Industry news and views from Panacea and our partners.
Investment Commentary_
Rathbones In the KNOW blog: The lights are still on for the US economy
Rathbone Global Opportunities fund manager James Thomson explains why he thinks the US economy may turn out to be brighter this year than feared. And can US stocks keep climbing if the economy slows, but doesnt shrink?
T. Rowe Price: Analyst Insights From Mexico
Members of our emerging market team recently visited Mexico, one of the best performers in the EM universe in the first half of 2023.
Baillie Gifford: The science and art of picking growth stocks
How do you spot a company with enduring growth potential? Partner Mark Urquhart shares lessons from a 27-year career thats involved investing in Microsoft, Hermès and Netflix.
The Exeter: On demand CPD from The Exeter
If you missed our live Pressure in the NHS: what it means for cancer diagnosis and care webinar dont worry! Youre now able to watch this on demand at a time that suits you.
Quilter Cheviot: Taking Stock - Narrative Shifts
As investors we need to pay heed to this potential pitfall. Human beings a) dont like admitting that we are wrong; and b) look for patterns everywhere
Orbis: Central Banks and Big Macs: Finding value in currencies
We focus on finding investments that are trading below their intrinsic value to try to avoid permanent capital loss. Using a metric of Purchasing Power Parity, sometimes called the Big Mac Index, the Japanese yen is an area where we see an intrinsic value opportunity from a contrarian standpoint.
M&G Wealth: Consumer Duty and client vulnerability
By now youll have done all the hard yards on the consumer duty the planning, fair value assessments, you name it - and are comfortable that youre ready for the Consumer Duty regulation. But one particular subject we havent yet covered in detail as part of our Consumer Duty series is client vulnerability.
PIMCO: Investing in the Aftershock Economy
Learn how investors can navigate an evolving investment landscape by taking advantage of attractive opportunities, like todays high starting bond yields.
Columbia Threadneedle Investments: Has the Bank of England got it all wrong?
Last week the Bank of England raised base rates to 5.25%, the 14th increase since tightening started in late 2021.
Allianz Global Investors: Addressing water storage gap
Learn how investments in enablers and beneficiaries of sustainable water storage solutions can offer attractive opportunities.
AXA IM: Take Two: Eurozone returns to growth; US credit rating downgraded
The Eurozone economy returned to growth in the second quarter (Q2), up a larger-than-expected 0.3% from Q1 as inflation pressures eased.
Pictet: Emerging market bonds: not afraid of China
China may be slowing down, but we believe that doesnt diminish the opportunities on offer in emerging market debt. Here is why.
Jupiter AM: Strong tailwinds
Adam Darling and Harry Richards say investors have a once in a generation opportunity to lock in high yields in the investment grade corporate bond market.
Artemis: Five charts: The case for investing in UK equities
Do companies listed in the the worlds most unloved market deserve to trade on a historically wide discount to their global peers? And if not what will make that change? Five charts help explain why Artemis is proud to fly the flag for UK equities.
Artemis: Ignore the instability in the mortgage market the UK consumer is on solid ground
With only about 30% of households in the UK with a mortgage and a larger proportion owning their home outright, we believe the UK consumer is in better shape than headlines would suggest.
Artemis: UK inflation and interest rates what happens next?
Stephen Snowden, manager of the Artemis Corporate Bond fund, says now is the time to lock in high bond yields. However, he warns that with leverage allowed to build up during the era of ultra-loose monetary policy, major dispersions in creditworthiness are beginning to appear between companies in the same sector, making a selective approach vital.
Artemis: Fullers: UK smaller company deep dive
Simon Emeny, CEO of Fullers, discusses the pub chains business model and how they are managing inflation and energy costs while Mark Niznik, manager of the Artemis UK Smaller Companies Fund, explains why we hold the firm.
Artemis: ESG vital part of special sits recovery stories
The managers of the Artemis UK Special Situations Fund explain why ESG is central to the recovery of any business that has fallen out of favour with the market, using case studies to demonstrate the importance of each of the three pillars of responsible investing.
Artemis: UK equities on the comeback trail: part 1
Should you invest in a dream or a reality? In the first of a two-part series, the Artemis UK equity income team explain why negative perceptions of the UK should give way to a focus on the strength of the underlying fundamentals.
Baillie Gifford Sustainable Income Fund update
Head of Income Research Steven Hay shares his views on the macroeconomic backdrop, persistent inflation, and the outlook for various asset classes. Capital at risk and income not guaranteed.
Baillie Gifford Multi Asset Update
James Squires, Head of Multi Asset, and Paul Morrison, Client Director, reflect on the recent drivers of performance and the current environment influencing Multi Asset portfolios.
T. Rowe Price: Offense and DefenseHealth Care Offers Exposure to Both Worlds
Amid a more uncertain market environment, we believe health care is one of the few sectors that offer defensive attributes as well as attractive growth opportunities.
Jupiter AM: Inflation is last years problem but whats next?
Central banks continue to fight inflation, but Ariel Bezalel and Harry Richards argue that its last years concern. So what should the Fed be worried about now?
Rathbones In the KNOW blog: A far-sighted perspective on near-term bond market moves
Tilting towards shorter-term bonds has made sense as interest rates have marched higher. But Head of Fixed Income Bryn Jones explains why hes now panning out to longer-perspectives and adding more interest rate risk (duration) to his funds.
Columbia Threadneedle Investments: Five reasons to think inflation will fall
While markets are focused on the recent misses in inflation, here's why we think it will in fact come down meaningfully in the next 12 months.
AXA IM: How investors can get on board with sustainable travel and transport
International tourism is expected to return to almost pre-pandemic levels this year, but this poses something of a conundrum. How do we combine the economic and wider benefits of travel with the increasing urgency of the need to tackle climate change?
Allianz Global Investors: ChatGPT: a disruptive force for investors
ChatGPT and generative are set to impact many industries. Read what investors need to know.
Rathbones In the KNOW blog: Nothing to fear but fear itself?
After braving Italian traffic, Head of Multi-Asset Investments David Coombs is in no mood to sit on the sidelines. But he worries that the fear-driven race to avoid missing the stock markets few biggest winners could screech to a sudden halt.
T. Rowe Price: Only a labour market downturn will solve the UKs inflation problem
Inflation has surged across the world over the past few years, fuelled by a chip shortage, an energy price shock and strong post-pandemic demand. Yet inflation in the UK is proving to be more persistent than inflation in other advanced economies, where core CPI inflation is now falling. To bring UK inflation back in line with other developed nations, the Bank of England will need to hike further and unemployment will need to rise and this will have clear implications for gilts and UK stocks.
Schroders: The cash conundrum - what history tells us
War, natural disasters, economic strife, and pandemics. The last four years have challenged attitudes towards investing. With the recent surge in interest rates, why should we invest when we can get a 5%, fixed term rate at the bank?
Jupiter Merlin webcast: Should we be worried about government debt?
Debt, and how to manage it, is a subject which polarises opinion and manifests itself in volatile market behaviour. How should investors react?
Jupiter Merlin Weekly: NATO recovers its purpose but what next?
This Jupiter Merlin Weekly discusses how NATOs support for Ukraine has restored its purpose after Afghanistan, and why it now faces a test of leadership it mustnt fail.
Jupiter AM: Making big strides
Avinash Vazirani and Colin Croft say Indias fast-expanding economy may offer a silver lining amid a gloomy outlook for the global economy.
Jupiter AM: 35 years on: the compound effect of environmental solutions
Jon Wallace, Noelle Guo and Grisha Milushev reflect on progress on ecological challenges during the 35 years since the Jupiter Ecology Fund was launched.
BNY Mellon: Market Watch 70
It is an important week for the UK with both inflation rates and the Bank of England policy decision coming out on Thursday. In this weeks Market Watch Shamik covers gilt yields, interest rate levels, mortgage rates and the possible repercussions these may have on the economy.
Pictet: Barometer: Follow the growth
With developed economies likely to be outpaced by their developing counterparts over the course of the year, we continue to favour emerging market assets.
Columbia Threadneedle: Are interest rates close to their peak?
Steven Bell, Chief Economist EMEA asks how long until we see borrowing costs ease in the UK?
Pictet: Asia's irrepressible regionalism
There is a widespread view that the world is deglobalising. Asia's increasing interdependence and its economic strength gives lie to that myth.
Allianz Global Investors: The China Briefing - Wheres the consumer
China has actively reengaged with prominent figures from the West, toning down the Sino-US geopolitical tensions would be an important market driver.
BNY Mellon: How to implement an impact investing strategy in emerging market debt
Insight Investment uses impact bonds as an umbrella term for fixed income issuances the proceeds of which are dedicated solely to projects intended to meet environmental or social criteria. This encompasses the universe of bonds referred to as green or sustainable as well as more specific outcome-oriented issuances such as blue, gender and transition bonds.