 September 2018

    Central bank communication: The perils of clarity

    With the Federal Reserve expected to raise US interest rates again at its latest meeting, GAM Investments’ Larry Hatheway considers whether US monetary policy is now approaching the neutral zone and whether this might impact the transparency of the central bank’s forward guidance going forward.

  • 19 September 2018

    Looking for value in high income credit

    Additional Tier 1 (AT1) debt has lost ground versus European High Yield (EHY) debt so far in 2018, with spread differentials currently exceeding 50 bps. The team at Atlanticomnium explain that this not only raises questions about the drivers behind the underperformance of bank AT1s, but also considerations about how risky they are compared to EHY debt.

  • 13 September 2018

    EM: Sound fundamentals meet short-term pressures

    Emerging market local currency bonds have had a difficult year so far. Yet, despite a series of headwinds including political risk, US tariffs and sanctions, GAM Investments’ Mike Biggs believes the outlook is positive due to sound economic fundamentals.

  • 6 September 2018

    The outlook for Argentina

    Michael Biggs, Investment Manager, Emerging Markets Fixed Income, takes a look at the macroeconomic challenges currently faced by Argentina, what policymakers are doing to address them and why the medium-term outlook for the country looks positive.

  • 4 September 2018

    EM equity: Is the glass half full?

    With emerging market (EM) equities, in aggregate, falling 20% in US dollar terms between the January 2018 peak and late August lows, GAM Investments’ Tim Love, believes this price action may potentially provide an attractive entry point for investors.

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  • Friday, August 10, 2018

    Fund Manager Portrait: Reiko Mito

    Reiko has been managing Japanese equity portfolios for 18 years and, since joining GAM, has become an integral component of our settled Japan equity team, which has established an attractive track record. So, what’s their secret?

  • Thursday, July 05, 2018

    Fund Manager Portrait: Massoud Mussavian

    Having managed teams comprising as many as 25 people prior to 2008, Dr Massoud Mussavian is relishing the more hands on role of leading the research effort for GAM Systematic equity strategies. But what does his job involve?

  • Tuesday, March 06, 2018

    Fund Manager Portrait – Roberto Bottoli

    "In the prevailing environment, investors are finding fewer and fewer sources of meaningful yield with low volatility from the fixed income universe."

  • Tuesday, January 30, 2018

    Fund Manager Portrait – Ernst Glanzmann

    After years of false dawns and ‘dead cat bounces’, Japanese equities surged to a 26-year high in early January. So, what better time to gain some valuable insights from a veteran who has watched events unfold both in Japan and from afar?

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