Why the best stories often don’t make good investments
A handful of global companies have provided outsized returns this year, creating both risks and opportunities. Sometimes, the best businesses don’t make the best investment cases.
Global
2024 Investment Views: Quality equities
Fundamentals to be the differentiator
Clyde Rossouw explains why he believes that the market will broaden out from its narrow leadership, and stocks that deliver consistent earnings and free cash flow growth could be 2024’s winners.
27 Nov 2023
4 minutes
Clyde Rossouw
Neil Finlay
Quality equities | Q&A with Clyde Rossouw
Hear Clyde, Head of Quality, discuss the prospects for investing in 2024.
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Quality equities - latest insights
Beware the crowded trade
The current market has rewarded momentum and penalised discipline. If investors turn their attention to the rising concentration and valuation risks present in the market and the AI theme becomes less dominant, we expect the defensive quality attributes of select stocks to come back into favour.
The Secret Seven: Undervalued firms at the heart of AI infrastructure
The AI boom increasingly depends on hardware. A small group of emerging market firms sit at the physical limits of that infrastructure, yet still trade at deep discounts. The “Secret Seven” may represent one of the most overlooked opportunities in global equities.
The great rebalancing
A new cycle reshaping global equity leadership.
Cool, calm and AI-exposed
Often beneath the radar, high-quality businesses are quietly positioned to benefit from AI, with resilience and staying power.
Hiking the narrow ridge: seven market themes for investors
Clyde Rossouw, Head of Quality at Ninety One, offers investors a map as they navigate shifting US policy, dollar uncertainty and sharp market swings.
LSEG: a critical artery of the global financial system
London Stock Exchange Group (LSEG) might not be a household name, but it’s a quality one. Frederick Kerr-Smiley explains how the company helps customers through the trading lifecycle, saving them money along the way. What’s more, LSEG has maintained its market leadership through significant technological changes across the financial industry, an attribute that cements its place in our Quality team’s universe.
The great market shift – how market dislocation benefits active investors
This isn’t just another market cycle – it’s a structural shake-up. Clyde Rossouw explores how an active strategy, built on quality, can weather disruption and uncover opportunity.
Nintendo: an innovative giant
Gaming isn’t just fun; it can deliver compelling returns. Abrie Pretorius explains why Nintendo’s ability to continually innovate has helped build an unmatched portfolio of titles and lock in an army of adoring customers.
Quality earnings are more predictable than the market
Clyde Rossouw explains why investors who buy businesses that have realisable growth – not the promise of growth - should be well placed in 2025.
Navigating narrow markets: The importance of stock-specific drivers
4Factor’s Rhynhardt Roodt reflects on a strong year for equity market momentum and considers where best to focus in 2025.
Balancing the promise and perils of AI
Capturing structural growth potential is not easy, but in uncertain markets, it’s essential. Today, investors are eager to understand more about the potential opportunities in Artificial Intelligence (AI). Head of Quality Clyde Rossouw explains why exposure to higher quality companies can successfully position investors for an AI-driven future.
Quality: An evolution of positioning, but not principles
Clyde Rossouw explains why the inherent adaptability of his team’s Quality approach has enabled the constituents of Global Franchise to evolve over time, without compromising their purist quality philosophy.
Looking into Alcon
Quality companies can be found across many sectors, providing they possess some key attributes. In this short video, portfolio manager Abrie Pretorius details why our Quality team believes that Alcon – with its dominant position in the eye care market and strong balance sheet – is well placed to benefit from the structural growth opportunity that the industry offers.
Digesting the result from a Quality perspective
While there has been some short-term volatility in the immediate aftermath of the decisive election result, Clyde Rossouw explains why the direction of travel over the longer term is likely to be supportive for a quality approach based on earnings resilience.
Navigating an increasingly concentrated market
The narrow leadership in global equities is unprecedented. It is also dangerous. Clyde Rossouw explains why markets do not appear as healthy as the headlines suggest, and that there are several warning signs that investors should be cognisant of.
Making holidays profitable
Travel is an attractive industry to look for investment opportunities. In this short video, analyst Joe Thomas talks us through why our Quality team believes that Booking Holdings – with its strong competitive position and capital light business model – is well placed to ride the structural growth wave that the industry offers.
Why the best stories often don’t make good investments
A handful of global companies have provided outsized returns this year, creating both risks and opportunities. Sometimes, the best businesses don’t make the best investment cases.
Global Insights 2023
2023 has been a year of defining change, with much of the world adapting to higher interest rates. See below for key takeaways from the sessions with our portfolio managers.
Notes from the road: scratching beneath the surface
China’s economic recovery has been tepid at best, with macro data weaker than expected. But what’s actually happening on the ground? Mendy Zhang shares some of her observations from her recent visit.
Position for growth in 2023
As the interest rate environment begins to normalise in 2023, we believe investors should seek exposure to those companies with access to growth opportunities.
2024 Outlook
2024 Investment Views
27 Nov 2023
2024 Investment Views
A radical reset in borrowing costs has changed the rules of the game for investors. Explore our global and emerging market outlooks and hear our portfolio managers discuss what this shift in market regime means for investors.
Explore our views
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