Artikel

Europa und die Welt der „alternativen Fakten“

von Tim Stevenson

vor 3 Tagen
Der europäische Aktienfondsmanager Tim Stevenson diskutiert die ungewisse politische Situation in Europa und weshalb eine “langweilige aber zuverlässige“ wirtschaftliche Entwicklung Gutes für Banken und regeneriende Unternehmen der Region bedeuten könnte.

 
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A reflationary world: asset allocation considerations

​Nick Watson, portfolio manager within Henderson’s Multi-Asset Team, discusses how the team has been implementing some of its key thematic calls. He explains how positioning is aligned to their outlook for steady recovery, inflation normalisation and the end of super-easy monetary policy.

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Global leading indicator strong but momentum possibly peaking

von Simon Ward

vor 2 wochen

​The OECD’s country leading indicators are giving an upbeat message for the global economy in early 2017, in line with an earlier positive signal from monetary trends. The indicators have yet to confirm the suggestion from the latest monetary data that global economic momentum will fade towards mid-year.

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China investment themes - travel and leisure

von Charlie Awdry, May Ling Wee

vor 2 wochen
In the first in a series of articles on key Chinese investment themes, Charlie Awdry and May Ling Wee, China equity portfolio managers, discuss the consumption story, which remains steadfast as economic growth stabilises. The managers explain why they think investors with a selective approach can capitalise on this long-term progressive trend and share some of their stock picks for the sector.
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US swap spread echoing cautionary monetary signal

von Simon Ward

vor 2 wochen

​US narrow money trends suggest a moderation of economic growth in the spring / summer – see post from last week. The two-year swap spread has also led economic fluctuations historically and is giving a similar cautionary message.

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Global money trends cooling

von Simon Ward

vor 2 wochen

​Global six-month real narrow money growth fell further in December, suggesting that the world economy will lose momentum during the second half of 2017.

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Quick view: the Old Lady takes a neutral policy stance

von Mitul Patel

vor 3 wochen

Financial markets were watching London’s Threadneedle Street today for the Bank of England’s Super Thursday, which delivers the latest interest rate decision, a quarterly inflation report and minutes of the Monetary Policy Committee meeting, followed by a press conference.

Henderson’s Mitul Patel, Head of Interest Rates, shares his views on the bank’s latest policy stance and forecasts for growth and inflation.

 
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What are the key factors shaping global equity income investing?

von Ben Lofthouse

vor 3 wochen
In this video update, Ben Lofthouse, Global Equity Income portfolio manager, explains the recent market rotation from defensive to cyclical stocks, examines key risks and opportunities for global equity income investors and discusses the impact of corporate earnings trends and potential US rate rises.
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US money trends suggesting mid-year "soft patch"

von Simon Ward

vor 3 wochen

​The US economy picked up speed in the second half of 2016 and has started 2017 strongly. This acceleration was predicted by monetary trends, which now suggest a slowdown over the spring and summer.

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John Bennett: Europäische Banken und Value-Chancen

von John Bennett

vor 3 wochen

John Bennett, Leiter des europäischen Aktienteams, beschäftigt sich mit der Rotation von „Growth“- zu „Value“-Aktien und was das für Anleger in Europa bedeutet. Er erläutert seine taktischen Allokationen, bevor die Rotation richtig Fahrt aufnahm, und die für ihn wichtigsten Katalysatoren für einen Aufwärtstrend bei europäischen Banken.

John Bennett behandelt folgende Themen:

  • Von „Growth“ zu „Value“ – oder eine bedeutende Trendwende
  • „Neujustierung“ der Strategie
  • Aussichten für europäische Banken
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Henderson Global Care Growth Strategy: Positive impact stocks

Hamish Chamberlayne and Nick Anderson, managers of Henderson's sustainable investment strategy, explain their approach to stock selection. This document introduces stocks favoured within the Global Care Growth Strategy, grouped by theme, together with an explanation of the positive environmental and/or social impact that the managers have identified for each company.

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Global capital flows turning less US dollar-positive

von Simon Ward

vor 1 monat

​Super-loose monetary policies resulted in the combined net outflow of portfolio capital from the Eurozone, Japan and China – disguised or hidden in China’s case – surging to a record in 2016.

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Credit round-up: which factors will have the biggest impact on markets this year?

von Stephen Thariyan

vor 1 monat
What are the key factors affecting the outlook for European and sterling corporate bond markets in 2017? Stephen Thariyan, Global Head of Credit, examines the many factors with the potential to alter the path of markets this year, including  the durability of the Trump rally, inflation expectations, improvements for banks, issuance and Brexit developments.
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Macroeconomic uncertainty a certainty for China in 2017

von Charlie Awdry

vor 1 monat
In this video, Charlie Awdry, China equities manager, provides a brief macro update. The start of 2017 has seen further Chinese government intervention in the currency markets and President Xi promoting globalisation at a time when other countries are becoming more inward looking. Charlie also discusses the indicators he is monitoring to ascertain the future shape of US-China relations under President Trump and why this year’s Party Congress could signal a spell of economic stability in the short term.
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Unternehmensanleihenmärkte im Überblick: Welche Faktoren werden die Märkte 2017 am stärksten beeinflussen?

von Stephen Thariyan

vor 1 monat
Welche Faktoren werden die Aussichten für die europäischen und britischen Unternehmensanleihenmärkte in 2017 am stärksten beeinflussen?  Stephen Thariyan, globaler Leiter des Bereichs Credit, analysiert die vielen Faktoren, die die Richtung an den Märkten in diesem Jahr beeinflussen könnten. Dabei geht er vor allem auf die Trump-Rally und die Frage, ob sie sich fortsetzt, die Inflationserwartungen, die besseren Rahmenbedingungen für Banken, die Emissionstätigkeit und die Entwicklungen in Sachen Brexit ein.
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The case for total return fixed income investing

von Phillip Apel

vor 1 monat

​There are growing signs that we have passed the peak of monetary policy impact and have seen the low in global bond yields, with the focus turning more towards the reflationary effects of fiscal policy. Divergent economic policies across the globe create different risks. In the US, where the rate cycle is more advanced, protecting against the potential impact of rising rates is paramount. Contrast that with the eurozone, where the European Central Bank (ECB)’s policy of negative interest rates has left an entrenched hunt for yield.

This is a challenging environment, but one in which funds that employ total return strategies, focusing on capital growth and income, have scope to both shelter capital during stormy conditions in the bond market, and use their wide remit to seek higher return opportunities outside of traditional sectors.

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Tesla’s giant awakens

von Hamish Chamberlayne

vor 1 monat

​Hamish Chamberlayne, portfolio manager for Henderson’s global sustainable equity strategy, provides an update on Tesla as its Gigafactory begins battery cell production. He explains how Tesla’s ambitions for a low carbon revolution extend beyond electrifying the automotive industry.

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Chinese GDP inflation surge arguing for tighter policy

von Simon Ward

vor 1 monat

​Chinese nominal GDP growth strengthened significantly in late 2016 and monetary trends suggest a further pick-up through the first half of 2017, at least.

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How will growth and inflation shape fixed income markets in 2017?

von Phillip Apel, Andrew Mulliner

vor 1 monat
Henderson Fixed Income Investment Strategy Group (ISG) members, Phil Apel, Head of Fixed Income, and Andrew Mulliner, Portfolio Manager, reflect on the main factors driving markets into year-end and share their expectations for sources of returns in 2017.
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Quick view: May’s 'hard Brexit' offers Hobson’s choice

​Ryan Boothroyd from Henderson’s Multi-Asset Team reacts to Theresa May’s ‘Brexit’ speech, which outlined plans for the UK to leave the European Union (EU) single market.

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