New analysis from State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), reveals there has been a five fold increase in global assets of sector exchange traded funds (ETFs) since 2008, reaching $394 billion in assets under management (AUM) at the end of 2016, with… Read More »
Yunyoung Lee, manager of the Henderson Horizon Japanese Smaller Companies Fund, discusses the positive impact of Abenomics on Japan’s economy and stock market- a key reason why he is bullish on Japanese smaller companies. Key takeaways:• Four years of Abenomics are having a positive impact on Japan’s economy and stock… Read More »
The announced structural reforms and budget control would improve the long-term outlook for France. The ability of Macron to pass his reforms is contingent on the parliamentary election mid-June Macron’s victory diminishes eurouncertaintyMacron gathered 66% of the votes in the second round of the French presidential elections – three points… Read More »
Deutsche Asset Management (Deutsche AM) is harmonising its exchange-traded fund (ETF) and exchange-traded commodities (ETC) branding to ‘Xtrackers’ as the next step in pushing forward its growing Passive business. The current branding (db X-trackers ETFs and db-X ETCs) will be replaced with the single, unified Xtrackers to reflect Deutsche AM’s… Read More »
With the ECB expected first to change its communication emphasis over the summer followed by a move to ‘taper’ its quantitative easing programme moving into 2018, investors should expect the ‘one-way’ trend in Eurozone rates to transition to increasingly ‘two-way’ volatility, much as seen in the post-2013 period following the… Read More »
The Macron win was widely expected so market impact is likely to be modest. It does however set in place the dynamics for continued strength at the margin for European stocks and the euro which had been rallying since his win in the first round. Even though expected, Macron’s win… Read More »
Brexit is the key issue for the British election. The UK is leaving the European Union but the terms of divorce are still to be argued over. The importance of the election is that it delivers a British government with a strong enough mandate to fight for a deal that… Read More »
With global equities rising 7% in 1Q2017, valuations appear somewhat high on a historical basis. However, the bulk of this overvaluation is due to elevated multiples in the US, where at 22x trailing earnings, valuations have only been at such a level during the tech bubble of 2000-01. Sectorally, we… Read More »
HSBC Global Asset Management announces it is hard-closing its HSBC GIF Asia ex Japan Equity Smaller Companies fund to new subscriptions from all investors with effect from 10 May 2017. This is as a result of significant investor interest on the back of strong performance and HSBC has capped the… Read More »
The resilience in market earnings forecasts is in sharp contrast to the pattern seen in recent years. In each of the past five years (2012–2016) consensus estimates have declined materially in the first quarter. In each case, estimates continued to be reduced through the rest of the year. The recent… Read More »
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