1 September 2023
As highlighted in our recent executive summary, India’s growth agenda is already paying dividends via the drivers of formalisation and digitisation that catalysed reinvestment in manufacturing. The result: the country’s macro economy has become more resilient with increased capital expenditure and industrial order books, as well as a narrowing current-account deficit and a healthier inflationary picture.
This thought leadership piece offers an in-depth look at how the current economic foundation, based on key government reforms, has enabled the economy’s next compelling stage. The paper further introduces the new drivers of growth, classified as the 5Ds: Digitisation, Deglobalisation, Decarbonisation, Demography and Deficit Reduction. They are poised to reshape the country’s commercial environment across diverse sectors, and we believe they should represent a paradigm shift for the Indian economy and how investors view it.
Given the current market environment, this piece highlights how Indian equities may participate in the country’s long-term growth story amid policy continuity and a stable regulatory environment. Overall, we think the asset class potentially presents sustainable growth opportunities at an uncertain time when the global growth outlook and corporate earnings environment remain unsettled.
Global Multi Asset Diversified Income Strategy (GMADI) update: A balanced approach to market volatility
Global equity markets have recently experienced sharper movements, particularly in areas linked to artificial intelligence (AI). Earnings announcements from AI hardware, semiconductor and large cloud-computing companies have been key sources of volatility. Concerns about potential interest rate hikes have added to uncertainty. The Global Multi Asset Diversified Income (GMADI) Strategy has not been immune to these market movements. However, its income focus, broad diversification and relatively defensive positioning may help limit the effect of sharp changes in technology and growth-related investments.
Global Equity Diversified Income (GEDI) Fund: Staying selective through market volatility
Global equity markets have recently experienced greater volatility. Much of this has been driven by earnings announcements from AI hardware, semiconductor and large cloud-computing companies. Concerns about potential interest rate hikes have also added to investor uncertainty. After a prolonged period of strong performance in AI-related areas, market expectations have become demanding. Even companies reporting solid results have experienced sharp share-price moves when their outlook has only met, rather than exceeded, investor expectations. Against this backdrop, the GEDI Fund remains focused on its core objective: generating income while maintaining diversified exposure to potential capital growth.
Real assets and the infrastructure behind AI
Artificial intelligence (AI) is often positioned as a story of models and applications, but its growth depends heavily on something far more tangible. Real assets such as data centres, power grids, and raw materials form the physical that supports AI development. As structural forces reshape the investment landscape, real assets are emerging as an enabler of the AI buildout.
Global Multi Asset Diversified Income Strategy (GMADI) update: A balanced approach to market volatility
Global equity markets have recently experienced sharper movements, particularly in areas linked to artificial intelligence (AI). Earnings announcements from AI hardware, semiconductor and large cloud-computing companies have been key sources of volatility. Concerns about potential interest rate hikes have added to uncertainty. The Global Multi Asset Diversified Income (GMADI) Strategy has not been immune to these market movements. However, its income focus, broad diversification and relatively defensive positioning may help limit the effect of sharp changes in technology and growth-related investments.
Global Equity Diversified Income (GEDI) Fund: Staying selective through market volatility
Global equity markets have recently experienced greater volatility. Much of this has been driven by earnings announcements from AI hardware, semiconductor and large cloud-computing companies. Concerns about potential interest rate hikes have also added to investor uncertainty. After a prolonged period of strong performance in AI-related areas, market expectations have become demanding. Even companies reporting solid results have experienced sharp share-price moves when their outlook has only met, rather than exceeded, investor expectations. Against this backdrop, the GEDI Fund remains focused on its core objective: generating income while maintaining diversified exposure to potential capital growth.
Real assets and the infrastructure behind AI
Artificial intelligence (AI) is often positioned as a story of models and applications, but its growth depends heavily on something far more tangible. Real assets such as data centres, power grids, and raw materials form the physical that supports AI development. As structural forces reshape the investment landscape, real assets are emerging as an enabler of the AI buildout.