Market GPS
Investment Outlook 2021
What should be on the radar for investors in 2021? Market GPS helps direction-set with a video summary, in-depth asset class analysis and our latest portfolio manager views.
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China equities manager May Ling Wee highlights the key opportunities and risks facing the asset class in 2021.
Daniel Graña argues that country analysis should remain a key focus for emerging market investors given the implications from COVID-19 and a less supportive international trade environment.
Portfolio Manager Daniel Graña explains that in light of the retreat from further global economic integration, reformist policies and value-added services are likely to become future drivers of emerging market growth and investment returns.
Geopolitics are often an important consideration when investing in emerging market (EM) stocks, the upcoming US election included. But regardless of who takes the White House in November, the next administration is likely to continue down a path of deglobalization, with important considerations for EM investors, says Emerging Market Equity Portfolio Manager Daniel Graña.
Daniel Graña, Emerging Market Equity Portfolio Manager, believes that the beginning of the end of the post-Cold War order and the rise of an assertive China have enormous investment implications.
May Ling Wee, China equities portfolio manager, discusses the main highlights for investors in China stocks over the first half of the year, the implications on portfolio performance and the outlook for the rest of the year.
Money measures have surged in most major economies. Narrow money outperforms broad money as a leading indicator of economic activity. Annual growth of the official M1 measure in June was 35.9% in the US, 22.0% in Canada, 15.2% in the UK, 12.6% in the Eurozone and 12.3% in Japan.
The global stockbuilding (inventory) cycle is judged here to have bottomed in H1 2020, probably Q1. The cycle acted as a drag on global economic momentum in 2018-19 but is now scheduled to provide a tailwind at least through end-2021.
In this Q&A, May Ling Wee from the China Equities Team, comments on the key issues impacting China’s recovery post COVID-19 and stock market performance year-to-date.
May Ling Wee, China equities portfolio manager, provides evidence that a resumption of economic activity is underfoot in China and discusses the accelerating digitisation of the economy, as well as how both companies and the government are supporting consumers and businesses.
Chinese money growth picked up further in March, supporting expectations of a strong economic bounceback during H2 2020.
Major countries are now adopting radical social distancing policies, which may or may not be as effective as the lockdown in China’s Hubei province in late January.