15 October 2018Why 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.
Tuesday, March 20, 2018China: 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.
Tuesday, February 27, 2018China: 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.
Thursday, February 15, 2018Year 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.
Monday, February 12, 2018The 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.
Monday, February 05, 2018Japan: 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.
Thursday, January 04, 2018China: 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.
Thursday, September 28, 2017Snap 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?
Thursday, July 13, 2017The 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.
Thursday, May 11, 2017EM – 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.
Tuesday, January 24, 2017Emerging 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.
Thursday, January 12, 2017EU 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.
Tuesday, January 03, 2017After 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.
Thursday, December 29, 201615 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.
Tuesday, December 13, 2016Is There Anything Left for Fixed Income Investors in Brazil?
Denise Prime, Investment Manager, examines the potential for Brazil to outperform in 2017 and the opportunities for fixed income investors.
Friday, December 09, 2016The Consumer Takes Over
A Q&A with Jian Shi Cortesi, who has been managing a consumer-focused China equity strategy for three years.
Thursday, December 01, 2016Contagion? Probably Not
Global equity manager Robert Smithson outlines his views on the potential outcomes and implications of the upcoming elections and referendums across Europe.
Tuesday, November 29, 2016Chinese 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.
Tuesday, November 22, 2016Connecting 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.
Tuesday, November 15, 2016Saudi 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.
Tuesday, November 01, 2016Innovation and Robotics Inspire Japan’s Revival
Reiko Mito shares some surprising insights and experiences from her recent trip to Japan.
Monday, October 24, 2016Why China’s Debt Swap Is Good for Stocks
Despite initial scepticism, the debt-to-equity swap program is good news for banks. Michael Lai, investment director.
Thursday, October 06, 2016Russian Rally: Can it Continue?
Can the rally in Russian equities continue? Erdinç Benli looks at risks and opportunities.
Thursday, September 22, 2016Emerging Market Debt – Stronger for Longer
Interest in emerging market (EM) assets is returning. With yields in developed bond markets almost non-existent, emerging debt looks particularly attractive. Paul McNamara, investment director for emerging market debt at GAM, explains why he still sees plenty of upside, despite a strong run so far this year.
Thursday, September 15, 2016EM Corporate Debt Presents Selective Opportunities
As featured on the FT’s beyondbrics, Portfolio Manager Dorthe Fredsgaard Nielsen evaluates investment opportunities in EM corporate debt.
Friday, September 02, 2016India To Ride GST Uptick
India's Goods and Services Tax bill represents a major milestone for the country's economy. Madhav Bhatkuly discusses its impact on domestic business transactions and benefits for the Indian equity market.
Tuesday, August 09, 2016Confusion under the (Five) Stars
GAM’s Carlo Benetti looks at the current developments in Italy and where it might lead the country.
Monday, August 08, 2016Niall Gallagher on European Equities
Monthly commentaries from Niall Gallagher, investment director of European Equities.
Thursday, July 07, 2016Emerging Markets and the UK Referendum
GAM Investment Director Paul McNamara looks at the impact of Britain’s surprise ‘leave’ vote on emerging market debt.
Monday, July 04, 2016UK Stocks After Brexit
Chris Morrison, investment manager, explains his views on the UK’s recent referendum result and its potential impact on the UK economy and equity market.
Tuesday, June 28, 2016Japan – Keep it Simple
Ernst Glanzmann, head of Japan equities at GAM, explains why he believes only old-fashioned, bottom-up, long-term investing leads to sustainable outperformance.
Thursday, June 23, 2016Investor Brexit Risk
Nearly two thirds of investors see Brexit as the biggest risk to the global economy over the next year.
Wednesday, June 15, 2016China Demystified
China remains a mystery for many investors. Lately, the decisions taken by the authorities to steer the command economy seem more erratic and harder to predict. Michael Lai, GAM’s Hong Kong-based investment director for Asian equities, explains how his observations on the ground tie in with the news headlines.
Wednesday, June 15, 2016Beware the Siren Song of ‘value’
The outperformance of ‘growth’ versus ‘value’ has been a persistent feature of the European equity market since the market bottomed in March 2009, highlights Niall Gallagher, investment director.
Thursday, June 09, 2016A Fresh Look at German Stocks
What are the benefits of investing in the German stock market? Portfolio Manager Oliver Maslowski addresses this question in his new book "German Stocks – The future of saving. Understanding and benefiting from the DAX."
Tuesday, June 07, 2016The Rise & Rise of Emerging Markets
After a very strong start to the year for emerging market bonds and currencies, some investors have been taking profits. But the next leg of the rally may be just around the corner, say Paul McNamara and Michael Biggs.
Friday, June 03, 2016Are European Equities Still a Buy in 2016?
Niall Gallagher, investment director at GAM, explains why European equities are poised for a buoyant recovery, led by stronger than expected earnings growth.
Friday, May 20, 2016EM Stocks Vs US Rates
Investment Director Tim Love explains why rising US rates could be the catalyst investors have been waiting for to trigger an emerging market rebound rally.
Tuesday, April 12, 2016The Comeback of Value
Hans Ulrich Jost, investment manager for European equities, explains why he believes that value stocks have finally started to stage a comeback after years of underperformance versus growth stocks.
Monday, April 11, 2016Made in Japan: The Future Belongs to Robots
Ernst Glanzmann, investment manager for Japanese equities, takes a closer look at companies based in Japan, in particular manufacturers in the robotics and automation technology sectors, which are benefiting from increasing demand from emerging economies.
Tuesday, April 05, 2016China: Stabilising Fundamentals
Michael Lai, Investment Director for Asia-Pacific and Chinese equities, is seeing signs of a turnaround in both sentiment and fundamentals in China. He explains why he is encouraged by the Chinese government’s latest decisions, and on which areas he believes the government needs to focus on now.
Tuesday, March 22, 2016China: No News is Good News
The National People's Congress (NPC) in China ended without any major surprises. Jian Shi Cortesi, investment manager for Chinese equities at GAM, explains why she believes this to be encouraging.
Thursday, March 10, 2016Robust Japanese Corporates
Ernst Glanzmann, manager of GAM’s Japanese equity strategies, takes a look at Japanese corporates and sees attractive opportunities on the horizon.
Tuesday, February 16, 2016China Confidence Crisis
Chinese markets had a weak start to the year in line with the sell-off in most global risk assets in January.
Tuesday, February 16, 2016'Make in India Week' to Showcase Investment Opportunities
As the Indian government trail blazes its way through a highly anticipated reform process, the country is set to host a landmark event ‘Make in India Week’ this month in the heart of India’s investment hub, Mumbai.
Tuesday, February 02, 2016China Monkey Business?
How will developments in China affect energy, EM and luxury sectors in the year ahead?
Tuesday, January 26, 2016Brazil – Opportunity Among Upheaval
Brazil had a torrid 2015 on all fronts, with no short-term cures in sight. However, nimble and flexible investors in particular could benefit from potential mispricings and false expectations, says Denise Prime, portfolio manager for local emerging market debt at GAM.
Tuesday, January 19, 2016Beyond Macro - Outlook for European equities
Niall Gallagher, investment director, shares his views on why he remains bullish on European stocks.
Friday, January 15, 2016The Riksbank's Inflation Obsession
Sweden’s central bank, the Riksbank, has an obsession with inflation and appears willing to do whatever it takes to raise it as quickly as possible. Adrian Owens, Investment Director, and Alistair Wallace, Investment Manager, consider implications for the rates and currency markets.
Tuesday, January 12, 2016Franc Shock 2.0?
A year after the Swiss National Bank roiled markets by abandoning its cap on the Swiss franc, Joe Corbach, Head of Currencies and Commodities at GAM in Zurich, considers implications of another franc shock.
Thursday, January 07, 2016Darkness Before Dawn
If an emerging market equities manager told you that the latest pullbacks have provided all the more reason to enter the market, would you roll your eyes? Perhaps, but we shouldn’t rely solely on historic data for investment decision, as current numbers suggests it may be riskier to be ‘out’ of the market than to be ‘in’ it. Tim Love, Investment Director, investigates.
Tuesday, December 15, 2015Who is Scared of Russian Stocks?
What might 2016 bring for Russian equities? Erdinç Benli looks at risks and opportunities.
Friday, December 04, 2015Peripheral EU Banks' Turnaround
Davide Marchesin, Investment Manager, takes a look at peripheral European financials and sees attractive opportunities on the horizon.
Tuesday, November 24, 2015US Profits: A Straw In The Wind
Corporate profitability in the US has enjoyed secular and cyclical tailwinds that have helped margins rise to historically very high levels. Now the future might appear less rosy.
Wednesday, November 18, 2015Argentina: Let's Change
As Argentina prepares for presidential elections, Denise Prime and Tim Love explore what is really at stake for the country.
Friday, November 13, 2015Shanghai-Hong Kong Programme Misses Connection with Investors
The introduction of the Shanghai-Hong Kong Stock Connect last year represented a major turning point for China’s stock market, but interest in the programme has fallen short of investor expectations.
Monday, November 02, 2015Turkey's Election Outcome: AKP Wins Majority
Erdinç Benli comments on Turkey’s election outcome.
Thursday, October 15, 2015Political uncertainty weighs on Turkey's economy and equities market
Erdinç Benli comments on the economic and stock market impact of Turkey’s impending election.
Tuesday, October 13, 2015A guide to investing in China
Jian Shi Cortesi, Investment Manager of the Julius Baer China strategy, discusses the current landscape of Chinese equities, gives advice on the top ways to invest here and an outlook for the market in light of the market’s recent turbulence.
Wednesday, September 16, 2015Brazil Downgrade
Paul McNamara, Investment Director at GAM, talks downgrades, yields and wake-up calls.
Friday, August 28, 2015Emerging markets are not all alike - selection offers attractive fixed income opportunities
Enzo Puntillo, Investment Director, on why selection offers attractive fixed income opportunities.
Monday, August 03, 2015China: Reform story still intact
Comment from Michael Lai, Investment Director, GAM
Friday, July 10, 2015Chinese equity sell-off spurs investor concerns
Comment from Michael Lai, Investment Director
Friday, July 03, 2015India – bureaucracy finally declared Enemy of the State
Comment from Madhav Bhatkuly, founder and CIO of New Horizon Investments
Wednesday, July 01, 2015German companies expected to deliver up to 10% profit growth in 2015
Comment from Oliver Maslowski, Investment Director
Wednesday, June 03, 2015Elections in Turkey: Single-party government since 2002 may be at risk
Single-party government since 2002 may be at risk. Erdinç Benli discusses the election.
Tuesday, April 21, 2015Japan's corporate governance code, cross-holdings and shareholder returns
Ben Williams, Investment Director, responsible for GAM’s Japan equity strategies, explains why the new Corporate Governance Code could be positive for investors.
Wednesday, March 25, 2015Brazil: Real problems
Paul McNamara examines Brazil’s standing within the BRICs economic region, the impact the commodity sell-off has had on the market and where investment opportunities might lie.
Friday, March 06, 2015Indian budget and economic survey lay the foundations for a multi-year bull market
Comment from Madhav Bhatkuly, CIO at New Horizon Investments, who manages a specialist Indian equity strategy for GAM.
Wednesday, January 07, 2015Reform vs. growth in China
In 2014 Chinese equities have largely been driven by sentiment and the government's constant tug-of-war between its reformist agenda and the quest for growth, rather than pure fundamentals.
Tuesday, October 14, 2014Japanese equities: Share buybacks and rising dividends
Share buybacks and rising dividends.