The latest from HGi

Chinese rate cut: quick comment

Simon WardClick for moreClick to follow:Simon Ward
279 Following
2 days ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following

Weak Chinese October monetary data signalled that additional policy stimulus would be required to sustain economic growth at its recent pace – see previous post. The People’s Bank announced a modest easing step today.

Global trade pick-up lifting Japanese exports

Simon WardClick for moreClick to follow:Simon Ward
279 Following
3 days ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
GlobalClick for moreClick to follow:Global
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A bumper gain in Japanese exports in October suggests that world trade growth is continuing to firm, consistent with the expectation here of faster global industrial output expansion into end-2014.

Eurozone recession fears echo misplaced 2013 UK scare

Simon WardClick for moreClick to follow:Simon Ward
279 Following
4 days ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
EuropeClick for moreClick to follow:Europe
385 Following

Current Eurozone triple-dip recession worries are reminiscent of a similar scare in the UK in early 2013*. Monetary trends and other evidence suggest that they will prove equally groundless.

UK inflation: headline weakness, core resilience

Simon WardClick for moreClick to follow:Simon Ward
279 Following
5 days ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
UKClick for moreClick to follow:UK
431 Following

Posts here from summer 2013 suggested that the trend in UK consumer price inflation would shift from down to up in spring 2014 in lagged response to faster monetary growth and associated economic strength. This forecast has proved wrong because of unexpected significant declines in global energy and food commodity prices and sterling strength.

Chinese money trends weakening again

Simon WardClick for moreClick to follow:Simon Ward
279 Following
6 days ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
EconomyClick for moreClick to follow:Economy

Chinese October activity news last week was satisfactory but slower monetary expansion suggests that further policy easing is required to keep economic growth on track.

Global Snapshot November 2014

6 days ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
GlobalClick for moreClick to follow:Global
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October was a difficult month. Economic data continued to show diverging trends, exemplified by manufacturing purchasing managers’ indices (PMIs) that showed ongoing strength in the US, but weakness among some eurozone and emerging economies.

Global leading indicators still positive

Simon WardClick for moreClick to follow:Simon Ward
279 Following
1 week ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
GlobalClick for moreClick to follow:Global
338 Following

The global leading indicators followed here were little changed in September and remain consistent with a recovery in industrial output growth.

UK earnings pick-up overshadows Inflation Report

Simon WardClick for moreClick to follow:Simon Ward
279 Following
2 weeks ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
UKClick for moreClick to follow:UK
431 Following

A September post suggested that UK average earnings growth was about to rise significantly, based on the historical relationship with job openings (vacancies).

Japanese money trends strengthening before QE boost

Simon WardClick for moreClick to follow:Simon Ward
279 Following
2 weeks ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following

Japanese monetary growth continued to pick up in October, suggesting an improving economic outlook and questioning the necessity of the Bank of Japan’s latest QE expansion.

Henderson Global Investors launches two new credit funds

3 weeks ago
Press releasesClick for moreClick to follow:Press releases
24 Following
 
Fixed IncomeClick for moreClick to follow:Fixed Income
264 Following

Henderson has further extended its fixed income offering with the launch of the Henderson Horizon Emerging Market Corporate Bond Fund and the Henderson Horizon Global Corporate Bond Fund. The funds will be managed by Steve Drew, Head of Emerging Market Credit and James Briggs, Fixed Income Fund Manager, respectively. 

The Luxembourg registered funds will have UCITS status and be denominated in US dollars.
 
The Emerging Market Corporate Bond Fund’s objective is to deliver a total return in excess of its benchmark*.

Henderson appoints Glen Finegan as Head of Emerging Market Equities

3 weeks ago
Press releasesClick for moreClick to follow:Press releases
24 Following
 
Emerging MarketsClick for moreClick to follow:Emerging Markets
220 Following

Henderson Global Investors has hired Glen Finegan as Head of Emerging Market Equities. He will join the Henderson team on 5 January 2015.

Japanese QE may remain ineffective without reserves rate cut

Simon WardClick for moreClick to follow:Simon Ward
279 Following
3 weeks ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following

The Bank of Japan (BoJ) has expanded QE to include equities using the Government Pension Investment Fund (GPIF) as a conduit. The BoJ will raise its rate of Japanese government bond (JGB) purchases by ¥30 trillion per annum, financed partly by creating more bank reserves.

UK money trends suggesting steady growth

Simon WardClick for moreClick to follow:Simon Ward
279 Following
1 month ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
UKClick for moreClick to follow:UK
431 Following

UK monetary trends remain solid, casting doubt on forecasts of an imminent economic slowdown – the consensus projection is for GDP growth to fall from 3.1% in 2014 to 2.6% in 2015, according to the Treasury’s monthly survey.

A world of difference – Seeking opportunities across the investment world

1 month ago
Federal ReserveClick for moreClick to follow:Federal Reserve 
GlobalClick for moreClick to follow:Global
338 Following
 
EquitiesClick for moreClick to follow:Equities
319 Following

Multi-Asset Investing requires a discerning eye to successfully navigate a vast landscape, say Bill McQuaker and Paul O'Connor, co-heads of the Henderson multi-asset team

Eurozone money trends also signalling improving outlook

Simon WardClick for moreClick to follow:Simon Ward
279 Following
1 month ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
EuropeClick for moreClick to follow:Europe
385 Following

Eurozone money measures grew solidly again in September, suggesting improving economic prospects and initial success for the ECB’s recent easing measures.

Japanese money trends signalling improving outlook

Simon WardClick for moreClick to follow:Simon Ward
279 Following
1 month ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following

Posts last year (e.g. here) suggested that Japanese economic and equity market performance would disappoint in 2014. This pessimism was based on the failure of QE to boost monetary growth significantly and the expected inflation impact of the April sales tax rise. The real money supply, in other words, was on course to contract, making continued economic expansion unlikely.

Proposed transaction to merge Old Mutual Property Fund into Henderson UK Property OEIC

1 month ago
Press releasesClick for moreClick to follow:Press releases
24 Following
 
UKClick for moreClick to follow:UK
431 Following
 
PropertyClick for moreClick to follow:Property
218 Following

This press release is solely for the use of members of the media and should not be relied upon by personal investors, financial advisers or institutional investors.

Old Mutual Global Investors and Henderson Global Investors have today announced a transaction whereby the Old Mutual Property Fund, currently run by CBRE Global Investors, will merge into the Henderson UK Property OEIC. The merger is set to complete in January 2015, subject to regulatory and client approval.

Chinese September data more evidence of global resilience

Simon WardClick for moreClick to follow:Simon Ward
279 Following
1 month ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
UKClick for moreClick to follow:UK
431 Following

Stronger-than-expected Chinese industrial output in September confirms that global production rebounded solidly last month, casting doubt on recent growth pessimism based partly on weak August data.

September data suggesting global industrial resilience

Simon WardClick for moreClick to follow:Simon Ward
279 Following
1 month ago
Economics & marketsClick for moreClick to follow:Economics & markets
522 Following
 
UKClick for moreClick to follow:UK
431 Following

A surprise August drop in global industrial output contributed to current market growth worries but incoming September data suggest a strong rebound.

Henderson Global Investors and Crux Asset Management announcement regarding Richard Pease and changes to the Henderson European Special Situations Fund

1 month ago
Press releasesClick for moreClick to follow:Press releases
24 Following
 
EquitiesClick for moreClick to follow:Equities
319 Following

Richard Pease will be leaving Henderson Global Investors (Henderson) to join Crux Asset Management (Crux), a new fund management company.



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