Points de vue & Analyse

Prospects for UK equities appear highly favourable for 2021, generally and specifically so. Generally, macro-economic policy is unprecedentedly supportive for financial assets, with returns potential highest amongst equites where free cash flow growth is theoretically worth relatively more than ever before, hence equities are an attractive asset class and arguably the asset class of choice.

While many will remember 2020 as an annus horribilis, the large-scale roll-out of vaccines will put the global economy back on the growth track in 2021. Aside from its health consequences, the Covid-19 pandemic has shaken up our lifestyles, consumption habits and social relationships. It has also raised questions about how our democracies work and brought whole swathes of the economy and culture to their knees.

We are exceptionally optimistic about stock picking opportunity given the rich mix of events at aggregate levels and issues at idiosyncratic or individual levels: in effect the ‘top down and bottom-up’ mix is hugely supportive for stock performance which, in our opinion, sums to the effect that we are in a bull market.

There are still two clearly defined schools of thought – more normality in 2021 with the vaccine news and concerns about the efficacy of vaccine distribution and the impact this will have on global economies. Andrew Lake gives his insight into how this impacts fixed income markets as we approach the end of 2020.

Read our Multi-Asset team’s insight into positioning Multi-Asset strategies in the new normal, where they outline their cautious yet optimistic approach and what the recent vaccine announcements mean for equities.

The post-Covid world had the three upside catalysts for UK equities - resolutions to the US presidential election, Brexit’s final resolution, and an end to Covid. These headwinds will soon disappear. Find out what this means for UK Equity investing going forwards.

The recent vaccine news is very positive and 2021 could be a solid year for some parts of fixed income, especially in areas such as the fallen angels. However, quality in this environment remains key. Andrew Lake provides weekly insight into global fixed income markets.

US Presidential Election - certainty is good but all eyes are now on the Senate. Andrew Lake, Head of Global Fixed Income, provides weekly insight into global fixed income markets.

Standing strong: Is there value in European convertibles? Renaud Martin and Célia Levy discuss the resilience of European convertibles during the pandemic and the rising activity in the primary market, which is driving new and diversified opportunities.

The ‘Blue Wave’ is not coming and it looks increasingly likely that the US Congress will remain split. What next? Andrew Lake, Head of Global Fixed Income, outlines what this means in navigating global fixed income.

Lockdowns are looming and the US Presidential Election is upon us. Andrew Lake, Head of Fixed Income, covers what this means for fixed income markets, the importance of the ‘blue wave’ in the US and why control of the senate is critical.

Daniel Moreno, Head of Emerging Market Debt, outlines why liquidity and quality are important ingredients today and tomorrow.

UK Equities: Balancing value and quality. Jeremy Hewlett provides insight into navigating the UK equity market to find sustainable quality and value.

Fixed income markets are pricing in a ‘blue wave’ during the November US Presidential Election. What does this mean for Treasuries and other assets? Andrew Lake, Head of Global Fixed Income, provides weekly insight into global fixed income markets.

Navigating sustainable investing in UK equities is more than ESG. Climate change factors pose real long-term risks to companies, industries and countries in which they operate. Discover how we think differently here.

Global Fixed Income: How long will the disconnect be between the economic reality and financial markets? Andrew Lake, Head of Global Fixed Income, provides weekly insight into global fixed income markets.

Navigating the right path in a post-Covid world. Find out why we think a two tier UK economy, led by the 'digitals' and 'home services', coupled with highly attractive valuations, will lead to strong opportunities regardless of the Brexit outcome.

Technology leadership, 5G and lifting the masses: Find out how we are leveraging these key themes across Emerging Market equities.

Home comforts: Find out how our European equity team are harnessing the stay at home theme.

A slight market shiver as winter begins: The fixed income technicals are fine – what are the downside risks? Andrew Lake, Head of Global Fixed Income, provides weekly insight into global fixed income markets.