The current market environment has helped the stocks of the kinds of companies we seek enjoy fairly steady increases in valuation in the last few years. We have begun to question whether those increases in valuation mean that returns from such stocks will henceforth be even more modest than the returns to be expected from the market as a whole.
Frontier Emerging Markets Equity
Cement consumption is on the rise in many frontier countries, underpinned by long-term structural trends, such as infrastructure and housing development; thus the cement industry is a fertile ground for finding sustainably growing companies.
Emerging Markets Equity
The portfolio’s overall orientation tends to evolve incrementally, as we consider opportunities on a stock-by-stock relative basis and implement accordingly.
In the real world, apparently strange behaviors begin to appear when nominal interest rates turn negative. In this report, we asked three of our analysts to describe what they believe are some of the implications of sustained zero or negative interest rates.
International Small Companies Equity
The current environment of low interest rates and anemic growth is supportive of mergers and acquisitions.
Many ways to invest: products for institutions and individuals
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