Fund Manager News

European markets are set to outperform in 2021, writes Guy Thornewill, Pie’s Head of Research UK and Europe and Senior Investment Analyst. This year has been one of the most volatile periods for share markets in recent history. The Covid-19 pandemic has caused unprecedented changes in economies, companies, and the lives of ordinary people. Europe…

With term deposit rates with most New Zealand’s major banks now under 1%*, the scene is set for many term deposits to earn next to nothing, or even go backwards after tax, in 2021. Whether it’s a bull or bear market, you don’t want your term deposits locked in. You want to be able to…

Brandywine Global offers reasons for better global growth in 2021. MACROECONOMIC OUTLOOK: POST-PANDEMIC BOOM? A bevy of traditional macro-indicators point to better global economic growth for 2021. Some of these indicators include the lagged influence of falling bond yields, the cumulative effect of past policy stimulus measures, the low level of energy prices, and high…

Update written by Roger Clayton, Salt Funds Management - 10th December 2020 In New Zealand, the S&P/NZX50 Gross rose +5.7% in November, led by Fletcher Building (+37%) on a strong earnings update, Air New Zealand (+28%) on vaccine optimism, and Meridian Energy (+21%) on persistent clean energy fund ETF buying. The most notable detractors were Pushpay…

Recovery stocks soar as vaccine imminent, explains CEO and Founder Mike Taylor. November was record breaking for many reasons. The fastest ever vaccine produced, the first ever US president not to concede the election after polling results, and the best month for stocks on record. As we leave the political debate for another forum and…

Brandywine Global: Improving ESG scores, higher credit ratings, and lower borrowing costs may be a few things to look forward to in 2021. We are often asked, “is there a country we wouldn’t invest in based purely on ESG factors alone?” It’s a fair question, particularly as we advance our ESG analysis and integration. However,…

Brandywine Global: Our view on risk management within our multi-sector and credit-oriented strategies. The term “risk management” is universally espoused in the investment community but not necessarily universally implemented. At Brandywine Global, the ultimate purpose of risk management is to minimize the permanent loss of client capital. Furthermore, risk management is especially important when managing…

Brandywine Global: We assess the true indicators of the PBOC monetary stance, reasons for the market rate selloff, and whether China’s onshore bonds offer value. With China’s policymakers’ resolve to attract foreign capital to its onshore bond market and the country’s gradual inclusion in global bond indices, foreign investors are assessing the merits of investing…

In a speech to the House of Commons Winston Churchill famously described the Allies' win in the second battle of El Alamein as the “end of the beginning.” It was a wonderful, stirring speech and it was prophetic. Victory at El Alamein changed the course of the Second World War ultimately resulting in the allies’…

It can take guts to voice unpopular views. Last Thursday, about 20 minutes into our team’s 9am weekly distribution meeting, I recalled someone voicing what everyone else was thinking, that “property is just on the nose right now”. That summed up what we had been hearing. Whilst some investors are still actively allocating funds to…

It has been an unprecedented nine months. One of the more conclusive aspects to emerge from this tumultuous period, at least in the eyes of Australian income investors, has been Asia’s resilience. While Europe and the US struggle with another wave, Asia is not only well placed to recover from the pandemic’s impacts, it is…

November was something of a watershed month for the Fund, with a record performance outcome of +8.31%. Firstly, stock selection was very strong, with a number of large winners. Secondly, there was a massive switch in factor performance in markets across the world. Price momentum stocks lagged, while cyclicals and some value stocks caught a…