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Insights & Thought Leadership

THOUGHT LEADERSHIP

  • Equity Income image

    Tuesday, April 24, 2018

    Investment Opinions Equity Income: A source of added value

    Five years have passed since the launch of GAM’s global equity income strategy. While half a decade is not a particularly long period of time, it nevertheless represents an opportunity to discuss the viability of the investment case in light of the current investment conditions. Do global equity income strategies (ie investments in companies with above average shareholder yields - through dividends and/or share buy-backs - financed by reasonably good business models) make sense in general? Or is it simply the case that they have benefited from falling bond yields and a reversal in this secular trend will spoil the party?

  • economic_outlook_icon

    Friday, April 20, 2018

    Macroeconomics 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.

  • insights

    Monday, April 16, 2018

    Investment Opinions What's happening in Russia

    With global equity markets slumping before staging a v-shaped recovery on the run up to the Easter holiday period, GAM’s investment experts give their view on the likelihood, and potential implications of, a US-inspired trade war.

  • multi-asset-perspectives-social

    Tuesday, April 10, 2018

    Multi Asset Perspectives Multi Asset Perspectives - Buying time

    Buying time

  • Trade war icon

    Monday, April 09, 2018

    Investment Opinions Navigating a potential trade war

    With global equity markets slumping before staging a v-shaped recovery on the run up to the Easter holiday period, GAM’s investment experts give their view on the likelihood, and potential implications of, a US-inspired trade war.

  • market volatility icon

    Friday, April 06, 2018

    Investment Opinions The Post-New Normal Era

    As featured in Bloomberg Prophets, GAM’s Larry Hatheway believes that higher US wage inflation is leading market participants to doubt that the Fed can remain committed to "gradual normalisation."

  • it-bags-icon

    Wednesday, April 04, 2018

    Thematic 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

  • economic_outlook_icon

    Wednesday, March 28, 2018

    Macroeconomics 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.

  • china-equities-icon

    Tuesday, March 20, 2018

    Regional 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.

  • em-why_now_icon

    Thursday, March 15, 2018

    Investment Opinions German Equities – Consistent Rewards for Patient Investors

    The sudden return of sharp bouts of equity market volatility at the beginning of February 2018 served once more as a reminder to investors that there is never room for complacency in capital markets. The strong returns made in January 2018 evaporated within a short period of time. Oliver Maslowski, fund manager at GAM, on the merits of longer investment horizons, based on the German stock market’s example.

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  • 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.

  • economic_outlook_icon

    Thursday, November 09, 2017

    Larry Hatheway on Markets - November 2017

    Chief economist and Head of GAM Investment Solutions, Larry Hatheway, discusses the current global macro environment, the biggest risks to investors in the remainder of 2017 and the impact of political uncertainty on markets.

  • economic_outlook_icon

    Wednesday, October 25, 2017

    Larry Hatheway on Markets - October 2017

    Chief economist and Head of GAM Investment Solutions, Larry Hatheway, discusses the current global macro picture, the on-going Q3 earnings season and the effect of the expected tapering by central banks on the markets.

  • 60-40-hitting-the-target_icon

    Tuesday, October 17, 2017

    Outlook: Hitting the Target

    Although not ‘all weather’, the standard asset allocation approach has served investors well. However, it is time for a rethink: the 60-40 model of a balanced portfolio of stocks and bonds no longer looks fit for purpose. GAM’s Head of Investment Solutions and Chief Economist Larry Hatheway explains why.

  • economic_outlook_icon

    Wednesday, September 27, 2017

    Larry Hatheway on Markets - September 2017

    Chief economist and Head of GAM Investment Solutions, Larry Hatheway, discusses the outlook for global equity and bond markets, his expectations for monetary policy and the biggest risks to investors in the next quarter.

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  • 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

  • pearl-diving-icon

    Tuesday, November 21, 2017

    Diving For Pearls − China Bond Connect

    Making the connection: GAM’s Amy Kam outlines the potential of China’s bond markets for foreign investors.

  • china-blue-chip_icon

    Friday, November 17, 2017

    China: The Blue Chip Comeback

    Three years on from the launch of the Shanghai stock connect programme, which allows investors outside China to access locally listed shares, we asked GAM’s Jian Shi Cortesi what the impact has been on her strategy.

  • india-untapped-icon

    Tuesday, November 07, 2017

    India: Idiosyncratic and Untapped

    Tim Love, investment director for emerging market equities at GAM, explores the major growth opportunities in India, such as weddings, luxury travel and Bollywood, and the equity market’s untapped potential at a time when China growth is showing signs of slowing.

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  • 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’s 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’s 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’s 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.

  • rise_rise_em_icon

    Tuesday, January 24, 2017

    Emerging Markets: Another Year, Another Opportunity

    Paul McNamara, investment director responsible for GAM’s emerging market strategies, looks ahead to 2017 and reflects that the likely drivers of EM local currency bond markets are the same ones that led to overall outperformance last year.

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  • Equity Income image

    Tuesday, April 24, 2018

    Equity Income: A source of added value

    Five years have passed since the launch of GAM’s global equity income strategy. While half a decade is not a particularly long period of time, it nevertheless represents an opportunity to discuss the viability of the investment case in light of the current investment conditions. Do global equity income strategies (ie investments in companies with above average shareholder yields - through dividends and/or share buy-backs - financed by reasonably good business models) make sense in general? Or is it simply the case that they have benefited from falling bond yields and a reversal in this secular trend will spoil the party?

  • insights

    Monday, April 16, 2018

    What's happening in Russia

    With global equity markets slumping before staging a v-shaped recovery on the run up to the Easter holiday period, GAM’s investment experts give their view on the likelihood, and potential implications of, a US-inspired trade war.

  • Trade war icon

    Monday, April 09, 2018

    Navigating a potential trade war

    With global equity markets slumping before staging a v-shaped recovery on the run up to the Easter holiday period, GAM’s investment experts give their view on the likelihood, and potential implications of, a US-inspired trade war.

  • market volatility icon

    Friday, April 06, 2018

    The Post-New Normal Era

    As featured in Bloomberg Prophets, GAM’s Larry Hatheway believes that higher US wage inflation is leading market participants to doubt that the Fed can remain committed to "gradual normalisation."

  • em-why_now_icon

    Thursday, March 15, 2018

    German Equities – Consistent Rewards for Patient Investors

    The sudden return of sharp bouts of equity market volatility at the beginning of February 2018 served once more as a reminder to investors that there is never room for complacency in capital markets. The strong returns made in January 2018 evaporated within a short period of time. Oliver Maslowski, fund manager at GAM, on the merits of longer investment horizons, based on the German stock market’s example.

  • em_debt_icon

    Tuesday, March 13, 2018

    EM Debt: Beyond Asset Allocation

    Investing in emerging market debt should be all about value and selection, rather than trying to forecast the direction of the US dollar or movements in Treasury yields says GAM’s Enzo Puntillo.

  • em-centre-stage-icon

    Friday, February 23, 2018

    Can Emerging Markets Take Centre Stage?

    Emerging markets have weathered many a storm, including significant political turbulence over the last few years. But, following early February’s volatility surge, can they continue to rally? GAM’s Tim Love takes a look.

  • 8-reasons-to-fear-icon

    Wednesday, February 14, 2018

    Eight Reasons to Be Fearful for the Bond Market

    Traditional fixed income markets face a number of challenges over the coming year. Tim Haywood, investment director, highlights eight reasons to be fearful for the bond market and how absolute return strategies can exploit these conditions.

  • tighter_monetary_policy_icon

    Friday, February 09, 2018

    Time to Get Active: A Cyclical View

    GAM’s Matthew Beesley explores the historic dynamic between the outperformance of active versus passive funds and discovers that it demonstrates deeply cyclical tendencies.

  • volatility_icon

    Wednesday, February 07, 2018

    Return to Volatility

    GAM’s investment experts react to market moves this week that have marked a return of volatility after an unusual period of calm.

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  • Thursday, April 12, 2018

    GAM's Julian Howard: the worried well

    The ‘worried well’ constitutes an established medical phenomena of patients who present to medical professionals with symptoms which – upon investigation – yield no underlying morbidity.

  • Thursday, April 12, 2018

    Higher Rates Good For Active Managers

    Anthony Lawler, Co-Head of GAM Systematic, joined David Ingles and Doug Krizner to discuss the effect of volatility and political risk on hedge funds (Source: Bloomberg)

  • Monday, April 09, 2018

    Legislation for online regulation can take years

    Julian Howard, head of multi-asset solutions at GAM, discusses the priorities in regulation of online and social media platforms in the U.S. (Source: CNBC)

  • Thursday, April 05, 2018

    Italian state lender CDP to take 5% stake in Telecom Italia: Report

    Ali Miremadi, investment director for global equities at GAM, speaks about management of Telecom Italia (Source: CNBC)

  • Friday, March 02, 2018

    Trump tariffs hurt both the US and global economy, investment...

    GAM’s Ali Miremadi says its difficult to see how President Trump’s tariffs on steel and aluminum imports do anything other than hurt the global economy. (Source: CNBC)

  • Tuesday, February 27, 2018

    Haywood: Brexit All Consuming, U.K. Snap Election Not Likely

    Conservative and Labour positions on Brexit are not dramatically different, but they are a long way from what the EU wants, according to Tim Haywood, Investment Director at GAM. (Source: Bloomberg)

  • Tuesday, February 27, 2018

    GAM’s Tim Haywood Does Not Think the U.S. Is Overheating Yet

    Tim Haywood, investment director at GAM, discusses the outlook for markets and if the U.S. economy is overheated. (Source: Bloomberg)

  • Thursday, February 15, 2018

    Welcome to the Post-New Normal Era in Markets

    With higher U.S. wage inflation, market participants will begin to doubt the Fed can remain committed to "gradual normalization." From Larry Hatheway, Head of Investment Solutions and Group Chief Economist at GAM. (Source: Bloomberg)

  • Tuesday, January 30, 2018

    What I Learned at Davos

    Davos man must change. But that cannot mean rejecting the core commitment to the view that human ingenuity, fostered by open societies and rewarded by markets, remains the sturdiest foundation for the advancement of humankind. From Larry Hatheway, Head of Investment Solutions and Group Chief Economist at GAM. (Source: Project Syndicate)

  • Monday, January 22, 2018

    Trump's First Year Echoes Obama's Record on the Economy

    The two presidents are in a dead heat in terms of gross domestic product and real consumer spending, says Larry Hatheway, group head of Investment Solutions and group chief economist at GAM. (Source: Bloomberg)

  • manager-profile-icon

    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."

  • manager-profile-icon

    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?

  • manager-profile-icon

    Wednesday, October 11, 2017

    Fund Manager Portrait – Tim Haywood

    Meet Tim Haywood, Investment Director at GAM and business unit head for fixed income, responsible for the absolute return bond family of funds as well as various long only fixed income mandates.

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