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29 January 2026
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Small caps are the most passively managed among all equity size categories, yet we believe they offer a highly contoured and target-rich landscape for active stock selection.
As the landscape of private equity investing continues to evolve, evergreen funds have emerged as an alternative to traditional funds utilising capital calls and distributions.
Despite a rising tide of negative media coverage, we believe that private debt still has tremendous potential to deliver attractive risk-adjusted returns for investors.
This paper discusses the remarkable rise of private credit; the factors that, in our view, will shape its evolution; and its potential to continue delivering attractive risk-adjusted returns for selective investors.
Higher for Longer, Longer the Stronger. “Savings depletion and weakness among small-cap and regional bank stocks suggest that the U.S. economy may not be as strong as it seems.”
Slowing growth could still be enough to avoid a hard landing, but in a higher-for-longer rate environment yields may provide the bulk of near-term total returns.
The post-World War Two economic system is unravelling, leading to huge shifts in currency, bond and commodity markets, yet stocks seem oblivious to the chaos. This looks to history as a guide for what’s next.
Mark Carney has spoken of a rupture in the rules based system that has governed the world since 1945. That rupture means nations like Australia will need to boost defence spending and find savings elsewhere.
With ASX dividend yields now below government bond yields, investors face an upside-down market where income is scarce, growth is muted, and careful selection of bond-like stocks has never mattered more.
ASX miners are back in favour after playing second fiddle to banks for years. Is it too late to get in? Here are some thoughts on the large caps such as BHP and Rio, and the hot gold mining sector.
Most commentary on gold's recent record highs focus on it being the product of fear or speculative momentum. That's ignoring the deeper structural drivers at play.
Tariff turmoil tested Asia, but AI leadership, policy easing and reform momentum are restoring investor confidence and strengthening the region’s outlook for 2026.
New research explains why high valuations, low dividends and bullish sentiment rarely coexist with strong long-term returns after extended bull markets.