Ninety One | The Big Picture podcast

Inflation – ‘sticky’ for longer?

Predictions of the demise of inflation were seemingly premature after key releases from the US and UK last week. Will it remain ‘sticky’ and thus keep interest rates elevated? Iain Cunningham analyses the fundamentals, the inverted rate curve and the implications for the world’s economic growth.

Getting the most out of emerging market debt

Discover what the full EM debt opportunity set can do for you and how best to navigate it.

Value insights: When pricing power becomes a superpower

For long-term investors, pricing power and brand equity can be highly desirable qualities in a business. Value investors should keep them on their radar, for when the price is right.

Notes from the road: Africa

In the wake of a bruising year that took yields and credit spreads to historic highs in Africa’s debt markets, Thys Louw’s recent trip uncovers an increasingly diverse landscape.

Notes from the road: Colombia and Peru

Nicolas Jaquier reports on his recent trip to Colombia and Peru, where political risks are receding and sustainable finance opportunities are emerging.

In conversation: A disorderly transition

To get to net-zero we have to finance the high emitting sectors and regions from a state of high carbon to a state of low carbon. The path to getting there is not simple or clear. Head of Thematic Equity Tom Nelson and Sustainability Specialist Annika Brouwer discuss the disorderly transition that is underway.

What the collapse of SVB means for investors

The investment world has been rocked by two bank failures in the US and a crisis at a Swiss giant. Financial authorities have stepped in to soothe fears of a contagion and yet investors’ nerves are still raw. Philip Saunders argues that this is a healthy development for the long term.

Notes from the road: South East Asia

Wilfred Wee shares takeaways from a recent trip to Malaysia and Indonesia.

EM Perspectives: takeaways from our annual seminar

With emerging markets returning to the agenda of many of the world’s biggest asset allocators, our annual two-day investor workshop has made a timely return.

Why gold has regained some of its lustre

Resources prices and the value of producers’ shares are being pushed and pulled by a variety of complex factors, both self-made and external. George Cheveley shares insights gained from conferences abroad, where he has been both a speaker and delegate, and pays particular attention to gold, a metal that has recently regained some of its lustre.

Why corporates must act

Written by independent researchers from Imperial College London and Reading University through Imperial Consultants, this paper looks at the physical risks of climate change and its potential impact on corporates and financial markets.

The case for Emerging Market Equities

We believe the case for investing in emerging market equities is compelling. The past decade could be characterised as more risk than return for emerging markets but Varun Laijawalla and Archie Hart highlight why they believe the asset class is an interesting proposition for investors.

SVB's failure

The investment world was recently rocked by a bank failure. It was a niche bank but nonetheless important, as its demise highlights the impact of repeated and rapid rate rises. Iain Cunningham explains why this may be the beginning of a problem, not the end.

What the inverted yield curve foretells

For decades an inverted yield curve has unerringly predicted recession in the US and beyond. The margin between the 2-year and the 10-year bonds in the US is around 100 basis points, so despite robust economic data, the future is uncertain. Last week Philip Saunders discussed the theory and implications for the global economy.

SVB Financial - a consequence of exiting false equilibrium

Portfolio Manager Iain Cunningham discusses how the failure of SVB Financial is a consequence of something much bigger - and how we might be facing the start, rather than the end, of a broader cycle of delinquency, default and bankruptcy.

Emerging Market Debt Indicator February 2023

Following a recent trip to Brazil and Mexico, Christine Reed reports on a deeply contrasting picture. In addition, the wider investment team provides an update across the EM debt universe.

Value insights: Stickyflation

This year’s rally appears based on the assumption that inflation will quickly dissipate. However, the ‘sticky’ components of inflation are proving stickier than expected. It’s worth remembering that markets are notoriously bad at recognising turning points.

A disorderly transition

Evidence suggests the transition to a low-carbon economy will be disorderly. By allocating to ‘transition assets’, investors can mitigate some of the disorder, while potentially generating positive outcomes for their portfolios. This paper makes the case for transition investing, and explains how to identify a true ‘transition asset’.

International Energy Week: the focus on transition

International Energy Week used to be ‘Petroleum’ week. The need for these companies to be the drivers of the energy transition is paramount, but the transition is not an overnight process. Tom Nelson explains the importance of the transition from the old hydrocarbon energy world to a new green revolution, but also emphasises that the process must be managed carefully by the producers, and monitored by an investment community that is becoming ever more vigilant about sustainability and the environment.

Notes from the road: Brazil and Mexico

Christine Reed’s recent trip to Brazil and Mexico revealed a deep contrast in local sentiment and highly divergent outlooks.

Inflation – ‘sticky’ for longer?

Predictions of the demise of inflation were seemingly premature after key releases from the US and UK last week. Will it remain ‘sticky’ and thus keep interest rates elevated? Iain Cunningham analyses the fundamentals, the inverted rate curve and the implications for the world’s economic growth.

Getting the most out of emerging market debt

Discover what the full EM debt opportunity set can do for you and how best to navigate it.

Value insights: When pricing power becomes a superpower

For long-term investors, pricing power and brand equity can be highly desirable qualities in a business. Value investors should keep them on their radar, for when the price is right.

Notes from the road: Africa

In the wake of a bruising year that took yields and credit spreads to historic highs in Africa’s debt markets, Thys Louw’s recent trip uncovers an increasingly diverse landscape.

Notes from the road: Colombia and Peru

Nicolas Jaquier reports on his recent trip to Colombia and Peru, where political risks are receding and sustainable finance opportunities are emerging.

In conversation: A disorderly transition

To get to net-zero we have to finance the high emitting sectors and regions from a state of high carbon to a state of low carbon. The path to getting there is not simple or clear. Head of Thematic Equity Tom Nelson and Sustainability Specialist Annika Brouwer discuss the disorderly transition that is underway.

What the collapse of SVB means for investors

The investment world has been rocked by two bank failures in the US and a crisis at a Swiss giant. Financial authorities have stepped in to soothe fears of a contagion and yet investors’ nerves are still raw. Philip Saunders argues that this is a healthy development for the long term.

Notes from the road: South East Asia

Wilfred Wee shares takeaways from a recent trip to Malaysia and Indonesia.

EM Perspectives: takeaways from our annual seminar

With emerging markets returning to the agenda of many of the world’s biggest asset allocators, our annual two-day investor workshop has made a timely return.

Why gold has regained some of its lustre

Resources prices and the value of producers’ shares are being pushed and pulled by a variety of complex factors, both self-made and external. George Cheveley shares insights gained from conferences abroad, where he has been both a speaker and delegate, and pays particular attention to gold, a metal that has recently regained some of its lustre.

Why corporates must act

Written by independent researchers from Imperial College London and Reading University through Imperial Consultants, this paper looks at the physical risks of climate change and its potential impact on corporates and financial markets.

The case for Emerging Market Equities

We believe the case for investing in emerging market equities is compelling. The past decade could be characterised as more risk than return for emerging markets but Varun Laijawalla and Archie Hart highlight why they believe the asset class is an interesting proposition for investors.

SVB's failure

The investment world was recently rocked by a bank failure. It was a niche bank but nonetheless important, as its demise highlights the impact of repeated and rapid rate rises. Iain Cunningham explains why this may be the beginning of a problem, not the end.

What the inverted yield curve foretells

For decades an inverted yield curve has unerringly predicted recession in the US and beyond. The margin between the 2-year and the 10-year bonds in the US is around 100 basis points, so despite robust economic data, the future is uncertain. Last week Philip Saunders discussed the theory and implications for the global economy.

SVB Financial - a consequence of exiting false equilibrium

Portfolio Manager Iain Cunningham discusses how the failure of SVB Financial is a consequence of something much bigger - and how we might be facing the start, rather than the end, of a broader cycle of delinquency, default and bankruptcy.

Emerging Market Debt Indicator February 2023

Following a recent trip to Brazil and Mexico, Christine Reed reports on a deeply contrasting picture. In addition, the wider investment team provides an update across the EM debt universe.

Value insights: Stickyflation

This year’s rally appears based on the assumption that inflation will quickly dissipate. However, the ‘sticky’ components of inflation are proving stickier than expected. It’s worth remembering that markets are notoriously bad at recognising turning points.

A disorderly transition

Evidence suggests the transition to a low-carbon economy will be disorderly. By allocating to ‘transition assets’, investors can mitigate some of the disorder, while potentially generating positive outcomes for their portfolios. This paper makes the case for transition investing, and explains how to identify a true ‘transition asset’.

International Energy Week: the focus on transition

International Energy Week used to be ‘Petroleum’ week. The need for these companies to be the drivers of the energy transition is paramount, but the transition is not an overnight process. Tom Nelson explains the importance of the transition from the old hydrocarbon energy world to a new green revolution, but also emphasises that the process must be managed carefully by the producers, and monitored by an investment community that is becoming ever more vigilant about sustainability and the environment.

Notes from the road: Brazil and Mexico

Christine Reed’s recent trip to Brazil and Mexico revealed a deep contrast in local sentiment and highly divergent outlooks.

Inflation – ‘sticky’ for longer?

Predictions of the demise of inflation were seemingly premature after key releases from the US and UK last week. Will it remain ‘sticky’ and thus keep interest rates elevated? Iain Cunningham analyses the fundamentals, the inverted rate curve and the implications for the world’s economic growth.

Getting the most out of emerging market debt

Discover what the full EM debt opportunity set can do for you and how best to navigate it.

Value insights: When pricing power becomes a superpower

For long-term investors, pricing power and brand equity can be highly desirable qualities in a business. Value investors should keep them on their radar, for when the price is right.

Notes from the road: Africa

In the wake of a bruising year that took yields and credit spreads to historic highs in Africa’s debt markets, Thys Louw’s recent trip uncovers an increasingly diverse landscape.

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What the collapse of SVB means for investors

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What the collapse of SVB means for investors

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