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Forthcoming Event

US Equities Running on Fumes

The chart illustrates the performance of the S&P 500 and the cumulative flows into equity funds since the beginning of 2013. The correlation has been strong until recently, and as BAML highlight, the risk of a correction in US equities increases in the absence of a pick up in inflows to equity funds. In fact, we are left wondering just how long US equities can levitate without some new good news coming into the market...

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European Equities: The Making of a Bubble

QE has unleashed a massive wall of money which is now hitting European equity markets. The market action on some days is truly scary and I have to go back in my memory to 1999 and the early part of 2000 to remember such an experience...that uneasy feeling that we are on-board a runaway train and that the only possible outcome is a derailment. I stumbled the other day on a price chart...

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Japanese Equities - GLG Japan Core Alpha

Stephen Harker is arguably one of the U.K.'s best known Japanese equities managers and has been analyzing or managing Japanese shares since 1984. He has been involved with the almost £5-billion GLG Japan CoreAlpha strategy through its various incarnations since 2006. In a region that has been subjected to numerous false dawns since its early 1990 atrophy, Mr. Harker's...

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US Equities Losing Steam as Investors Continue to Chase Europe

The year to date trend of European equity out-performance continued last week. Is it really as simple as allocating to the markets where the central bank is cranking up the printing press with fundamentals relegated to the back seat? For the moment, it seems so! On that subject, China cut its main interest rate by 0.25% this morning - more below. We don’t really have any problem...

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Popular Global Equities Income Funds in Europe

Global equity income funds are by no means a recent product initiative. Martin Currie Global Equity Income, the sector’s oldest fund, was launched in September 1983 followed by Baillie Gifford Global Income Growth in October 1984. Today, there are now over 1,000 funds (with respective share classes included) and investment trusts registered for sale in Europe within the Lipper...

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Where Were They Five Years Ago? Fund Winners of 2014

Humans tend to think in terms of calendar years when time, of course, is a continuum. Indeed much is said this time of year of the previous year's investment "winners" and "losers". Such comparisons are very limited for use in analysing the relative worth of an investment. Fund managers rarely manage money on a one year time horizon, nor do they take into account convenient...

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Goldilocks US Employment Report Supports US Dollar and Equities

The US employment report showed the economy generating lots of new jobs without too much wage inflation. This will allow the Fed to claim that they remain on track to meet their dual mandate and at the same time pursue a more modest rate rising cycle than the hawks are suggesting. The combination of decent growth and prospective rate rises has been extremely supportive...

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Do European Fund Buyers Prefer Active or Passive U.S. Equities?

Regardless of where one stands on the efficient-markets debate, most investors concur that the U.S. market is the most highly analysed and efficient global market. The dilemma for the fund selector when deciding to go down the active path is finding a fund manager who is able to consistently add value over time. Reflecting this, over 600 different funds and share...

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Fund Manager Briefing: Hermes Emerging Market Equities Fund

It is increasingly popular for emerging markets to be contextualised within myriad acronyms such as BRIC (Brazil, Russia, India, China), MINT (Mexico, Indonesia, Nigeria, Turkey), and the unwieldy CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey, South Africa). Gary Greenberg, lead manager of Hermes Emerging Market Equities Fund, doesn’t care much for these acronyms...

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The Downside Looks Greater Than the Upside

Global financial markets have been trading nervously, with poor European economic data, geopolitical concerns and deteriorating credit markets all taking their toll. By Friday, with news that Russia was hoping to de-escalate the Ukraine situation, markets had tested and held support. With many participants taking a break during the next few weeks, markets will be susceptible to headlines...

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