In 2024, the US dominated the investment narrative. However, we believe investor interest should shift towards Europe as the negative newsflow in the region turns around.
One key driver of economic recovery should be the declining interest rate backdrop, although we are yet to see increased consumer spending or corporate investment; this, however, presents a significant opportunity for investors.
Our portfolios are positioned to take advantage of this anticipated recovery and through our bottom-up investment process we have identified several undervalued European companies where, in our view, the upside could be meaningful.
00:00 – Intro
00:45 – 2024 Performance
01:48 – Market conditions and confidence going forward
03:49 – Investment narrative in Europe reflect fund positioning
05:26 – Europe - A quality transition opportunity
07:26 – Quality transition thesis
10:16 – Patience as a portfolio characteristic
11:29 – Conversation regarding holdings and performance
13:24 – Stock case study: Smurfit Kappa
16:06 – Other metrics for opportunities
16:54 – Market neutral value vs sector neutral value
19:02 – Recap and conclusion
20:53 – Close
Investors who try to anticipate which businesses, industries and sectors might gain from the pronouncements of the US Federal Reserve are likely to lose plenty of sleep – and possibly more besides. We’re more interested in stocks that are capable of thriving throughout economic cycles.
As economic growth stalls and fewer small and medium-sized businesses choose to list in the UK, we explore policy measures that could help provide a boost to the sector.
What percentage of an investment portfolio can retirees withdraw without outliving their money? We look at Bengen’s 4% rule and its relevance for global equity investors.
The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.
Data as at 17.12.2024, unless otherwise stated.
This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy.
Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. Views and opinions are based on current market conditions and are subject to change.
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