Views and Analysis

UK Equities: Fear has peaked

David Kneale takes stock of the UK equity market, shining a spotlight on the valuation disconnect as inflation drivers turn negative, interest rate expectations decline and attention shifts to earnings forecasts.

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Views and Analysis

“Paid to wait”: the new paradigm in convertible bonds

A market lag in repricing discount bonds presents an opportunity.

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Publications

My Switzerland

The idea that central banks are starting to move away from aggressive rate hikes is at the very heart of market expectations, although a pivot towards expansionary policies is some way off.

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Fixed Income

Rethinking the role of investment grade corporates

The fixed income 40% – is now the time for investment grade corporates to take over from sovereign bonds? Senior Portfolio Manager Fatima Luis makes the case for an allocation switch-up.

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Fixed Income

EM debt: Why it’s time to de-diversify

EM debt investors have a new mantra: Avoid diversification. Following an indiscriminate sell-off, laser-focused, high-quality allocations are the name of the game for EM debt. Sector expert Daniel Moreno shares where he’s seeing investment potential.

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Fixed Income

If the UK were a high yield bond, how would it rank?

“When we analyse high yield credits, one of the first questions we ask ourselves is: are management interests aligned with bondholders, or shareholders?” Al Cattermole outlines how to find investment potential in an uncertain environment.

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Fixed Income

Positioning for the turning point

Where to position in a directionless market? Head of Fixed Income, Andrew Lake shares where he sees opportunities across the USD30 trillion bond universe.

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Views and Analysis

COP27: Climate change implications for equity investors

We ask David Kneale, Head of UK Equities at Mirabaud Asset Management, what the event means for investors, how companies are responding to climate change pressures and how much real progress has been made in the race to zero.

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Views and Analysis

Brazil beyond politics: 3 equity market drivers

Brazil has outperformed other emerging markets year to date. This positive momentum looks set to continue thanks to the peak in rates, attractive valuations and a recovery in earnings.

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Views and Analysis

European innovators shape their own destiny

In falling markets, companies that can control prices, protect their margins and are led by dynamic management teams have the greatest chance of meeting their growth potential.

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Views and Analysis

Extraordinary times in EM debt

With seven major macro challenges rocking the asset class, emerging market (EM) debt has suffered heavy outflows this year. What might happen next depends on your policy view; for investment opportunities, look to the individual, not the aggregate.

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Views and Analysis

Convertibles approach optimal convexity

Equity sensitivity hit the sweet spot in September, enhancing convertibles’ asymmetric risk/reward profile despite market turbulence.

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Publications

My Switzerland

Core inflation is struggling to decelerate, and central bankers are willing to tolerate a further deterioration in economic activity for inflation to gradually return to its target level.

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Views and Analysis

Fixed income is looking cheap – but where to buy? View from the fixed income desk

I have tried to time the news and wait to write my next update, but as there is something of significance happening almost every day, it is becoming the “update that is never going to happen”.

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Views and Analysis

Too big to fail? Don’t overlook anti-trust

How anti-trust legislation is impacting corporate giants and how an integrated ESG approach can support more accurate equity valuations.

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Publications

Mirabaud Funds - Monthly Performances

An in-depth view of monthly fund performances across our traditional & alternative fund range.

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Views and Analysis

Swiss Equities Small and Mid Cap Strategy - August 2022 - Outlook

The hope of a central bank pivot has been crushed by the most recent FED signalling that the interest rate hiking cycle will last for a prolonged period of time. This also put a future goldilocks scenario of receding inflation, resistant economic growth and peaking interest rates further away.

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Publications

My Switzerland

The US Federal Reserve is not intending to cut interest rates next year: Jerome Powell and many members of the FOMC confirmed their resolve to rapidly bring inflation back to around 2% during their speeches at the central bankers’ symposium in Jackson Hole.

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Press Releases

Latest investment of our Lifestyle Impact & Innovation strategy; Varjo

We’re delighted to announce the latest investment of our Lifestyle Impact & Innovation strategy; Varjo. Varjo, based in Helsinki, is the industry leading provider of professional-grade VR/XR hardware and software.

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Views and Analysis

WAR, WHAT IS IT GOOD FOR? VIEW FROM THE FIXED INCOME DESK

Not much good comes out of war, and for market participants it is another 2022 headwind to deal with. War is inflationary. We have seen the effects of the Ukraine/Russia conflict since it began in late February.

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