Insights

Investment Insights by our experts and thought leaders

New Zealand Fixed Income Monthly - July 2021

New Zealand’s bond market performed well overall in July, although the long term sector outperformed its short term peers significantly.

Asian Fixed Income Monthly - July 2021

The US Treasury (UST) curve bull flattened in July. The Federal Open Market Committee (FOMC) meeting was largely uneventful, although the forward guidance on asset purchases was tweaked slightly to indicate that progress had been made towards the Committee’s goals although still shy of the “substantial further progress” needed for the start of tapering.

Global Equity Quarterly Q2 2021

Our philosophy is centred on the search for “Future Quality” in a company. Future Quality companies are those that we believe will attain and sustain high returns on investment. ESG considerations are integral to Future Quality investing as good companies make for good investment

Japan Equity Monthly - July 2021

We talk about the importance of staying focused on the broader implications of Japan’s corporate governance reforms when misconduct at major companies make the headlines; we also discuss the prospects for real estate and whether the market presents a bargain.

Further improving Japan’s equity culture and wealth

Japan’s economy should boom after the Olympics burden passes. Its stock market will likely rebound sharply too, but one item that has limited Japan’s equity culture, and thus, its wealth, especially for wary pensioners, is overly conservative guidance by corporations for upcoming fiscal year earnings.

Global Fixed Income Quarterly - Q3 2021 Outlook

As we roll into the August lull, we cannot help but ask the question: Where has the reflation trade gone? Expectations were for a display of heroism by the Federal Reserve (Fed) with Chair Jerome Powell announcing his grand taper plan at the Jackson Hole symposium, but I guess we will still have to wait for the big reveal.

New Zealand Fixed Income Monthly - June 2021

New Zealand’s bond market was relatively flat in June, although most sectors were on the positive side. Looking ahead, New Zealand appears set to track the US, where interest rate hikes could now happen as early as 2022.

New Zealand Equity Monthly - June 2021

This month, we take a look at the current state and prospects of New Zealand’s five main electricity generators/retail providers. Almost all the electricity in New Zealand is generated by five companies: Genesis Energy, Contact Energy, Meridian Energy, Mercury Energy and Trustpower.

"Thank goodness the Olympics burden is over!"

This is the likely phrase one will often hear in a few weeks, especially among equity investors and Japan’s political leadership. Of course, there are currently very few people in Japan who are very enthusiastic about holding the Olympics and virtually everyone would agree that it is a burden, but only the International Olympic Committee (IOC) can cancel an Olympics.

Asian Equity Monthly - June 2021

Asian stocks edged lower in June, partly weighed down by a recent spike in COVID-19 cases in the region. Lingering worries about rising inflation and fears of a faster-than-expected tapering of the US Federal Reserve’s quantitative easing programme also dampened sentiment.