Public markets
Global Equities
Invest in the businesses shaping tomorrow
Equity investing connects capital with corporate earnings, innovation and long-term economic growth. We consider companies, sectors and regions within a wider portfolio, rather than relying on a single market theme.
- Portfolio role
- Long-term growth potential
- Key considerations
- Earnings, valuations, concentration and market liquidity.
Public markets
Fixed Income & Bonds
A considered approach to income and credit
Government and corporate bonds introduce different sources of income and economic sensitivity. Credit quality, interest-rate exposure and maturity are considered together when assessing their role in a diversified portfolio.
- Portfolio role
- Income and portfolio balance
- Key considerations
- Interest rates, issuer credit, inflation and liquidity.
Real economy
Energy & Oil
Capital where the world gets its energy
Energy links financial markets to the physical economy. Our investment universe includes oil, gas, energy businesses and the energy transition, with attention to supply, demand, policy and the capital needed to power future growth.
- Portfolio role
- Exposure to the global energy cycle
- Key considerations
- Commodity-price volatility, geopolitics and policy changes.
Real economy
Commodities
The essential resources behind economic activity
Metals, agricultural resources and other commodities respond to physical supply, industrial demand and changing inflation conditions. We examine those drivers alongside the risks already present in the broader portfolio.
- Portfolio role
- Different economic return drivers
- Key considerations
- Price swings, supply disruptions and market structure.
Public markets
Market Indices
A wider market perspective, in one exposure
Broad, regional and sector indices offer a structured way to consider market exposure. Index-based strategies can support portfolio positioning and hedging, while still carrying the risks of the markets they represent.
- Portfolio role
- Broad market positioning
- Key considerations
- Market drawdowns, index concentration and implementation.
Real assets
Real Estate
A tangible perspective on long-term value
Real estate connects investment decisions with the places people live, work and move goods. We assess property opportunities and property-linked investments through income quality, location, financing and the durability of demand.
- Portfolio role
- Real-asset and income exposure
- Key considerations
- Valuations, occupancy, financing costs and illiquidity.
Global macro
Currencies & FX
Connect the portfolio to a global economy
Currency markets reflect differences in monetary policy, growth and capital flows. Foreign-exchange exposure is considered both as an investment opportunity and as a source of risk across international holdings.
- Portfolio role
- Global positioning and currency awareness
- Key considerations
- Exchange-rate moves, leverage and counterparty exposure.
Digital economy
Digital Assets
Digital innovation, within a broader discipline
Blockchain and digital-asset opportunities form one part of our investment universe. They are considered alongside traditional markets, with distinct attention to custody, liquidity, technology and the pace of regulatory change.
- Portfolio role
- Selective exposure to digital innovation
- Key considerations
- High volatility, custody, technology and regulatory change.