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Insights & Thought Leadership

  • Larry Hatheway on Markets - April 2017

    28 April 2017

    Macroeconomics Larry Hatheway on Markets - April 2017

    GAM Chief Economist and Head of Investment Solutions Larry Hatheway comments on the outlook for global fixed income and equity markets.

  • All Eyes on the UK

    25 April 2017

    All Eyes on the UK

    Following the triggering of Article 50 and confirmation of the snap election on 8 June, the UK’s political journey is being closely monitored and greatly speculated upon by market participants around the world. GAM Investment Director Tim Haywood comments on why his home market has also become his favourite short.

  • The Remote But Real Risk in European Equity Markets

    21 April 2017

    Investment opinions The Remote But Real Risk in European Equity Markets

    Political risk is very much back on the agenda and even seemingly remote out comes cannot be discounted. While Gianmarco Mondani, Roberto Cantaluppi and Paolo Longinotti are wary of potential turbulence, they are also optimistic about the return to the market of differentiation at the stock level.

  • Cheer or Fear? The European Investment Dilemma

    19 April 2017

    Investment opinions Cheer or Fear? The European Investment Dilemma

    Europe’s election calendar reads like a political minefield, with prospects appearing all the more bleak with the French elections throwing up the possibility of a break-up of the euro zone and the European Union. Julian Howard, head of Multi Asset Solutions, considers the dilemma this presents for investors, particularly in light of an improving economic and earnings picture for both France and Europe.

  • China: An Under-researched Market

    13 April 2017

    Thematic China: An Under-researched Market

    Jian Shi Cortesi, who has been managing a consumer-focused China equity strategy for more than three years, provides an overview of the prevailing stock-picking environment.

  • A Game You ‘Probably’ Can't Lose

    11 April 2017

    Investment opinions A Game You ‘Probably’ Can't Lose

    GAM Systematic’s Dr Ewan Kirk and Dr Tom Gillam pay a short visit to a world of odds-based binary bets and apply their findings to a more familiar financial landscape.

  • Pair Trades to Pare Risk

    6 April 2017

    Investment opinions Pair Trades to Pare Risk

    In recent years, accessing the cheap beta of equity markets has been one of the best ways to invest. However, with dispersion becoming increasingly evident and potential political storm clouds gathering on the horizon, GAM portfolio managers Andy Kastner and Désirée Mueller ponder whether it might be a good time to reconsider a market neutral approach to investing in European equities.

  • Argentina – Expecting Entry Points to Materialise

    4 April 2017

    Investment opinions Argentina – Expecting Entry Points to Materialise

    Argentina’s economic history is complex and unfortunate, characterised by booms and dramatic busts in recent decades. Tim Love, Investment Director for emerging market equities, discusses why Argentinian equities will soon present a buying opportunity.

  • Beware a Receding Tide

    30 March 2017

    Investment opinions Beware a Receding Tide

    As featured in Investment Week, Niall Gallagher, Investment Director for European equities at GAM, considers the outlook for European markets.

  • Alternative Risk Premia Are Here to Stay

    28 March 2017

    Thematic Alternative Risk Premia Are Here to Stay

    A Q&A with Lars Jaeger, pioneer of alternative risk premia strategies. Together with his GAM Systematic team, he manages the strategy that invests in risk premia and celebrates the strategy’s five-year anniversary in March.


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  • Larry Hatheway on Markets - April 2017

    28 April 2017

    Larry Hatheway on Markets - April 2017

    GAM Chief Economist and Head of Investment Solutions Larry Hatheway comments on the outlook for global fixed income and equity markets.

  • Larry Hatheway on Markets - March 2017

    27 March 2017

    Larry Hatheway on Markets - March 2017

    GAM Chief Economist and Head of Investment Solutions Larry Hatheway comments on the outlook for global fixed income and equity markets.

  • Larry Hatheway on Markets - February 2017

    23 February 2017

    Larry Hatheway on Markets - February 2017

    GAM Chief Economist and Head of Investment Solutions Larry Hatheway comments on the outlook for global fixed income and equity markets.

  • Larry Hatheway on Markets - January 2017

    31 January 2017

    Larry Hatheway on Markets - January 2017

    GAM Chief Economist and Head of Investment Solutions Larry Hatheway comments on the outlook for global fixed income and equity markets.

  • Larry Hatheway on Markets - December 2016

    14 December 2016

    Larry Hatheway on Markets - December 2016

    GAM Chief Economist and Head of Investment Solutions Larry Hatheway comments on the outlook for global fixed income and equity markets.

  • Larry Hatheway on Markets - November 2016

    17 November 2016

    Larry Hatheway on Markets - November 2016

    GAM Chief Economist and Head of Investment Solutions Larry Hatheway comments on the outlook for global fixed income and equity markets.

  • Macro and asset allocation after trump

    9 November 2016

    Macro and asset allocation after trump

    A first reaction from Larry Hatheway, Chief Economist and Head of Multi Asset Portfolio Solutions, on the implication of the US election result for investors.

  • Larry Hatheway on Markets - October 2016

    21 October 2016

    Larry Hatheway on Markets - October 2016

    GAM Chief Economist and Head of Multi Asset Portfolio Solutions Larry Hatheway comments on the outlook for global fixed income and equity markets.

  • All Hail King Carry

    18 October 2016

    All Hail King Carry

    Following the death of the 60:40 portfolio, carry is creeping in as a fresh return-generation focus. Julian Howard, Investment Director, examines harnessing carry without relying on traditional fixed income securities.

  • Negative Yielding Corporate Bonds: Irrational?

    29 September 2016

    Negative Yielding Corporate Bonds: Irrational?

    The world of negative interest rates reached new levels earlier this month when the first negative yielding euro corporate bonds were sold. Enzo Puntillo, head of fixed income at GAM, considers the significance of this for investors.


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  • China: An Under-researched Market

    13 April 2017

    China: An Under-researched Market

    Jian Shi Cortesi, who has been managing a consumer-focused China equity strategy for more than three years, provides an overview of the prevailing stock-picking environment.

  • Alternative Risk Premia Are Here to Stay

    28 March 2017

    Alternative Risk Premia Are Here to Stay

    A Q&A with Lars Jaeger, pioneer of alternative risk premia strategies. Together with his GAM Systematic team, he manages the strategy that invests in risk premia and celebrates the strategy’s five-year anniversary in March.

  • Japan - Taking the Best out of an Underappreciated Market

    24 March 2017

    Japan - Taking the Best out of an Underappreciated Market

    A Q&A with Ernst Glanzmann, Head of Japan, and Reiko Mito, portfolio manager. Together they manage a Japanese equity strategy which celebrates its 25-year anniversary in March.

  • Emerging Market Debt – Plenty of Upside Left

    23 March 2017

    Emerging Market Debt – Plenty of Upside Left

    A Q&A with Enzo Puntillo, Head of Fixed Income at GAM in Zurich. Together with his team, he manages various emerging market debt portfolios. The unconstrained “best ideas” strategy just marked its three-year anniversary.

  • Oil Supply Falling Behind Demand

    16 March 2017

    Oil Supply Falling Behind Demand

    The International Energy Agency last week highlighted growing risks to the oil supply as a result of underinvestment. Robert Cominotto, investment director for energy equities at GAM, considers the possible implications for the global oil market.

  • LSE Alternative Investments Conference - Algorithm Aversion

    28 February 2017

    LSE Alternative Investments Conference - Algorithm Aversion

    Dr Ewan Kirk, Chief Investment Officer of GAM Systematic’s Cantab team, spoke at the LSE Alternative Investments Conference in London in January 2017. He questioned why investors in general are sceptical of systematic trading while long term performance seems to indicate that the performance of models is at least as good as that of humans. So why the scepticism?

  • Tech Themes For 2017

    14 February 2017

    Tech Themes For 2017

    As technology evolves, new themes and opportunities open up for investors. As featured in Citywire, Mark Hawtin, GAM Investment Director, puts forward his thematic predictions for 2017, and explains why the future is not in handsets...

  • Themes and Trends for Luxury in 2017

    9 February 2017

    Themes and Trends for Luxury in 2017

    After three painful years, the luxury sector is turning a corner. This shift is bringing new investment opportunities, but GAM investment director Scilla Huang Sun believes that the recovery will not be uniform across the sector, meaning careful stock selection is key. She presents the trends and themes to watch this year.

  • Change is in the Air

    7 February 2017

    Change is in the Air

    Tim Haywood, investment director for absolute return strategies looks ahead to 2017 where, after a year of shock results and unexpected outcomes, two signs of change have materialised on the fixed income horizon.

  • Has China put the Brake on M&A?

    17 January 2017

    Has China put the Brake on M&A?

    Roberto Bottoli, manager of GAM’s merger arbitrage strategy, discusses the significance of new capital controls measures imposed by China, namely restrictions on outbound mergers and acquisitions, and whether the political standoff between China and other countries on cross-border M&A is likely to be resolved.


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  • Emerging Markets: Another Year, Another Opportunity

    24 January 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.

  • EU Equities – Selection is Key

    12 January 2017

    EU Equities – Selection is Key

    As featured on Investment Week, Niall Gallagher, Investment Director for European equities at GAM, explains why European companies continue to offer investors interest opportunities for returns in 2017, but warns that careful stock selection will be key.

  • After the BRICs, it’s Time to Focus on the VARPs

    3 January 2017

    After the BRICs, it’s Time to Focus on the VARPs

    Tim Love, Investment Director for emerging market equities at GAM, considers the major growth opportunities offered by Vietnam, Argentina, Romania and Pakistan.

  • 15 Years of the Euro

    29 December 2016

    15 Years of the Euro

    New Year’s Day will mark 15 years since the physical euro currency was implemented. Joachim Corbach, Head of Currencies & Commodities at GAM, considers the politics behind the introduction of the single currency, its future and what this means for investors.

  • Brazil - Room to Rally?

    13 December 2016

    Brazil - Room to Rally?

    Denise Prime, Investment Manager, examines the potential for Brazil to outperform in 2017 and the opportunities for fixed income investors.

  • The Consumer Takes Over

    9 December 2016

    The Consumer Takes Over

    A Q&A with Jian Shi Cortesi, who has been managing a consumer-focused China equity strategy for three years.

  • Contagion? Probably Not

    1 December 2016

    Contagion? Probably Not

    Global equity manager Robert Smithson outlines his views on the potential outcomes and implications of the upcoming elections and referendums across Europe.

  • Chinese Equity Rally Imminent?

    29 November 2016

    Chinese Equity Rally Imminent?

    Chinese shares rallied following the Trump election outcome and in contrast to most other emerging markets. GAM’s Asia-Pacific equity manager Michael Lai, who also runs a dedicated China portfolio, explains why he sees Chinese stocks well positioned for further upside.

  • Connecting China’s Exchanges

    22 November 2016

    Connecting China’s Exchanges

    Jian Shi Cortesi, investment manager for Chinese equities at GAM, discusses the development of the Shanghai-Hong Kong Stock Connect Programme as it celebrates its second year anniversary.

  • Saudi Arabia Delights Investors

    15 November 2016

    Saudi Arabia Delights Investors

    Saudi Arabia’s first-ever US dollar government bond issuance - the largest emerging market sale in history – has caused a stir in financial markets. Amy Kam, a GAM fixed income portfolio manager, explains the wider significance for Saudi Arabia and investors.


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  • The Remote But Real Risk in European Equity Markets

    21 April 2017

    The Remote But Real Risk in European Equity Markets

    Political risk is very much back on the agenda and even seemingly remote out comes cannot be discounted. While Gianmarco Mondani, Roberto Cantaluppi and Paolo Longinotti are wary of potential turbulence, they are also optimistic about the return to the market of differentiation at the stock level.

  • Cheer or Fear? The European Investment Dilemma

    19 April 2017

    Cheer or Fear? The European Investment Dilemma

    Europe’s election calendar reads like a political minefield, with prospects appearing all the more bleak with the French elections throwing up the possibility of a break-up of the euro zone and the European Union. Julian Howard, head of Multi Asset Solutions, considers the dilemma this presents for investors, particularly in light of an improving economic and earnings picture for both France and Europe.

  • A Game You ‘Probably’ Can't Lose

    11 April 2017

    A Game You ‘Probably’ Can't Lose

    GAM Systematic’s Dr Ewan Kirk and Dr Tom Gillam pay a short visit to a world of odds-based binary bets and apply their findings to a more familiar financial landscape.

  • Pair Trades to Pare Risk

    6 April 2017

    Pair Trades to Pare Risk

    In recent years, accessing the cheap beta of equity markets has been one of the best ways to invest. However, with dispersion becoming increasingly evident and potential political storm clouds gathering on the horizon, GAM portfolio managers Andy Kastner and Désirée Mueller ponder whether it might be a good time to reconsider a market neutral approach to investing in European equities.

  • Argentina – Expecting Entry Points to Materialise

    4 April 2017

    Argentina – Expecting Entry Points to Materialise

    Argentina’s economic history is complex and unfortunate, characterised by booms and dramatic busts in recent decades. Tim Love, Investment Director for emerging market equities, discusses why Argentinian equities will soon present a buying opportunity.

  • Beware a Receding Tide

    30 March 2017

    Beware a Receding Tide

    As featured in Investment Week, Niall Gallagher, Investment Director for European equities at GAM, considers the outlook for European markets.

  • Preparing for Normalisation

    21 March 2017

    Preparing for Normalisation

    US stock indices are trading at, or near record highs, US household wealth is booming and US inflation is edging ever closer to the Federal Reserve’s (Fed) 2% target. Anthony Smouha and Gregoire Mivelaz, who co-manage a number of GAM’s credit strategies, ponder the implications of a potential ‘normalisation’ of monetary policy for fixed-income investors.

  • Should Investors Switch into Cyclical Stocks?

    9 March 2017

    Should Investors Switch into Cyclical Stocks?

    Since July 2016, we witnessed a massive rotation from the defensive segments of the equity market into cyclical stocks. Carlo Capaul, GAM’s Head of Global Equities in Zurich, believes that investors need to weigh up the risks carefully before jumping on a moving train.

  • Will Politics Trump Economics?

    13 February 2017

    Will Politics Trump Economics?

    President Donald Trump has inherited an economy that is in much better shape than his predecessor did eight years ago. Nonetheless the new president has ambitious plans for his first 100 days in office. As featured on CNBC, Larry Hatheway, Chief Economist and Head of GAM Investment Solutions, considers just how much President Trump can achieve and what the likely impact on capital markets will be.

  • Trump: Can He?

    19 January 2017

    Trump: Can He?

    The inauguration of Donald Trump as the 45th President of the United States will be held tomorrow in Washington, D.C, marking the commencement of his four-year term in office. As featured on Citywire Wealth Manager, Julian Howard, Head of Multi Asset Solutions at GAM, considers what would constitute truly successful US economic policy and whether President-elect Trump can deliver it.


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  • Barclays First Quarter Profit More Than Doubles, Leadership

    28 April 2017

    Barclays First Quarter Profit More Than Doubles, Leadership

    Xavier Van Hove, investment director for global equities, discusses Barclays latest earnings and business strategy. (Source: CNBC)

  • May's Snap Election Is Calculated Risk

    19 April 2017

    May's Snap Election Is Calculated Risk

    Julian Howard, head of Multi Asset Solutions, discusses Theresa May's announcement of a snap election, the support in parliament and his outlook for the pound. (Source: Bloomberg)

  • Expect Oil Demand to Remain Buoyant

    7 April 2017

    Expect Oil Demand to Remain Buoyant

    Xavier van Hove, investment director for global equities, talks about portfolio strategy - specifically oil - given the increased sense of geopolitical risk seen as of late. (Source: CNBC)

  • FANGS Need to Deliver, But Still Cheap

    5 April 2017

    FANGS Need to Deliver, But Still Cheap

    Whilst commenting on tech valuations and the overall sector, investment director Mark Hawtin explains why he believes SNAP is overpriced. (Source: CNBC)

  • Opportunity Around AI, Data Huge For Tesla

    5 April 2017

    Opportunity Around AI, Data Huge For Tesla

    Investment director Mark Hawtin comments on the Tesla stock, in light of news that the automaker’s market value had overtaken Ford. (Source: CNBC)

  • What the Slump in U.S. Car Sales Tells Us

    4 April 2017

    What the Slump in U.S. Car Sales Tells Us

    Tim Haywood, investment director, discusses the slump in U.S. car sales, the current state of markets and the flow of money to ETFs. (Source: Bloomberg)

  • Brexit Difficulty Becomes a Reality for U.K.'s May

    30 March 2017

    Brexit Difficulty Becomes a Reality for U.K.'s May

    UK Prime Minister Theresa May found immediate opposition from EU leaders to her attempt to tie a free-trade deal with security cooperation. Larry Hatheway, chief economist. (Source: Bloomberg)

  • ECB Overdue to Normalize

    30 March 2017

    ECB Overdue to Normalize

    Larry Hatheway, chief economist, discusses disparity in U.S. and European monetary policy and his view that improved earnings will drive European markets. (Source: Bloomberg)

  • M&A Talk Is ‘healthy sign in the market’

    13 March 2017

    M&A Talk Is ‘healthy sign in the market’

    Julian Howard, head of Multi Asset Solutions, discusses recent M&A talk in the market and what this means for making money out of deals. (Source: CNBC)

  • Cheer or Fear? The European Investment Dilemma

    13 March 2017

    Cheer or Fear? The European Investment Dilemma

    Europe's prospects appear bleak with the French elections throwing up the possibility of a break-up of the euro zone and the European Union. For investors however, this presents a dilemma, with an improving economic and earnings picture for both France and Europe. An article from Julian Howard, head of Multi Asset Solutions. (Source CNBC)


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