Investment Insights

 

New Zealand Equity Monthly (June 2025)

In June, New Zealand’s equity market performance largely reflected ongoing weakness in the country’s economy, with defensive stocks acting as the main drivers of performance.

New Zealand Fixed Income Monthly (June 2025)

With uncertainty over tariffs, geopolitical disruption and the paths taken by central banks continuing to impact global markets, it may be instructive to look back at the RBNZ’s last monetary policy decision as we try to determine the future direction of interest rates.

Navigating Japan Equities: Monthly Insights From Tokyo (July 2025)

This month we assess how Japan losing its place as the world's largest creditor in fact underscores the country's transformation over the years; we also discuss the recent crude oil market disruptions from a Japanese market perspective.

China's tech sector: the long march to innovation

With slowing growth and an ongoing trade war to handle, China appears to be in a crisis management mode. However, the country is at an inflection point where major structural shifts are occurring as it strives to climb up the technological value chain to achieve self-sufficiency via innovation and resourcefulness.

Global Investment Committee’s outlook: narrowing growth differentials

The GIC assesses that the probability of slower yet positive growth in the US has increased. The GIC anticipates a narrower growth gap between the US and other developed markets, with selective diversification into European and Chinese equities potentially paying off. The GIC believes that the risk premium offered by Japanese equities is now competitive with that of the US, although trade-related uncertainty is expected to linger.
US exceptionalism has faded from view recently, supporting an exodus from US assets. However, our stance remains that the US is core to our investment thesis, allowing us to remain part of the secular growth trend in technology innovation not found elsewhere in the world.
We continue to believe that Asia's local government bonds are positioned to perform decently, supported by accommodative central banks amid an environment of benign inflation and moderating growth.

FOMC: projections highlight heightened uncertainty in rate outlook

The Fed maintained interest rates at its June meeting, signalling a slightly more positive economic outlook. Despite easing of some risks, uncertainties remain elevated, with inflation still a key concern. FOMC members' varied rate projections reflect heightened uncertainty in the economic outlook.

New Zealand Equity Monthly (May 2025)

New Zealand’s climate-related disclosures regime came into effect for reporting periods beginning on or after 1 January 2023 and the first rounds of annual reports were released in 2024. Now that the second year of reporting is underway, we share some of the benefits and challenges we have found in the reporting process.

New Zealand Fixed Income Monthly (May 2025)

The RBNZ's interest rate cut in May was viewed as a hawkish reduction, with the central bank seen moving closer to the point at which it will consider pausing the cycle to observe the benefits the current monetary policy settings can bring to the economy.

Multi Asset Strategies to Capture Growth with Lower Volatility

Disruptive Innovation

The changing shape of China's economy