India: Look before you leap
India might be the biggest growth story in emerging markets; the world’s most populous country has demonstrated better economic performance than the rest of the emerging market universe since the mid-teens, with GDP growth averaging over 5.5% annually since 2017. Source: Bloomberg as of 31 January 2025. The information shown above is for illustrative purposes. […]
Shock to the system
The US electrification revolution and what it means for investors The US power sector is on the cusp of a profound transformation, driven by surging demand for electricity. This seismic shift is creating multi-decade opportunities for investors, particularly those with a focus on grid modernisation, digitisation, and decarbonisation. Three compelling charts highlight the scale of […]
Webinar: 25 unsustainable charts for 2025
When the line on a chart goes parabolic, it often tells you something about the mindset of investors; they are extrapolating recent gains into the future, are fearful of missing out and are more focused on potential reward than any notion of risk. Whilst one or two charts climbing vertically upwards might be explainable, we […]
US exceptionalism and the illusion of endless growth
2025 is a rare year. It’s a perfect square (45²), the sum of cubes from 13 through 9, the first perfect square year since 1936 and the next one won’t arrive until 2116. 2025 is also a year of rare market conditions that have only been seen a few times in history.
Statement regarding the proposed acquisition of ReNew Energy Global plc
10th February 2025 – This statement relates to the proposed acquisition of the entire issued and to be issued share capital of ReNew Energy Global Plc (“ReNew” or “the Company”) for $7.07 per share by a consortium of Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC Limited […]
Long-Term Investors See Value in the Renewables Space
Over the past few quarters, investors in the renewables power generation sector have pushed down valuations, questioning growth and return opportunities following a confluence of headwinds. However, while the stock market remains sceptical, we have seen private equity firms, utilities and renewables companies themselves conclude that valuations are now too attractive to ignore. We believe […]
What is the real impact of innovation on economic growth?
A wake-up call for investors in the AI era Global markets are in the grip of Artificial Intelligence (AI) euphoria. Current valuations[1] imply that AI will change everything, revolutionising industries and reshaping the way we work, travel and communicate. Central to the investment narrative is the expectation that AI will unlock massive productivity gains: automating […]
Monopoly money: Playing games and investing wisely
Sometimes, it is better to be lucky than smart. This adage was exemplified in the heat of the Second World War by the British Secret Service’s MI9 division, who were looking for innovative ways to smuggle escape kits to British prisoners of war (“POWs”) held captive across enemy lines. They had two particularly thorny problems […]
The big get bigger – concentrating on the “Fab Four”
Investors have become familiar with the “Magnificent 7” US stocks that have been important contributors to index returns and comprise over a quarter of the benchmark S&P 500 weight (as at 31 October 2024). The MSCI Emerging Markets Index has an equivalent “Fab Four” stocks, sectors and countries that have come to dominate its composition […]
Greenwheel research: Climate Adaptation in Emerging Markets in a 1.5°C World
This research from our sustainability insights partner, Greenwheel, is the first in a series identifying the relative gaps between need and capacity to create demand for adaptation solutions in emerging markets.