The original report titled "The Disruptive Strategist Q2 2023 – Executive Summary" dives deep into the revolutionary domains of artificial intelligence (AI) in healthcare, virtual and augmented reality (VR and AR), and the dynamics of China’s electric vehicle (EV) market.
In the recent edition of "The Disruptive Strategist," the spotlight is thrown on the transformative impact of technologies like artificial intelligence in healthcare, virtual and augmented reality, the dynamics of China's electric vehicle market, and the pressing concern of 'technical
As we face the prospects of a stop-start economic recovery, could flexible mandates with a ‘go-anywhere’ remit be the optimal approach? The early ‘tenties’ was a golden era for multiasset credit (MAC), with multiple investment funds launching to meet growing
GAM Investments’ Michael Biggs says more clarity is needed on the outlook for global growth if risky assets such as EM FX are to rally in a sustainable way. The recent shock is disinflationary, however, and with central banks cutting
Julian Howard of GAM Investments examines the potential that markets now have to avoid fundamentals, even in times of coronavirus. We feel that markets have for some time now been largely ignoring fundamentals. This remains the case even as coronavirus
For emerging markets (EM) to do well, global markets require a growth rebound in Q3 or Q4. At a minimum, we would hope to see a peak in fatalities and new daily cases of the virus, followed by a clear
China’s first quarter growth has been predictably weak, but GAM Investments’ Rob Mumford believes the key question now centres around the pace of future growth. As expected China reported a very weak GDP of down -6.8% which was just a
The sizeable market dislocations of recent weeks have resulted in some anomalous valuations between the convertible and traditional bonds of quality companies. GAM Investments' Jonathan Stanford discusses why this presents a rare opportunity for investors. As we have seen multiple
Person of the Year 2020? Bolstered by election success, Conservatives dream of PM Boris being next year’s award winner. Global bond yields traded higher towards the end of this week as investors seized on constructive headlines pertaining to a China
We asked a number of our fund managers what they think will be the key events for their asset class in 2020 and their possible impacts.
GAM Investments’ Tim Love reflects on the performance of his frontier market plays, Vietnam, Argentina, Romania, Pakistan and Saudi Arabia (VARPS) so far this year and discusses the investment opportunities and risks associated with these economies.
At GAM Investments’ Weekly Investment Meeting held on 9 October 2019 the speakers were Jian Shi Cortesi, who discussed her views on Asia and China equities, and Lars Jaeger, who emphasised the importance of ARP strategies being diversified.
The development of quantum computers could spark the technological revolution of the 21st century. GAM Systematic’s Dr Lars Jaeger explains why this is such a symbolic milestone, and considers their amazing problem-solving potential. The quantum computer – a term that
Over the final quarter of 2019, the tug of war between economic resilience and recession risk is likely to dominate market outcomes and asset allocation decision making. The asset allocation committee outlines its views below. Over the past three months,
There is little doubt that over the last decade, investors with portfolios including indextracking strategies, have benefited from an environment in which cheap beta has thrived. However, GAM Investments’ Matthew Beesley questions whether the unrelenting appetite for passive investing could
The US economy, currency and equity markets are notably robust due to structural inheritance factors as well as the unique way its economic institutions and boardrooms are run. GAM Investments’ Julian Howard examines how these advantages allow the US to
Bond yields have nose-dived once more this summer in light of renewed geopolitical tensions and a decelerating global economy. GAM Investments’ Bogdan Manescu believes that fixed income investors can still find value and attractive yields in emerging market (EM) sovereign,
Contrary to popular misconception, the Japanese equity market is vibrant and appears compellingly attractive in valuation terms. GAM Investments’ Ernst Glanzmann and Reiko Mito explain why they are looking forward to the months and years ahead with considerable optimism.
Danish Prime Minister Mette Frederiksen gives Trump a firm ‘no’ as he tries to buy Greenland, despite his lack of ‘green’ credentials. Following the market turbulence in the first half of August, financial markets had a quieter week. Volatility indicators,
Dovish guidance from the European Central Bank (ECB) has erased the prospect of higher rates in the foreseeable future and led to significant repricing of bank equities on consensus earnings downgrades. Romain Miginiac, Credit Analyst at Atlanticomnium, explains why the
Dovish guidance from the European Central Bank (ECB) has erased the prospect of higher rates in the foreseeable future and led to significant repricing of bank equities on consensus earnings downgrades. Romain Miginiac, Credit Analyst at Atlanticomnium, explains why the
For active fund managers, outperforming stock markets, particularly in the US, can be challenging. GAM Investments’ Julian Howard believes one way investors might realistically outperform equity markets going forward is by accessing three structural growth ‘megatrends’: technology, sustainability and emerging
US unemployment has fallen to historic lows and job creation remains robust. GAM Investments’ Larry Hatheway considers what is behind this jobs phenomenon and its longer-term economic implications.
Investors turn to social media for tariff-truce updates ahead of a presidential in-person meeting at the G20 in June. Financial market participants spent much of the week monitoring the Twitter account of the US President in an attempt to decipher
When digital currencies act as safe-havens, we can’t help but think markets might be having a moment of madness. In Europe, comments from Salvini hurt the BTP market at a time when risk assets were already under some pressure. In
Climate change has already begun to impact the world’s inhabitants, ecosystems, economies and capital markets, and it will continue to pose a material threat in the future unless meaningful intervention takes place. Meaningful intervention could slow and potentially even reverse
Notes from a Region of Depressed Expectations Paltry data and frustrations in Brussels make for a dreary eurozone outlook, although US/China trade talks provide some hope for markets.
Growth Fears Temper the Rally The rally in emerging market (EM) assets paused this week as disappointing European data and mounting evidence of a slowdown in global capital expenditures stoked investors’ fears around the resiliency of the current expansion. Oil
50 days from the Hell of a Hard Brexit Britain appears to be sleepwalking towards a sticky end as the Brexit cliff edge looms large. At least the outlook is brighter across the Atlantic, while a possible bottoming in China
‘Patient’ – Emerging Markets Update ‘Patient’ – defined as being able to accept or tolerate delays. It is also the most important word investors heard from central banks all week as the US Federal Reserve (Fed) pronounced that “muted inflation
Emerging Market Debt Update Risk assets continued their early year bounce as dovish Federal Reserve (Fed) speak and cheaper valuations have proven to be just the tonic investors needed to reinvigorate their spirits following 12 jading months. It seems progress
Global economy decelerates as headwinds mount and tailwinds fade After enjoying solid and accelerating global growth in 2017 and the first half of 2018, momentum has waned and we expect this trend to continue into 2019. Financial conditions have worsened
Global Macro Update Following price action as irritating as the latest viral internet sensation, a change in the tide could result in better fishing grounds for an alpha catch.
Portfolio Manager Perspectives BlueBay Emerging Market Debt Update Those who were diligent enough to be at their desks last week probably felt like 2018 never ended as they endured another rollercoaster ride, with S&P futures experiencing a 6% peak-to-trough move.
Slowdowns, Sentiment and Suggestion – What does 2019 have in Store for Investors? As we transitioned into 2019, it seemed that financial markets were gripped by fears of impending economic slowdown, which helped to fuel flight-to-quality trades, as markets continued
Investment Grade Debt Update Poor technicals have jolted credit markets recently, but a deeper bear market in credit should only manifest in the next global economic downturn.
European high yield (HY) has been a much-overlooked asset class recently but is it time for investors to pay attention? The reach for yield from other quarters pushed European HY bond valuations, in many cases, to uncomfortably tight levels. In
Emerging Market Debt Update Emerging markets (EM) came under pressure this week as Brexit negotiations and the Italian budget took centre stage. The Federal Reserve (Fed) kept rates on hold but reiterated its plans for further gradual increases, all but
Investment Grade Debt Update Concerns regarding slowing global growth were exacerbated by a sharp fall in oil prices, while in the UK, a wave of government resignations overshadow a Brexit deal.
When the RBC GAM Global Equity team was formed back in 2006, we had two principles front of mind: i) that meeting our purpose of making a positive difference for clients would best be achieved through owning a portfolio of
Emerging Markets Update There was no respite for global equity markets this week as volatility continued to spike and any signs of weaker US earnings sent share prices sharply lower. In Europe, a series of underwhelming data prints, combined with
To date, investor interest in ESG has been largely focused on ethics (‘values’) and less on generating returns (‘value’), which has led to flows into sustainable and ethical investments. However, we have seen increasing acceptance that incorporating ESG analysis can
West No Longer Knows Best? David Dowsett shares his thoughts on the mindset shift investors need in order to benefit from the next 30 years of development in emerging markets, with Asia leading the way as the most significant investment
Executive Summary The heightened levels of market volatility experienced during the first quarter of 2018 spilled over into the second quarter. Financial markets have experienced large swings in valuations during the first half of the year, with notable increases in
In contrast to the year’s earlier volatility, markets are currently range-bound and lack conviction. Against this backdrop, the Asset Allocation Committee met last week to discuss investment strategy. A brief summary follows. Markets puzzle amid steady growth A general sense
There is a sense of unease in markets as investors try to anticipate what will be the next event to trigger market volatility Choppy price action and illiquidity have characterised fixed income markets over the past week and it has
Emerging Market Debt Update European politics remained centre stage this week as a government was formed in Italy consisting of the two largest non-mainstream parties. A new government was also installed in Spain. Elsewhere, a healthy US payrolls number and
Global.Liquidity.Management The Federal Open Market Committee (FOMC) continues to fulfill the path of their ‘dot plot’ and has voted to raise the Fed Funds Rate 25 basis points (bps) to 1.75-2.00%. The FOMC stated that it “expects that further gradual
GAM’s investment experts share insights on how active management adds value in their specialist fields.
GAM’s investment experts highlight what they believe will be the key events to look out for over the course of 2018 in their specialist fields.
