Investing is a delicate balancing act. On the one hand, as relatively conservative investors we want to protect your capital by allocating to defensive assets. On the other, we strive to achieve long-term growth in your portfolio’s value by investing in higher-risk, return-seeking opportunities.
Based on our long experience in managing money across a variety of market conditions, we know that the best investments often arise from a small number of overarching mega-trends that drive economies and markets forward.
That’s why we have identified two of the most powerful trends shaping the investment landscape today: the debt supercycle and a technological revolution. These two trends are creating substantial opportunities for investors across a range of sectors, from sustainable investing and digital assets to biotechnology and beyond.
Most, if not all, of the positions we own in client portfolios are directly related to either the debt supercycle or the tech revolution. A handful of them are beneficiaries of both.
We’ve produced detailed analyses of our highest conviction ideas, explaining what, why and how we own them.
This strategy aims to make high single digit returns by investing in “equity dispersion” trades. Dispersion means analysing how stocks (or sectors) perform differently than the market predicts.
The concept of investing in Quality is a simple one: buy good quality companies that earn high margins, have sensible balance sheets and let the returns from the underlying businesses compound over time.
Trend Following is a systematic investment strategy designed to profit from price trends, both up and down, across equities, fixed income, currencies and commodities. All markets exhibit exploitable trends, which Trend managers take advantage of through long or short positions.
With global policymakers committed to allocating trillions of dollars to an array of sustainable initiatives, this theme seeks to capture the secular growth tailwind from efforts to decarbonise the planet.
Gold has stood the test of time as a reliable hedge against fiat currency debasement and we believe it merits a sizeable allocation whenever the authorities are stimulating aggressively. For more risk-tolerant investors, the Gold & Silver Mining stocks offer a higher risk/higher return approach.
The prevalence of disease is rising relentlessly as the global population ages and rates of obesity increase, which means healthcare spending has become a dominant feature of fiscal support. At the same time, we are in an era of major technological change that has sparked an acceleration in drug discovery and boosted the sector’s profits potential.
Catastrophe (Cat) bonds represent a specialist segment of fixed income markets. They are issued by insurance and reinsurance companies, typically generate an attractive yield and are floating-rate securities, meaning they have minimal interest rate risk. They also have strong diversification benefits, given the main source of risk is adverse weather.
China ‘A’ shares represent Chinese companies listed on mainland China exchanges. It is the second-largest equity market globally, with a total capitalisation in excess $10 trillion, making it second only to the United States. Yet despite its vast size and potential, the China A market often flies under the radar and it is typically under-owned, but that is changing.
