Forget the Magnificent Seven, the Indian stock market has been the unsung hero of the past decade. The MSCI India has delivered an annualised return of 13.6%[1], that puts it ahead of the MSCI World (9.97%) and its emerging market peers (3.33%). The returns from the country’s small-and mid-cap sector have been even higher. With […]
The story of the UK equity market over the last decade has few uplifting moments. It has lost 25% of its companies[1], retail investors have pulled out more than £50bn, it has fallen off the radar of many international investors and even domestic companies are seeking to list elsewhere. It has also been a terrible […]
The Chinese year of the Dragon begins tomorrow, 10 February 2024. Dragons are associated with prosperity and abundance. This has been conspicuously absent from 2023’s year of the Rabbit, which has delivered a combination of volatile geopolitics, domestic economic weakness and unwelcome regulation. Chinese markets are now the ultimate contrarian investment option. Can they revive […]
Discounts in the investment trust sector are almost double their average[1], with the combination of cost disclosure rules and rising interest rates creating widespread selling pressure. It is perhaps not surprising that this has caught the attention of activist investors who spot an opportunity. Saba Capital is the latest arbitrageur on the block, thought to […]
The Japanese market has been the surprise success story of the past 12 months. The Topix has hit multi-decade highs, rising 21% since November last year, fuelled by corporate governance reform and economic revival[1]. Yet the spoils have not been equally shared, with small and mid-cap companies trailing the index heavyweights. Could there be more […]
US stock markets have continued to power ahead in 2023. If the environment has been fragile, they have been seen as a source of stability; if investors have been more optimistic, they have seen US companies as a source of growth. They have outpaced their peers even as inflation has rebounded, interest rates have leapt […]
From April 2020 to June 2022, the energy transition and the war in Ukraine combined to generate a significant surge in commodity prices. Since then, commodities have struggled, weighed down by the weakness of China’s economic recovery and mixed economic data across the globe. More recently, however, they have started to tick higher once again. […]
For some time, the trajectory of renewable energy infrastructure trusts appeared inexorable: the march to decarbonisation was inevitable, government backing a given and the regulatory environment supportive. However, in spite of some significant financial backing for renewable energy development, global governments appear to be wavering on their commitment to net zero, and the public backlash […]
Having been one of the few ports in the storm of 2022, it has been a dismal start to the year for infrastructure trusts. Every fund across the three main infrastructure sectors – infrastructure, infrastructure securities and renewable energy infrastructure – is down in share price terms for the year to date. For some of […]
Increasingly, investing in Asia has become a story of India and China. These twin behemoths account for over half of the MSCI Asia ex Japan index[1] and define the narrative for the region. However, some of Asia’s most interesting growth ideas – including China plus one, financial inclusion, and rising technology innovation – can be […]
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