Perspectives

Valuation of Infrastructure Assets Q4 2024

In our latest Valuation update, Portfolio Manager, Daniel Chu, discusses trends affecting infrastructure sector performance and reviews current valuations.

AOR Update: The Average Stock Selection

Global Value Improvers Strategy January Commentary

Trade uncertainty, pockets of economic malaise and a tech shock from the unveiling of DeepSeek helped drive demand for global value stocks, which generated positive returns and outperformed their core and growth counterparts.

Global Infrastructure Income Strategy January Commentary

We believe the defensive characteristics of infrastructure will remain valuable in what we expect to be a more volatile market in the near-term.

Global Infrastructure Value Strategy January Commentary

Strength in infrastructure was concentrated in the U.S., where GDP-sensitive energy infrastructure benefit from expectations of greater oil and gas production raising volumes for pipelines.

Developed Markets Infrastructure Income Model January Commentary

Strong economic data saw the case for a slower easing cycle from the Federal Reserve than had been expected.

Emerging Markets Strategy January Commentary

Global markets finished the year mixed in the fourth quarter, following the U.S. presidential election and a third interest rate cut for the year.

The Long View: Mean Reversion or Gambler's Fallacy?

Two years of strong gains don’t make U.S. equities due for a pullback, as the market has typically continued to climb.

U.S. Exceptionalism Offsets Overseas Weakness

Q4 2024 Global Growth Strategy Commentary: The U.S. outperformed the index for the quarter and was the only major developed market to generate gains.

Improvers Outperform Amid International Pullback

Q4 2024 Global Value Improvers Strategy Commentary: Sentiment toward climate change and decarbonisation has turned more cautious, but they remain strong drivers that should help the portfolio to navigate market uncertainty.

High-Growth Utilities Bolster Defensive Tilt

Q4 2024 Global Infrastructure Income Strategy Commentary: We are tilted somewhat defensively toward utilities, though not purely for reasons of defense.

Developed Markets Infrastructure Income Model December Commentary

Strong economic data saw the case for a slower easing .cycle from the Federal Reserve than had been expected.