Industry news and views from Panacea and our partners.
Man Group
MAN: Musical Chairs AI Edition – Listen Carefully!
The AI boom has created a circular economy that’s starting to leave investors and the US economy vulnerable.
MAN: Are Markets Having a Pre-Covid Deja-Vu?
Markets are currently acting like it’s the dawn of COVID when everything still seemed manageable. Also, inflation may temper Takaichi’s political ambitions for Japan.
MAN: Taking Stock, After Time Away
Blank sheet: what can we say about inflation, valuations and sentiment?
MAN: Q4 2025: Beyond US Credit
While global credit remains broadly expensive, European and emerging market debt present compelling opportunities as dispersion continues.
MAN: Beyond US Mega-Caps – Where’s the Future of Tech Alpha?
With the global push for self-sufficiency, incremental alpha in the tech sector may no longer come just from Silicon Valley.
MAN: Eastern Frontier: Unlocking Diversification in China
Improving access to more of China's uncorrelated markets offers diversification opportunities to global investors as market dispersion increases.
MAN: Gold’s Record Surge: A Bet on Chronic Inflation?
Politicians tend to avoid austerity because it loses elections. This creates a structural bias toward loose policy that drives up gold prices.
MAN: Curing Paranoia
Academic research generally favours risk parity over 60/40, but investors have been slower to embrace it…
MAN: US Debt Strategy Risks Repeat of 2019 Liquidity Crunch
The US issuing lots of short-term debt may not be a viable strategy in the long term. Also, how do you price the new reality of explosive hurricanes?
MAN: The Fed May Disappoint. Especially EM Investors.
Markets overestimate the Fed's room to cut rates and EM spreads may be cut off from their liquidity lifeline.
MAN: AGMs: AI Concerns Amplify as Anti-ESG Noise Falls on Deaf Ears
Anti-ESG bands may have played the main stage at AGMs this year, but investors tuned into material risks instead.
MAN Group: Indian Summer?
It’s been a tough year for the vast camp (including myself) that favours Indian over Chinese markets. I’m still a believer. Here’s why, says Henry Neville, multi-asset portfolio manager, Solutions at Man Group.
MAN: Don't Blame it on the Sunshine
Tariff roulette, governance woes, and the problem with factor models.
MAN: The Wisdom of Buying Absurdly Expensive Stocks (Or Not!)
Are today’s expensive AI stocks the next market leaders – or just another bubble waiting to burst?
MAN: Everything Is Awesome in Tech Investing! (#Gulp!)
The rebound in AI stocks is the comeback story of the year so far. But be selective! Also, market bullishness can’t hide fragility.
MAN: Broken, Fixed, Better?
With tariffs returning to the spotlight, it would take a bold investor to anticipate the third quarter being any less eventful than the second.
MAN: Where Are We in the Credit Cycle?
Some recession signals appear to strengthen in the face of uncertain policy decisions and volatile geopolitics.
MAN: Can the Euro Really Challenge the Dollar’s Grip on Global Markets?
Can the Euro Really Challenge the Dollar’s Grip on Global Markets? The dollar’s dominance may have shown cracks but the path to a global euro is steep. Also, US jobs report shuts door on July rate cut.
MAN: Extreme Heat Fuels US Equity Market Volatility
We have found evidence of the existence of a climate factor in investing. And central banks hold firm as inflation concerns persist.
MAN: A Sustainable Future
Listen to Jason Mitchell discuss with Alex Grant, Equinor UK Country Manager, about the trade-offs required to achieve net zero.
MAN: GOLD!
The gold price has almost doubled over the past three years. There is a poignant beauty in the path not taken. Should you take it now?
MAN: The UK Economy: Better Than It Looks
There are reasons to be cautiously optimistic about the outlook for the UK.
MAN: Are V-Shaped Recoveries Becoming More Frequent?
April’s sharp rebound may feel familiar, but history suggests V-shaped recoveries are no more frequent than before. Also, the cracks in the US economy are starting to show.
MAN: Uneasy Calm?
Today’s market landscape is caught between fragility and tentative stabilisation. Also, what happened to the expected M&A bonanza?
MAN: European Credit: An Underrepresented Market with Outsized Potential
European credit has historically had a modest presence in global credit benchmarks, resulting in reduced allocation in most global portfolios. In contrast, more than 60% of global indices are weighted towards US credit, though we do not believe this is always where the best opportunities present.
MAN: Private Credit: Dispelling the Myths
We bust five myths about this burgeoning asset class.
MAN: Signs of the Times: Five Indicators of Regime Change
What are the quantitative signs that secular stagnation is over?
MAN: What Investors Should Know About Chinese ADRs and Delisting Uncertainty
The risk of Chinese ADRs being delisted hasn’t gone away, the US loses its Aaa credit rating and ESG has emerged as the unexpected port in April’s market storm.
MAN: Chip Wars or the Geopolitics of Tech Investing
Here's why China’s quest for tech sovereignty is one of the most overlooked investment trends. Also, Trump's budget may raise the probability of a recession.
MAN Group: Fed Could Be in Stagflation Bind as Immigration Policy Adds Inflation Risk
The Fed’s dilemma and the European stocks that are thriving in tariff-world.