Insights and research

The expert opinion and research driving our investment decisions.

Insights

Insights15 May 2025

Economic infrastructure update Q1 2025

Read more about the key achievements across our portfolio companies in the first quarter of 2025

7 min Read

Insights14 May 2025

Future Minerals: From underground to building blocks of tomorrow

Future minerals are critical to the green transition. Even though demand is forecast to snowball there are serious constraints on supply. Here’s why investors should take notice.

4 min Read

Insights14 May 2025

Future Minerals: why utility and scarcity make a winning union

Demand for ‘future minerals’ vital to the green transition is set to take off. Here’s the why, and how, you should consider playing the start of this new ‘super cycle’.

4 min Read

Insights14 May 2025

What Trump’s trade war means for EM local currency bonds

Kieran Curtis considers the outlook for emerging market local currency bonds amid the US-led global trade war.

3 min Read

Insights13 May 2025

Emerging markets income equity: confidence and recovery in Asia

Matt Williams, Senior Investment Director on the Global Emerging Markets desk, reports back on some long-term positives for the region.

4 min Read

Insights12 May 2025

100 days later: are all countries emerging markets now?

In the latest episode of the Emerging Market Equities podcast, Nick talks with Bob to discuss Trump's first 100 days in office.

28 min Listen

Insights09 May 2025

April 2025 EMD Review and Outlook: Tariff tantrums

Our summary of developments in emerging market debt in April 2025 and outlook.

4 min Read

Insights09 May 2025

European real estate market outlook Q2 2025

The outlook for European real estate returns has improved in recent quarters, despite an increase in the risk backdrop.

11 min Read

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Global Macro Research

Global Macro Research19 May 2025

So was the trade war all just a fever dream?

In this new episode, we unpack the surprise US-China tariff truce, how it may influence other tariff negotiations and whether investors can finally relax.

32 min Listen

Global Macro Research15 May 2025

The Monthly Macro Outlook Video - May 2025

How might new tariff developments impact the global economy? Paul Diggle provides his latest analysis to help you navigate the constantly shifting terrain.

6 min Watch

Global Macro Research01 May 2025

The end of US exceptionalism?

In our latest podcast, Paul Diggle and Luke Bartholomew consider whether US exceptionalism is over.

30 min Listen

Global Macro Research29 Apr 2025

Carney wins Canadian election amid tariff turmoil

US tariffs have significantly impacted the Canadian election held on Monday. The Liberal Party, led by Prime Minister Mark Carney, won over Pierre Poilievre’s Conservatives. But, despite the victory, the policy agenda will be constrained by the impacts of tariffs and a possible Canadian recession.

1 min Read

Global Macro Research17 Apr 2025

China: waiting for the shock

The latest economic data give President Xi little reason to back down. That said, as the impact of the trade war becomes visible on both sides of the Pacific, we expect China and the US to come to the negotiating table.

1 min Read

Global Macro Research14 Apr 2025

Tariffs: our latest analysis

Read our current thinking on tariffs here.

1 min Read

Global Macro Research11 Apr 2025

Tariff uncertainty dominates

We forecast a meaningful slowdown in global growth caused by the sharp increase in US tariffs on the rest of the world. In the US, this will play out as a stagflationary shock, although some monetary easing is still likely. For the rest of the world, this is a negative growth and inflation shock, into which central banks will cut rates.

1 min Read