With the stunning achievement of landing a robot on a comet last week, robots and their capabilities have hit the headlines again. This robot enabled progress for science, but what can robots do for sustainability? Read more …
On 4 November the Republican Party in the US made significant gains in the mid-term elections and took control of the Senate and various gubernatorial posts. This splits political power decisively, with the Republicans controlling the legislature and the Democrats the executive branch (i.e the Presidency).
Immediately our inboxes filled with commentary by research analysts, telling us that political gridlock has always been good for American stocks. As explained in our last blog here, the USA represents an unusually large proportion of the global benchmark and hence our own regional exposure. So at first glance, this looks like good news.
I wrote last year about how our investment process enables us to focus on stock selection. For the vast majority of global funds, regional allocation accounts for the bulk of performance divergence from the benchmark. Given the significance of this driver of performance most global fund managers should be spending most of their time assessing the relative merits of differing regional allocations.