Ninety One | The Big Picture: Recent Episodes
Investec Asset Management
A collection of interviews and viewpoints from Ninety One’s investment professionals. Important information - This podcast is provided for general information only and assumes a certain level of knowledge of financial markets. It is not an invitation to make an investment and should not be construed as advice. The views in this podcast are those of the contributors at the time of publication and do not necessarily reflect those of Ninety One. The value of investments can fall as well as rise and losses may be made. In South Africa, Ninety One is an authorised financial services provider.
We have grown used to 'higher for longer', but the winds of change have now seemingly started to blow in the corridors of monetary policy power. Sweden and Switzerland have cut, and Canada followed suit. All eyes were on the ECB, and it did not disappoint, cutting rates by 25 basis points. Christine Lagarde was still guarded, however, and did not commit to further falls. John Stopford analyses the implications.
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Investment analysts frequently ignore culture and inclusion, focusing exclusively on companies’ financial statements. Yet the ‘human factor’ is often among the key drivers of corporate performance, and ultimately of shareholder returns. Professor Alex Edmans talks with Ninety One’s Stephanie Niven and Miles Hamilton about how to leverage research into culture and inclusion into better investment decisions. They also discuss their joint work to develop a practical framework for incorporating culture insights into investment analysis.
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For Schneider Electric, a multinational company that specialises in digital automation and energy management, sustainability isn’t just about doing good. It’s a way of aligning the business to the structural tailwinds created by a decarbonising world.
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Juliana Hansveden and Yuxin Lin from the Sustainable Equity team recently travelled to China and Korea to meet existing and prospective portfolio companies. They discuss the insights gained from the trip and detail how they’re capturing the structural growth opportunities.
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Portfolio Manager Stephanie Niven and analyst Sam Anthony discuss the importance of biodiversity and how they think about it from an investment perspective.
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India offers an exciting decarbonisation growth opportunity, but it is also fast becoming the most populous country in the world. With that comes both risks and opportunities for investors. Portfolio Manager Graeme Baker is joined by Ninety One analyst Arita Sehgal and London School of Economics Professor in Practice Nick Robins to unpack this topic. They look at India’s impact on the world’s transition to net zero and what a just transition looks like for the country.
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After the recent optimism of market participants that sent US markets to record highs and bond yields tumbling, the mood has changed. Bond yields have risen sharply and frothy equities are well off their highs as inflation has proved stubbornly high. John Stopford analyses the data in the US and beyond.
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A new capex supercycle is forecast to shape the next decade, driven by a fusion of factors. Join strategist Sahil Mahtani as he delves into the historical backdrop, identifies key drivers, and explains what it means for investors.
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Global commodities prices as measured by the CRB Index have increased around 14% in 2024 and investors are becoming increasingly optimistic about a meaningful long-term up cycle. From copper to cocoa and gold to PGMs, George Cheveley explains the fundamentals behind the rally and the prospect of it persisting and considers the outlook for the share prices of resources companies.
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The annual gathering of the world’s central bankers at Jackson Hole has concluded. The headline act, Jerome Powell of the Federal Reserve, was predictably circumspect as he highlighted stubborn inflationary pressures and therefore a cautious monetary policy stance. Russell Silberston summarises the gathering and the future of not only US interest rates but China’s and other key economies.
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Reports of the demise of the US dollar as the world’s reserve currency have been numerous over recent years. Yet its status remains intact even though 2023 hasn’t been kind to the greenback. US interest rates show signs of having peaked as inflation abates, but is the dollar weakness as simple as that?
Philip Saunders provides a perspective on the outlook in conversation with Lindsay Williams.
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Juliana Hansveden and Yuxin Lin from the Sustainable Equity team recently travelled to China and Korea to meet existing and prospective portfolio companies. They discuss the insights gained from the trip and detail how they’re capturing the structural growth opportunities.
Thirty one company visits over 14 days. A hectic schedule for Juliana Hansveden and Yuxin Lin as they travelled China and Korea for the first time since COVID. In an interview with portfolio specialist Ellie Clapton, listen to what they learned from their trip and how the Sustainable Equity team are thinking about these opportunities.
These are uneasy times in the oil market. The OPEC+ group met again in Vienna last week alongside oil industry chief executives and the stakes are high. Tom Nelson, Head of Thematic Equities discusses with Lindsay Williams.
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India offers an exciting decarbonisation growth opportunity, but it is also fast becoming the most populous country in the world. With that comes both risks and opportunities for investors. Portfolio Manager Graeme Baker is joined by Ninety One analyst Arita Sehgal and London School of Economics Professor in Practice Nick Robins to unpack this topic. They look at India’s impact on the world’s transition to net zero and what a just transition looks like for the country.
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The world needs $4 trillion a year to reach net zero by 2050, with 25% of this needed by emerging markets. Nazmeera Moola, Chief Sustainability Officer and Daisy Streatfield, Sustainability Director, discuss how if we are to achieve a real-world transition, investors must finance new infrastructure and industries in emerging markets that will help the transition and provide capital for credible transition paths of today’s high emitters.
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Philip Saunders discusses the end of the current cycle and a new market regime that is reshaping the world as we know it and unpacks what this means for investors.
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The poor performance of government securities in 2022 and the write-down of Credit Suisse’s AT1 bonds should lead investors to question the defensive qualities of their fixed income holdings. Traditionally, bonds have been seen as ‘safe’ and equities as ‘risky’, but this does not always hold true. Jason Borbora-Sheen and Ellie Clapton are back on the desk to discuss why they think investors need to think beyond bonds for a fixed income-like return.
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The UK’s financial sector is not just about big banks. Portfolio managers Ben Needham and Anna Farmbrough explain why savings platforms are a pocket of the equity market with significant growth potential, making it an area of focus for quality investors. Demographics, government regulation and technology should all help its development, with additional learnings on offer from US counterparts.
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In this interview, we speak to Bridget Beals, Head of Climate Risk & Strategy at KPMG who talks to us about the engagements she’s having with companies across public and private markets and the transition plans she’s seeing from these companies.
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The Credit Suisse crisis has called into question the defensive qualities of fixed income holdings. Traditionally, bonds are seen as ‘safe’ and equities as ‘risky’, but John Stopford argues this rather simplistic view of the world ignores the quality and breadth of securities which make up a company’s capital structure.
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Valuations in South Africa are cheap, but in the fight for capital, opportunities in Asia appear more compelling, says Hannes van den Berg.
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In the first episode of Sustainability with Substance, Portfolio Manager Stephanie Niven and analyst Sam Anthony discuss the importance of biodiversity and how they think about it from an investment perspective.
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Following the recently concluded spring meetings of the IMF and World Bank, Annika Brouwer reflects on progress made in public finance reform, the need for and challenges of mobilizing private capital, and the imperative for policies and projects to incorporate a return objective.
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What is typically expected to be a quiet post-holiday week, saw a number of interesting developments exerting influence. US inflation at the consumer and producer levels abated, the UK produced anaemic growth numbers, and the IMF played down talk of peak interest rates. Significantly, the US dollar took a tumble. Jason Borbora-Sheen considers the implications.
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The past couple of years have been disorderly for Chinese equities. However, President Xi’s recent reshuffle provides greater clarity regarding the government’s direction of travel. In our view, the trend towards localisation – prioritising domestic champions over foreign alternatives, in order to drive self-sufficiency – will benefit several leading companies within the quality spectrum, particularly in the software, healthcare and consumer sectors.
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To get to net-zero we have to finance the high emitting sectors and regions from a state of high carbon to a state of low carbon. The path to getting there is not simple or clear. Head of Thematic Equity Tom Nelson and Sustainability Specialist Annika Brouwer discuss the disorderly transition that is underway.
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The investment world has been rocked by two bank failures in the US and a crisis at a Swiss giant. Financial authorities have stepped in to soothe fears of a contagion and yet investors’ nerves are still raw. Philip Saunders argues that this a healthy development for the long term.
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In the latest episode of Inside Track David Clare, Partner at Barnett Waddingham, is interviewed by Ninety One's Jaspal Boparai. He provides us with a view of the UK Investment Consulting landscape from the eyes of a true industry veteran as he prepares for retirement.
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Resources prices and the value of producers’ shares are being pushed and pulled by a variety of complex factors, both self-made and external. In an interview last week, George Cheveley shares insights gained from conferences abroad, where he has been both a speaker and delegate. He pays particular attention to gold, a metal that has recently regained some of its lustre.
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The investment world was recently rocked by a bank failure. It was a niche bank but nonetheless important, as its demise highlights the impact of repeated and rapid rate rises. Iain Cunningham explains why this may be the beginning of a problem, not the end.
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For decades an inverted yield curve has unerringly predicted recession in the US and beyond. The margin between the 2-year and the 10-year bonds in the US is around 100 basis points, so despite robust economic data, the future is uncertain. Last week Philip Saunders discussed the theory and implications for the global economy.
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International Energy Week used to be ‘Petroleum’ week. The need for these companies to be the drivers of the energy transition is paramount, but the transition is not an overnight process. Tom Nelson explains the importance of the transition from the old hydrocarbon energy world to a new green revolution, but also emphasises that the process must be managed carefully by the producers, and monitored by an investment community that is becoming ever more vigilant about sustainability and the environment
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Predictions of the demise of inflation were seemingly premature after key releases from the US and UK recently. Will it remain ‘sticky’ and thus keep interest rates elevated? Iain Cunningham analyses the fundamentals, the inverted rate curve and the implications for the world’s economic growth.
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It’s Budget Day 2023 and SA is on tenterhooks. In the conclusion to Enoch Godongwana’s speech, the word ‘bold’ appears twice. The question is how bold he can be given a subdued economic outlook and the embedded structural weaknesses that are all too familiar. However, the markets were cautiously optimistic in response. Sisamkele Kobus discusses.
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The world’s largest mining investment conference recently concluded in Cape Town, with sustainability at the heart of the next wave of new exploration. In South Africa, three nagging problems linger, as Annika Brouwer explains.
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The recession-predictor pundits are stoic in their belief that the US is already in, or will be soon in the midst of an economic downturn. However, recent PMI and jobs data show that the world’s largest economy is defiantly robust. Jason Borbora-Sheen puts froward the case for a recession, but not yet.
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Three central banks opened their envelopes last week, but they held little surprise as the contents were well communicated in advance. Russell Silberston argues that investors should look beyond the February meetings to those occurring in March, when things will get interesting.
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2022 was the year the bond markets broke, forcing a fundamental rethink of defensive investment strategies. John Stopford believes a nimble approach to investing is essential.
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Semiconductors are integral to the products we use in everyday life. They are even at the centre of global political disputes. Some predict the industry will be worth over US$1 trillion by 2030, given an ever-increasing demand for chips, and therefore, from an investment perspective, it’s important to remain on top of developments. To this end, the Ninety One Quality team sat down for a deep dive on the semiconductor industry to analyse the market through a quality investment lens and discuss which companies will be the long-term winners in the space. Featuring portfolio specialist Joe Knight, Asia-focused portfolio manager, Charlie Dutton and William Nott, a global analyst on the team.
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Valuations reset in 2022. Equity prices fell, while cash rates and bond yields rose. As the risk premium returns to more sensible levels, opportunities are beginning to emerge.
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A turbulent year has increased the opportunities for companies that are helping the world transition away from fossil fuels and use energy more efficiently.
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Assets are flowing into ESG funds, but investors need to choose carefully because the ‘sustainable’ label still covers a very wide range of investment approaches. Nazmeera Moola, our Chief Sustainability Officer discusses.
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Fear was a key driving force of investor behaviour in 2022. This resulted in some major dislocations of asset prices relative to fundamentals. Active investors should look to harness these, explain Werner Gey van Pittius, Victoria Harling and Archie Hart.
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The consequences of years of super-loose monetary policy are coming to a head. Times of culmination – when markets reap the harvest of seeds sown sometimes long before – can be perilous. But they can also present opportunities for investors.
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Market participants, so used to inflation surprises to the upside, were caught off guard when the latest US data came in below expectations. A startling risk asset class rally ensued. Jason Borbora-Sheen analyses the data, the likely reaction from the Fed, and also warns of being too enthusiastic on the back of one data point.
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Sometimes South Africa is justifiably negatively regarded but on other occasions perception distorts reality. Malcolm Charles uses the bond market to illustrate this phenomenon and set out his outlook for SA fixed income assets.
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Anastasia Guha, Global Head of Sustainable Investment at Redington, helps dissect this conundrum and shares her views on the most important factors investors must be thinking about.
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Britain is facing an economic and socio-economic crisis brought about by global events, but also of its own making. Investment Strategist Russell Silberston expertly analyses the situation, leaning on his 40-year career to see what lessons we can take from the past.
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The Fed and the Bank of England have both raised rates while warning of more to come. Russell Silberston analyses the economic and market implications in conversation with Lindsay Williams.
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Commodities as an aggregated price index nearly tripled from the beginning of the pandemic to earlier this year. There has been a pullback, but is it a pause or a new trend? And are commodities economic leaders or laggards? George Cheveley analyses the current market in discussion with Lindsay Williams.
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Predictions of the demise of the US dollar as the world’s reserve currency have been debunked as the greenback soars to double-decade highs. The implications are far reaching for the global economy, but also for portfolio construction. Philip Saunders analyses the current environment in conversation with Lindsay Williams
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Outflows from Chinese equities have been persistent through 2021 and much of 2022. Investors have struggled with near-term dynamics from COVID, a weak real estate market and fresh regulations. This has driven valuations to their cheapest level since 2019. For long-term investors, portfolio manager Wenchang Ma sees six reasons why you should revisit the investment case for Chinese equities.
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For something that cannot be directly observed, and changes through time, the neutral level of interest rates generates an awful lot of debate, says Strategist Russell Silberston.
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The Fed, as expected, raised US interest rates by 75 basis points. The accompanying news conference, however, was the main focus of market participants, and in the short term they liked it as many risk assets jumped. But what of the future? John Stopford, Head of Multi-Asset Income discusses the implications in conversation with Lindsay Williams.
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The European Central Bank has raised rates for the first time in 11 years. The 50 basis-point hike takes the European benchmark to zero, and further rises likely to quell inflation. Russell Silberston, Investment Strategist, discusses the implications with Lindsay Williams.
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Inflation has soared to multi-decade highs in several key economies, ringing central bankers’ alarm bells and unsettling the global investment community. But has inflation peaked? And if so how will the custodians of the price of money respond?
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Journalist and broadcaster Helen Fospero documents the 2022 Tusk Lewa Safari Marathon. She follows the unique experiences of the 11-strong team from Ninety One who took part in the annual run through the beautiful Lewa Wildlife Conservancy in Northern Kenya.
In the tenth year of Ninety One’s partnership with Tusk, the team raised money for Tusk and Lewa and visited inspiring community projects funded by the charity including schools, reforestation programmes and local sustainable power initiatives to see first-hand the difference their fundraising makes.
Four years after assistant Portfolio Manager Varun Laijawalla’s last research trip to India, he came away from company meetings feeling that notable changes were underway in the country, particularly around digitisation, manufacturing and housing.
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‘Sustainable investing’ has become a catch-all term for an extremely broad range of investment approaches. To deliver returns to investors and a positive impact for a world in urgent need of sustainable development, investors need to be very clear about how their money is being allocated – and to what ends. Nazmeera Moola, Chief Sustainability Officer, discussed with Lindsay Williams.
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Three central banks have recently raised interest rates in response to rampant inflation. Leading the pack was the US Federal Reserve, delivering the biggest rise of 75 basis points. The Swiss National Bank weighed in with a 50 basis point increase and bringing up the rear was the Bank of England, lifting rates by 25 basis points. Strategist Russell Silberston discusses if they’ve left it too late, what market participants think, and explains his strategy in the light of the current volatility.
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Short-term market movements are rightly brushed aside by long-term investors, but the fundamentals behind those movements are crucial if they persist and short term becomes longer term. Philip Saunders, co-Head of Multi-Asset Growth discusses the set of circumstances causing such concern in conversation with Lindsay Williams.
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Philip Saunders reviews his 2022 views during the annual Ninety One Global Insights conference.
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Australia’s election was an important reminder that sovereign-bond investors need to look beyond purely economic and financial data. As Michael Spinks explains, natural-, social- and human-capital factors can be significant sources of risk for investors in debt issued by countries – as well as other assets.
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Michael Power talks to Lindsay Williams about his recent talk at our Global Insights conference in London.
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Lockdowns in China, and to a lesser extent the war in Ukraine, are exacerbating supply chain constraints. Ninety One’s 4 Factor analysts discuss how the technology and industrials sectors are navigating this disruption, the implications for earnings and possible beneficiaries.
We invited guest speaker Indira Sabitova, Portfolio Manager at Mercer, to share her experiences of investing sustainably and practical takeaways for investors looking to embark on the journey of integrating sustainability in their portfolios.
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In our second episode of our on-going series, From the Multi-Asset Desk, Ellie Clapton, Portfolio Specialist and Jason Borbora-Sheen, Portfolio Manager, discuss some of the hot topics in the Multi-Asset team at Ninety One. With a recent flattening followed by a subsequent re-steepening of the yield curve, what are the consequences for asset returns and the potential risk of a recession?
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Suddenly central banks worldwide have awoken. Rates are rising and investors are contemplating the consequences. Russell Silberston describes the present and potential future environment in conversation with Lindsay Williams. Recorded on May 5th.
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With the global construction industry accounting for almost 40% of total energy-related greenhouse gas emissions, tackling climate change clearly needs to start at home. That presents big opportunities for companies supplying products and services that make the built environment more energy efficient.
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Risk assets seem to be sensitive to the downside, but yet remain at elevated levels. As we approach May with what some see as the perfect storm, is there an element of trepidation? Sell in May, take protection, or target sectors that might be resilient? John Stopford discusses.
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Philip Saunders, Co-Head of Multi-Asset Growth discusses the dramatic policy shift towards defence and energy spending in Europe, and explains why the conflict may mark a turning point in the world’s reliance on the US currency.
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In the first of our on-going series, Ellie Clapton and Jason Borbora-Sheen discuss the potential for central banks to surprise investors in the short term, what impact inflation might have on markets and other hot topics being looked at by the analysts in the Multi-Asset team.
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With the focus in recent weeks on Russia and Ukraine, interest rates were seemingly a sideshow. But they came into sharp focus when The US Federal Reserve and the Bank of England raised rates within hours of each other, as predicted. But what is the prediction for the future? Investment Strategist Russell Silberston explains.
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With gold back in the headlines, George Cheveley returning from the BMO Mining Conference, gives his views on what will be driving gold in 2022.
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Portfolio Manager Iain Cunningham argues that it is time to look through the negative Chinese growth surprises and take advantage of depressed valuations in conversation with Lindsay Williams.
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Sahil Mahtani and Chris Miller take a look at China’s tech revolution and provide a report card from consumer internet to hard tech.
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Bond investors’ worlds have been turned upside down as inflation goes from transitory to troublesome. Rising yields might be a reality for years, not months. More than ever, resilient income generation is at a premium, explains John Stopford, Head of Multi-Asset Income in conversation with Lindsay Williams.
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As the world transitions towards net zero, investors need to think carefully how they allocate to the energy sector. Tom Nelson, Co-Head of Thematic Equity, explores the outlook and the opportunities.
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January 26th 2022: With uncertainty hanging over markets, investors need to tread carefully in the Year of the Tiger. But as Ninety One’s investment professionals explain, there are abundant opportunities too.
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December 16 2021: Cyclical and structural trends are shaking up natural-resource markets. George Cheveley, Portfolio Manager, discusses how to capture the opportunities next year.
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December 15 2021: Have inflation expectations been overshot? John Stopford, Head of Multi-Asset Income, thinks things could actually turn out better in terms of rate expectations than perhaps the market is beginning to fear.
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December 14 2021: With the inflationary environment uncertain in this unique market cycle, Clyde Rossouw, Co-Head of Quality, believes owning stocks with pricing power is important to inflation-proof portfolios.
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December 09 2021: After a rising tide lifted all parts of the credit market in 2021, Jeff Boswell, Head of Alternative Credit, explains how investors should approach a backdrop of wider dispersion in company performance in 2022.
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December 08 2021: With the world’s transition to net zero likely to be a key focus for investors in 2022, Peter Eerdmans, Head of Fixed Income and Co-Head of Emerging Market Sovereign and FX, explains the important role of EM debt and the need for new approaches.
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December 07 2021: Victoria Harling, Head of Emerging Market Corporate Debt, outlines the key drivers of EM corporate debt markets in 2022 and discusses where she sees the most compelling opportunities in the aftermath of significant volatility.
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December 06 2021: Against a highly uncertain macro backdrop, gold may prove valuable for investors next year. And with gold companies in their best shape in a long time, George Cheveley, Portfolio Manager, discusses why gold equities may be a useful way to get exposure to the diversification potential of the precious metal.
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December 02 2021: Wenchang Ma, Portfolio Manager, details why investors should be more optimistic about 2022, with modest corporate valuations for the growth on offer, and a smoother and more dispersed growth profile.
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December 01 2021: Intensifying efforts to tackle climate change will drive growth for select companies in 2022 and beyond. Deirdre Cooper, Co-Head of Thematic Equity, discusses how to ride the green wave.
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November 30 2021: Getting to net zero requires engaged investors who are willing to finance the emerging world’s transition. Nazmeera Moola, Chief Sustainability Officer, explains Ninety One’s approach to the decarbonisation challenge.
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November 25 2021: Portfolio Managers Grant Webster and Archie Hart explain why the prudent action already taken by central banks in the face of rising inflation has left emerging markets well-prepared heading into the new year.
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November 25 2021: Investors must navigate a complex environment as monetary policy normalises. Philip Saunders, Co-Head of Multi-Asset Growth, explores the investment outlook across asset classes and regions.
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November 24 2021: Hendrik du Toit, Ninety One CEO, explains why investors must direct capital towards reducing real-world emissions, rather than focusing on short-term ‘feel-good’ carbon targets.
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November 01 2021: Out with the old and in with the new … or is it? ‘Old’ industry commodities are essential for the development of the new, clean-energy world. George Cheveley, Portfolio Manager, shares an investment perspective on these seemingly strange bedfellows.
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September 16 2021: Philip Saunders, Co-Head of Multi-Asset, explores the tricky balancing act facing the Fed, namely when to begin tapering its considerable support for markets in the face of improving growth prospects and stubbornly high inflation. Meanwhile, China has taken a different path, tolerating lower growth and a volatile equity market in order to address some key challenges that Beijing believes have been rumbling in the background for too long.
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August 19 2021: Ninety One strategist, Russell Silberston analyses the latest signals from the US Federal Reserve.
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July 19 2021: Philip Saunders, Co-Head of Multi-Asset Growth talks about the Fed acting as a 'chaperon' and discusses its potential decision to remove emergency monetary accommodation whilst not considering raising interest rates and what this means for markets.
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July 12 2021: Wenchang Ma, Portfolio Manager at Ninety One, reflects on the 100 year anniversary of the Chinese Communist Party and discusses the opportunities and concerns felt by investors. Should investors view recent developments in the country as negative or positive signals from a long-term investment perspective?
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July 08 2021: CEO Hendrik du Toit, is joined by Nazmeera Moola, Deirdre Cooper and John Green to discuss net zero for emerging markets, portfolio vs real world carbon and the unintended consequences of carbon intensity measures.
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June 28 2021: George Cheveley, discusses the latest state of the gold market, how the US Federal Reserve policy is affecting gold prices, the impact of inflation on gold and hedging against uncertainty within the market as client are more encourage in holding gold and gold equities to diversifying their portfolio.
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June 16 2021: Malcolm Charles discusses the green shoots – from construction to agriculture and mining – in the domestic economy, and the risks to his more upbeat outlook.
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June 10 2021: Michael Power, Ninety One Investment Strategist, discusses recent economic data from China and why it has both delighted and startled market participants and commentators.
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June 3 2021: Philip Saunders, Co-Head of Multi-Asset Growth, looks at post-Brexit Britain, discussing the country’s increasing growth rate as well as the bounce in Sterling from the low levels it experienced during the Brexit period.
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May 17 2021: George Cheveley, portfolio manager of the Ninety One Global Gold Fund and co-portfolio manager for the diversified Natural Resources strategies, discusses the rise in the CRB index and the outlook for commodity prices and inflation.
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May 5 2021: Ninety One’s Value team discuss why it’s not just about finding deep value investments as they rotate across value styles to identify what they believe are the best long-term opportunities.
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April 12 2021: John Stopford, Head of Global Multi-Asset Income, looks at market reactions to recent events, Biden’s infrastructure spend and what this means for the second quarter.
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April 8 2021: Philip Saunders and Sahil Mahtani discuss the Investment Institute’s ambitious Road to 2030 project, where we explore the long-term structural thematic drivers as we move towards 2030, and how investors can use this thinking as a framework for making investment decisions.
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March 29 2021: Join John Stopford, Head of Multi-Asset Income, as he discusses the recent central bank forecasts and what this means for markets.
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March 16 2021: Philip Saunders talks to Lindsay Williams to discuss global markets and the latest central bank moves.
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March 1 2021: President Xi’s ‘net-zero’ pledge has set China on a path for a faster decarbonisation than expected. That’s likely to drive growth for the enablers of the transition to a low-carbon economy says Portfolio Manager, Wenchang Ma in the latest in our series on the Year of the Ox.
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February 19 2021: The development of China’s tech sectors is likely to accelerate this year, creating opportunities for investors. But caution is warranted, because this increasingly politicised industry requires careful navigation. Portfolio Manager Charlie Dutton explores.
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February 16 2021: John Stopford looks at global markets, central bank moves and his views on inflation as he looks toward a world after lockdown.
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February 10 2021: Continuing our series looking at China in the Year of the Ox, Michael Power looks at the the next five-year plan and how he sees this accelerating economic trends in China, including the development of the middle class.
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February 8 2021: In the year of the ox, much hinges on whether China can sustain its recovery and pull other economies out of their pandemic slumps. But besides GDP growth, investors can ride other trends that China will strongly influence over the next 12 months and beyond. In this episode, Alan Siow looks at how China is the only large and liquid bond market with positive real interest rates, making an interesting option for global investors.
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January 20 2021: What is the outlook for UK equity investors following the conclusion of a deal? As the pandemic strikes hard and the UK is once again in lockdown, Simon Brazier provides his views on how the economy will cope and on the implications for investors resulting from the Brexit/EU trade negotiations.
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December 2 2020: Meaningful action urgently needed to clean up the supply side energy system. John Green, Chief Commercial Officer of Ninety One discusses.
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November 27 2020: Looking through the US election. Philip Saunders, Co-Head of Global Multi-Asset Growth of Ninety One discusses.
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November 27 2020: Behavioural bias - Tune in and turn off the noise. Listen to Rhynhardt Roodt, Co-Head of 4Factor and Portfolio Manager of Ninety One discuss.
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November 17 2020: Does the Biden presidency combined with prospects of a vaccine in 2021 provide stable enough grounds for investors? Listen to John Stopford, Head of Multi-Asset Income, discuss the outlook and implication for global markets.
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November 2 2020: Who will disrupt the disrupters? In part two of his recent podcast and following his recent webinar, Michael Power answers this and more. Listen now.
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November 1 2020: Why did China not suffer more? In part one of his recent podcast and following his recent webinar, Michael Power answers this and more. Listen now.
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October 19 2020: China’s pledge to cut its net carbon emissions to zero by 2060 is a significant step in the fight against climate change. But who are the winners of this structural transition?
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October 1 2020: Investors’ perception of EM corporates is often based on the reality of ten years ago. But the asset class has evolved and grown significantly, says Victoria Harling in her latest interview.
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September 19 2020: Against consensus, the South African Reserve Bank kept rates unchanged after their two-day MPC meeting. Peter Kent examines the market reaction and what this means for investors.
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September 18 2020: Philip Saunders discusses the market reaction to the recent announcement from the US Federal Reserve Bank.
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September 11 2020: The need to spur on Europe’s post-pandemic recovery has initiated bold policy action. How can investors find attractive value and innovative companies in Europe? Ken Hsia discusses.
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September 3 2020: Jeremy Gardiner discusses the upcoming US election, global markets in a COVID-era and what this means for SA investors following our recent #TakingStock events in South Africa.
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August 23 2020: The dearth of income is quickly becoming one of the leading concerns for investors. This is especially true of investors in or nearing retirement who are now having to eat into their capital. John Stopford discusses how investors could thrive in an income desert.
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August 14 2020: In our latest podcast, Philip Saunders discusses global markets with Lindsay Williams.
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August 5 2020: By working remotely, space becomes compressed, and borders fade — what starts in New York arrives in Dallas and ends in Bangalore. And the implications for white-collar workers, commercial real estate and the digitisation of services are profound. Marc Abrahams and Sahil Mahtani discuss their recent paper from the Ninety One Investment Institute on the future of work following the global COVID-19 lockdown.
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July 23 2020: Michael Power discusses key topics on China – including the ongoing trade tensions, COVID-19 response and impact as well the recent GDP numbers.
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July 16 2020: Multi-asset product specialist Ellie Clapton discusses the effect of the pandemic on inflationary forces and what that could mean for investors.
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July 2 2020: Graeme Baker discusses the release of the second annual Global Environment Impact Report, looking at the importance of transparency and engagement when it comes to sustainable investing. To find the full report, go to www.ninetyone.com and search for 'Ninety One Global Environment Impact Report'.
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June 26 2020: Peter Eerdmans discusses EM debt in a post-pandemic world, where distinguishing between winners and losers is vital.
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June 17 2020: In a growth-challenged world, decarbonisation remains a powerful structural growth trend. COVID-19 has created opportunities and challenges for investors aiming to tap into it. Deirdre Cooper discusses this in our latest podcast.
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June 11 2020: Simon Howie talks to Lindsay Williams about the launch this week in South Africa of the Ninety One SA Recovery Fund and its aim to assist with COVID-19 economic recovery in the country.
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June 4 2020: The pandemic has seen governments intervene in economies, financial markets and everyday life with unprecedented speed and reach. Investors should expect this more expanded role of governments to stay says analyst Daniel Morgan. Visit ninetyone.com and search for ‘return of the state’ to read the full report. Part of a new series by the Ninety One Investment Institute.
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May 28 2020: The system is in trouble and now COVID-19 has brought its fragility into question yet again. Whether by evolution or revolution, change is inevitable. The implications for investors reliant on the system will be immense. Russell Silberston explores this in the latest podcast in the series looking at the Great Shutdown and its implications for investors. Visit ninetyone.com and search for ‘under pressure’ to read the full report. Part of a new series by the Ninety One Investment Institute.
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May 21 2020: Hendrik du Toit talks to Lindsay Williams following the inaugural results announcement of Ninety One. Interview recorded on 20 May 2020.
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May 15 2020: With the COVID-19 Great Shutdown slamming the brakes on economic activity worldwide, where does this leave globalisation? In the second instalment of our Great Shutdown series, Ninety One's Sahil Mahtani discusses how the pandemic will impact global trade. Visit ninetyone.com and search for ‘deglobalisation’ to read the full report. Part of a new series by the Ninety One Investment Institute.
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May 13 2020: Duncan Coombe, head of human capital at Ninety One, talks to Lindsay Williams about his research into human behaviour, effective leadership and what it means in the current ‘lockdown’ environment.
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May 6 2020: The unprecedented policy action from governments to cushion the impact of COVID-19 has led to significant extra debt being added to already high levels. How are we going to get rid of it? Listen as Russell Silberston introduces his latest research into #TheGreatShutdown. Visit ninetyone.com and search for ‘dealing with the debt burden’ to read the full report. Part of a new series by the Ninety One Investment Institute.
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April 22 2020: Philip Saunders discusses what a COVID-19 recovery may look like for markets, the impact across asset classes and the historic drop in oil price. Recorded on 21st April 2020.
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April 20 2020: The need for speed has never been greater to combat the coronavirus crisis. Central banks have done a lot, says Russell Silberston. But is it enough?
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April 16 2020: Most emerging markets have announced packages of 2% to 5% of GDP. The large developed countries have so far provided fiscal packages of 12% to 15% of GDP. Adding up all the measures that South Africa has announced gets us to 0.7% of GDP at the most. Without more, there will be a great deal of short-term and long-term pain for South Africans says Nazmeera Moola.
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April 8 2020: Hendrik du Toit, CEO of Ninety One, discusses the impact of the COVID-19 pandemic and the ‘war-like’ response required from the government and private sector.
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April 7 2020: Deirdre Cooper looks at the impact of the COVID-19 pandemic on environmental investing and what this means for global decarbonisation efforts.
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March 20 2020: Hendrik du Toit talks to Lindsay Williams about the demerger of Investec Asset Management, the listing of Ninety One and the road ahead. Interview recorded on Friday 20th March.
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