Our “Letters from” series of quarterly newsletters provide investors with a genuinely unique perspective on investment topics from various regions around the world. Our investment managers have a wealth of valuable insight from within the diverse markets they invest in. Through their “Letters”, investors can share their thought provoking and stimulating views on economic, market and corporate developments inside markets such as Japan, China, India and a selection of emerging markets.
Letter from Sri Lanka
Mention Sri Lanka and tea, cricket, sea and safari typically come to mind. These are the more positive perceptions of the country. But political turmoil, policy confusion, currency depreciation and a bond scandal remain some of the negatives that the nation has yet to shake off.
Letter from Russia
Lead-in: All eyes are on Russia this summer, not least the estimated million soccer fans flocking to 11 cities across the country for the World Cup. And worldwide billions more will be tuning in to the ‘beautiful game’.
Letter from Vietnam
Vietnam is enjoying its day in the sun. The economy is in rude health, with growth at its highest level in a decade. Core inflation remains low and its external balances are improving.
Letter from Tokyo
Japanese stocks have benefited from strong economic growth in recent months. With robust growth around the world, Japan’s net exports have increased, most notably of semiconductor production equipment (SPE). To find out why the demand for SPE is growing so strongly – and thereby increasing Japanese exports – we look at the multiple drivers of growth in semiconductor usage such as increasingly sophisticated smartphones and the internet of things. And we consider whether Japanese companies stand to benefit from a structural change gathering momentum.
Letter from Korea
In many respects, South Korea is a highly developed economy. Its workforce is skilled and well-educated, life expectancy is an impressive 82 years, while internet speeds and smartphone ownership are the highest in the world.
Letter from China
The last few weeks of 2017 are seen by many global investors as a crucial time for China. Some have high expectations that an imminent reshuffle of the Communist Party’s top leadership will herald sweeping structural reforms for Chinese industries, companies and consumers. But I beg to differ.
Letter from Latin America
For such a rich and varied region, it is unsurprising that Latin America (LatAm) offers a plethora of interesting companies from across the corporate spectrum.