Articles

Quick view: French election — market-friendly round 1 win for Macron

by Andrew Mulliner

5 hours ago

The polls were right this time; Emmanuel Macron and Marine Le Pen are through to the second round of the French elections due on 7 May. Independent centrist Macron’s larger share of the votes has been greeted by relief in the financial markets. Andrew Mulliner, Portfolio Manager within the Henderson Fixed Income Investment Strategy Group, provides his reaction.

 
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French election reaction: Macron to macro

by Tom Ross

6 hours ago

​Tom Ross, credit portfolio manager, provides a quick comment on the result of the first round of the French presidential election and its impact on credit markets. 

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Quick view: UK snap election signals sterling strength

by Mitul Patel

6 days ago

UK Prime Minister, Theresa May, has called for a snap general election on 8 June 2017. Mitul Patel, Head of Interest Rates at Henderson, provides a brief reaction to the news.

 
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EM equities: positioning and opportunities (Q2 update)

by Glen Finegan

2 weeks ago

​Glen Finegan, Head of Emerging Market Equities, provides a detailed update on the Henderson Emerging Markets Equities Strategy, covering performance, investment activity, portfolio positioning and his outlook for the asset class.

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Has Europe finally broken its vicious cycle?

by Tim Stevenson

2 weeks ago

​Three months into 2017, Europe finally seems to have broken free of the economic uncertainty that has plagued it for a decade, yet the region remains priced at multi-decade lows versus the US, on a relative valuation basis. In this article, Tim Stevenson discusses the impact of irrational news on investor sentiment, and whether or not the market rotation we saw in the second half of 2016 is now fully ‘priced in’.

Tim covers:

  • Is fake news distorting rational thinking?
  • A long overdue return of earnings growth
  • Trump and Brexit fuel a trend of worry
  • Growth vs value – a matter of perspective
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AI: from science fiction to an attractive investment theme

Advances in computing power, the volume of data available and the speed and falling cost of data analysis have propelled artificial intelligence (AI) to the next paradigm shift in technology. Alison Porter, Richard Clode and Graeme Clark, portfolio managers in Henderson’s Global Technology Team, discuss this investment theme, its strong potential and where they believe the best opportunities lie.

 
 
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Earnings upgrades bode well for Asian dividends

by Michael Kerley

3 weeks ago

The performance of many income strategies has suffered over the past six months. However, Michael Kerley, co-manager of the Henderson Asian Dividend Income Strategy, believes the prospects for income investing in Asian stocks are improving. Here, he explains the reasons for this and details how his portfolios are currently positioned to best capture attractive opportunities in the region.  

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Miners’ discipline brightens global natural resources outlook

by David Whitten

3 weeks ago

​​David Whitten, Head of Henderson’s Global Natural Resources Team, is encouraged by early moves by major mining players to lift returns across the diversified resources sector and sees a renewed focus on long life, low cost, high return assets.

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Brexit – deal or no deal?
Paul O’Connor, Head of Multi-Asset, examines the implications of the UK triggering Article 50 of the Treaty of Lisbon, which formally begins the process of the UK’s withdrawal from the European Union (EU).
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Credit in the spotlight

by Tom Ross

1 month ago
A busy political calendar, robust economic data and shifting monetary policy are creating a potent mix for investors. In this five-minute update, Tom Ross, Credit Portfolio Manager, explores the outlook for credit markets.
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Quick view: Election relief masks reform impetus

by Tom Ross

1 month ago

​Tom Ross, Credit Portfolio Manager, comments on the outcome of the Dutch election, noting that while the result has stemmed the tide of populism for now, reform is still on the agenda.

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Quick view: Fed hike with dovish undertones

by Mitul Patel

1 month ago

As expected the US Federal Reserve (Fed) delivered a 25 basis point rate increase (to a target range of 0.75-1.0%) at the 15 March meeting of the Federal Open Market Committee (FOMC), the rate setting body of the Fed. Henderson’s Mitul Patel, Head of Interest Rates, shares his views on the hike — the third since December 2015 — and the outcome of the subsequent press conference with the Fed Chair Yellen.

 
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Quick view: Fed hike reaction - US economy “doing well”

The Henderson Geneva US Equity Growth Team responds to the US Federal Reserve (Fed)’s decision to increase interest rates at its latest meeting.

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Property equities: profiting from pockets of growth

by Guy Barnard

1 month ago
Guy Barnard, Manager of the Pan European Property Equities Strategy and Co-Head of Global Property Equities, comments on how the sector has been affected by the market rotation from growth to value stocks. He also discusses how the strategy is benefiting from this shift as the team is discovering more mispricing opportunities and continuing to target countries, cities and sectors that offer attractive growth potential.
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Emerging Market Corporate Credit: evolution and opportunities

by Steve Drew

1 month ago
Emerging market (EM) corporate credit grew out of the sovereign bond market over a decade ago and has since grown significantly to reflect a greater diversity of countries, sectors and issuers. Outstanding volumes of hard currency EM corporate debt now surpass those issued by EM sovereigns. Additionally, the EM corporate bond market has evolved into an asset class that is more similar to that of developed market corporate bonds.

Steve Drew, Head of Emerging Market Credit at Henderson, explains how the EM corporate bond asset class has evolved over the years. Discussing past trends and sharing his views on future trends, Steve lays down the arguments for a strategic allocation to the asset class.
 
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‘Cheesegrater’ sale highlights UK property market divergence

by Guy Barnard

2 months ago
​Guy Barnard, Co-head of Global Property Equities, comments on the recent sale of The Leadenhall building, the largest ever property transaction in the UK. While uncertainty about the outlook for UK property has increased following the Brexit vote, the deal highlights the divergence between the direct and listed property markets with continued foreign interest in key London assets.
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China investment themes: the internet

by Charlie Awdry, May Ling Wee

2 months ago
In the second instalment in a series of articles on key Chinese investment themes, Charlie Awdry and May Ling Wee, China equity portfolio managers, discuss how the rapid adoption rate of the internet, supportive demographics and embracing of social media are leading to attractive investment opportunities in internet stocks, particularly in social media advertising and mobile gaming.
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The case for active managers in a post-QE world

​Nick Watson, Fund Manager within Henderson’s Multi-Asset Team, explores the strengthening case for allocating to actively managed strategies. While the team is able to allocate to passive and active vehicles, Nick explains that market drivers currently support the case for the latter.

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Inflation is back – what are the implications?

by Luke Newman, Simon Ward

2 months ago

Inflation is back. The fall in the value of sterling since the Brexit vote has continued. What does this mean for investors with exposure to the UK?

Henderson, in conjunction with Citywire and the UK’s Sunday Times newspaper, asked three experts to give their perspectives on the effects of rising inflation and the main issues for the UK economy and investors.

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The Philippines — a structural growth story

by Steve Drew

2 months ago

​The Philippines has one of the fastest growing economies in Asia, thanks in part to its favourable demographics and its sound fiscal fundamentals. In this report, we explore why the country’s healthy macroeconomic environment makes for a compelling investment opportunity in its hard currency bonds.

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