As UK and global markets face the unprecedented challenge of the coronavirus pandemic, Louise Kernohan, co‑manager of Dunedin Income Growth Investment Trust, advocates a focus on high-quality companies and the need for a long-term mind-set.…
December; UK wage growth is about to surge For Professional Investors Only
As in many countries, wage growth in the UK has been missing in action, even as the unemployment rate has fallen to a 42-year low. Any sign of sustained wage growth therefore has the potential…
Exploring private equity
Partners Group believes that private equity merits an allocation in the portfolios of all investors seeking long-term capital growth and diversification from public equity. In contrast to public equity in which minority shareholders delegate control…
An Equity Market Update
As we head towards the end of 2017, we all naturally begin to think about the year ahead and what it may hold. For us, the real surprise in 2017 was the continued re-rating of…
Graphic Content – November; corporate bond risk premia are now the lowest ever For Professional Investors Only
Risk premia on a corporate bond can be broken down into two component parts. The first is the term premium, which relates to the risk premium on an underlying government bond, and is the extra…
Surging ahead
Private equity investment companies have recovered strongly following the global financial crisis. Over 1, 3 and 5 years, the average investment company in the Private Equity sector has returned an impressive 21%, 66% and 117%…
Still swimming in calm seas?
Alex Scott, Deputy Chief Investment Officer, Seven Investment Management Markets are maintaining the state of dead calm that we wrote about last month. The clock ticks on, with little sign of equity volatility. The tally…
Credit Market Wobbles Setup Potential Equity Market Test
After over a year without a more than 3% correction in the S&P 500, surely it is a matter of time before something wobbles and equity markets react. To be fair, the market has had…
Foreword from Annabel-Brodie Smith
I’m thrilled that we have a new contributor to Compass this month, namely Ian Cowie. Ian is one of the most experienced investment journalists and has been an investor and supporter of investment companies for…
A Patchy Dollar Breakout
For the time being, we are struggling to find much to say about equity markets. Generically, they just go up. They go up when bond yields decline; they go up when bond yields rise. They…
A state of dead calm
Alex Scott, Deputy Chief Investment Officer, Seven Investment Management As we write, stockmarkets are in the midst of an eerie calm. It’s worth understanding the historical context of just how extraordinary today’s conditions really are.…
Thoughts Ahead of the ECB
By this time next week, we will know the outcome of the deliberations of the European Central Bank. The majority of forecasters expect an announcement on their QE programme, with a EUR20 billion or EUR30…
The Risk of Doing Nothing
I'm forever blowing bubbles, Pretty bubbles in the air, They fly so high, nearly reach the sky, Then like my dreams they fade and die John Kellette, Jaan Kenbrovin 1918 Hardly a day goes by…
A love of acronyms
by Ben Kumar, Investment Manager, Seven Investment Management Ideas are dangerous things. Acronyms are worse. Acronyms distil complex ideas into something easy to remember. If they get really popular, however, the acronym becomes the idea.…
Big Picture Thoughts as we Head into Q4
Throughout most of the third quarter, it feels like we have been almost obsessively focused on calling a turn higher in both developed market bond yields and the US Dollar. After what feels like forever,…
What the Trump tax plan means for investors For Professional Investors Only
Summary On 27 September, President Trump announced the “framework” for comprehensive US tax reform. Passing the bill will not be easy, but it could simplify the current tax code, increase economic growth and support the…
Some Thoughts on Inflation, Tax Reform and the Fed
Before this week’s report, we wanted to draw your attention to the trade ideas section of the report we have run for the past few weeks. For administration and regulatory reasons, we would like all…
The elephant in the room: Can the Thai markets continue their strength?
The Thai market has been strong for the year to date, in spite of a number of political and economic challenges. Can it make progress from here? The transition to crown prince, Maha Vajiralongkorn, has…
The ETF Vortex
From time to time, we have mentioned ETFs in our weekly commentaries. On the surface, they are one of the most sensible investment choices that an investor can make, aren’t they? In an era in…