Where we see value today
Knowing that opportunities exist in these unsettled times is not the same as pinpointing where they can be found, understanding which trends have long-term potential or determining how to capitalize on these ideas. We continually investigate markets and events around the world to formulate our view, and we identify ways for investors to participate in opportunities that are consistent with our outlook. Our global perspective allows us to offer insights that we hope will deliver better outcomes for investors.
Some of our highest-conviction themes appear to the right. Click on the links to learn more about each of these potentially compelling opportunities.
Technology
Harnessing innovation
The technology sector is driven by innovation, and we look for growth areas such as smartphones and tablets, where ownership is increasing. We see opportunities to capitalize on trends in this sector through public and private markets.
U.S. Manufacturing
A U.S. industrial resurgence
Cheap U.S. natural gas and rising manufacturing costs in developing markets have led to early signs of a U.S. industrial resurgence. The effects can be seen in manufacturing employment, now rising faster than
non-manufacturing employment for the first time in
35 years.
Currencies and Commodities
Opportunities amid global turbulence
The Mexican peso remains one of our highest-conviction currencies, propelled in part by cheap valuations and strong exports. Within commodities, we still view gold as a core holding.
Energy
Capitlizing on the resource imbalance
The International Energy Agency estimates that $38 trillion will be invested in energy infrastructure over the next 25 years to keep pace with rising global demand. We're looking for investments that can potentially monetize this trend.
Improving global growth prospects, easing monetary policy and structural changes in emerging markets demand—as well as sustainable longer-term accumulation of reserves by key nations—should support higher oil prices.
Credit
Attractive income potential
Opportunities in both public and private credit markets offer potential for higher income. High yield1 currently remains attractive versus U.S. Treasuries, buoyed by strong issuer fundamentals.
PLEASE CLICK HERE TO READ IMPORTANT INFORMATION
1 High yield bonds are speculative, non-investment grade bonds that have higher risks of default or are subject to other adverse credit events, making them appropriate for high-risk investors only.
The views and strategies described herein may not be suitable for all investors. This information is not intended as an offer or solicitation for the purchase or sale of any financial instrument.