Regime Change: Taking Tech Down
SUMMARY Our Quad Regime has indicated a change in ‘regime’ – moving from ‘Reflation’ to ‘Goldilocks’, although we must caution though, goldilocks with defensive characteristics. In doing so, we will sell the US tech related equity positions, and raise cash until we have a better grip on employment data in particular. INCREASING DRY POWDER Just […]
Asset allocation trends – May 2024 update
The importance of getting the asset allocation decisions right has long been engrained in the thinking of investors and financial professionals. The difficulty has been how to get outside the realm of the subjective and have an approach that delivers consistently. A large body of academic research – much of it by my partners and […]
6 Trends in Asset Management Outsourcing
As the asset management industry continues to evolve and face new challenges, outsourcing investment management to outsourced managed portfolio solutions (MPS) as part of a top to bottom tech stack, has become an increasingly popular solution for financial advisers. With a suite of MPS, advisers can expand their investment capabilities while freeing up time for […]
Kami-Kwasi Budget
Last week the new UK Chancellor Kwasi Kwarteng announced a “mini-budget” package of tax cuts, subsidies and benefits, designed to ease consumer pain and less convincingly, to attempt to resuscitate UK growth; Markets didn’t take to the news well and reacted by pushing the Pound and gilt prices sharply lower, having taken a view that […]
Central Banks Conundrum
ACADEMIC RESEARCH HAS BEEN SUPPORTIVE FOR INVESTOR INTEREST The root causes for such a high level of inflation are in part endogenous, in part exogenous. After the Global Financial Crisis, the US central bank “the Fed” injected very large quantities of money into the system by bailing out banks, buying Treasuries, bailing out mortgage agencies. […]
Is It Simply A Two Sided Coin?
THE DEBATE OVER ACTIVE AND PASSIVE MANAGEMENT INTRODUCTION Given the recent flows that passive investments have received, it might seem that the debate between active and passive has been resolved. Exchange Traded Funds (ETF’s) have grown from approximately 100bn USD in the early 1990’s to over 3trillion USD today. But every dog has its day, […]
The King Dollar
MOST INDIVIDUALS ARE INDIFFERENT TO CHANGES IN VALUATIONS OF CURRENCIES; AND IT IS ONLY WHEN THEY GO ON HOLIDAYS ABROAD THAT THE EXCHANGE RATE BECOMES TOPICAL. In the business world it is much more relevant, however. Pretty much every business will use tools or products that have come from another jurisdiction, which probably uses another […]