Japanese Equities: Short-Term Promise Jeopardized by Longer-Term Risks
We remain neutral on Japanese stocks despite attractive valuations and near-term earnings potential in view of daunting intermediate-term macro challenges.
Asia/Pacific
High Growth and High Expectations: Can Returns for Indian Assets Keep Up?
India’s robust growth and aggressive reform agenda offer opportunities to those investors who are careful not to overpay for assets.
The Opening of China: An Update for Investors
Despite its economic size, China remains under-represented in global investment benchmarks. Recently announced reforms have the potential to improve investor access and increase China’s weight in global benchmarks.
Japanese Equities: Is Abenomics Becoming a Liability?
We retain our overweight to Japanese stocks, but are watching closely to ensure economic or political events do not undermine the promising case for company fundamentals.
New Zealand Outlook 2016: Keep Steady
Risks to the global economy are rising, but the New Zealand economy is relatively well placed compared to others, with many of the risks external in nature.
RMB Risks
While a currency crisis in China can be avoided, much depends on investor psychology and how China manages the capital account.
Australia Outlook 2016: Déjà Vu All Over Again …
Investors should be prepared for 2016 to look similar to 2015, with high volatility and poor returns for risk assets.
Japanese Equities: It’s Not Too Late to Capitalize on the Recovery
Heading into 2016, we remain constructive on Japanese equities versus US equivalents and are broadening our recommendation to include Japanese small- and mid-cap stocks.
Investment Publications Highlights: November 2015
November’s publication summarizes three articles on China. The first suggests that the country’s GDP growth rate is unlikely to decline severely, the second argues that the government’s policies to stabilize the economy probably will promote a more sustainable growth path, and the third highlights how China’s slowing growth may limit global growth.
What Should Investors Make of Recent Headlines from China and Greece?
The situations in China and Greece, not to mention Puerto Rico’s debt woes, serve as a poignant reminder not to be complacent. Investors should take care that portfolios are well constructed, diversified, and consistent with their ability to absorb downside risks while meeting long-term return objectives. With risks rising in some areas, and few bargains…