European small- and mid-caps: towards an upswing?
In the long term, small- and mid-cap companies tend to outperform large caps. It is this prospect of excess returns that compensates for the increased risk associated with the higher volatility of this asset class.
‘Gold could still double in price’
After years of underperformance, investors are once again paying attention to commodities. They are using gold to hedge against higher inflation but also recognize the growth potential tied to the energy transition.
Weathering the climate challenge with data
Van Lanschot Kempen uses sophisticated climate data to assess the potential impact of natural hazards on valuation and price-in the risks. How do we approach this?
Pimco’s ceo Roman warns fund industry against AUM-obsession
Pimco chief executive Emmanuel Roman warned that the asset-management industry’s obsession with attracting cash risks diluting performance and investor trust.
The US is entering an era of ‘post-truth statistics’
In October, the US failed to deliver one of its most closely watched economic reports: the monthly jobs data. The blackout has deepened doubts over whether the world’s largest economy can still produce reliable data, even once the releases resume.
Morningstar: Aberdeen versus Invesco in global emerging markets equities
Equity markets in emerging countries extended their strong performance from the first six months of 2025 into the third quarter, led by heavyweight China, as well as Colombia, Egypt, Peru, Thailand, and South Africa.
Defense and AI push European thematic ETFs to record size
Assets in European thematic ETFs have climbed to a record 52 billion euro, the highest level since the post-Covid “everything bubble.” While a record number of thematic funds closed in 2024, the category is making a comeback this year, led by the themes of defense and AI.
Another wave of price pressure hits European fund managers
Europe’s fee war is entering a new phase. Morningstar’s latest European Fund Fee Study finds that while the steepest cost declines are over, new competitive forces are reshaping the industry.
Answers from the campfire
Last week, during the Fund Event, I sat in a packed room around a metaphorical campfire. This time, questions didn’t come through the chat, but as paper airplanes floating through the air. Some landed in the fire and were answered immediately. Others fell into the ashes. Time to pick those up.
Split on rate path, US firms agree on how to position in Treasuries
US asset managers are finding common ground on one point: the short end of the U.S. Treasury curve is where investors should be. The reasoning behind that stance, however, differs sharply.