australiaen
Investing in a world of binary outcomes

Investing in a world of binary outcomes

12-07-2019 | Quarterly outlook

Welcome to a new world. We are in the Age of Tweets, one where a trade deal seems imminent one minute, and is then off the table the next. The key question is: how do we manage investments in a 50:50 world, in a world of binary outcomes where the macro backdrop can turn by 180 degrees in the time that it takes to flip a coin – or to type 140 characters?

  • Fabiana Fedeli
    Fabiana
    Fedeli
    Global Head of Fundamental Equities
  • Jaap  van der Hart
    Jaap
    van der Hart
    Equity Fund Manager
  • Michiel  Plakman
    Michiel
    Plakman
    Portfoliomanager Robeco Global Stars Equities

We look for structural changes, we focus on what is likely to change or not to change, no matter what the vagaries of President Trump’s tweets and the reactions to them imply. From a regional perspective, our outlook remains neutral in developed markets and positive in emerging markets, as long as we have a US-China resolution.

Stay informed on emerging markets with monthly mail updates
Stay informed on emerging markets with monthly mail updates
Subscribe

Read the Fundamental Equities Quarterly Outlook

Disclaimer:

I agree to the Robeco Disclaimer and the collection and use of my personal data by Robeco, for the purposes for which such data is collected and used as set out in the Privacy Policy, including for the purpose of direct marketing of Robeco products or services. Your data will be treated with utmost care and will not be passed on to third parties.

Disclaimer

BY CLICKING ON “I AGREE”, I DECLARE I AM A WHOLESALE CLIENT AS DEFINED IN THE CORPORATIONS ACT 2001.

What is a Wholesale Client?
A person or entity is a “wholesale client” if they satisfy the requirements of section 761G of the Corporations Act.
This commonly includes a person or entity:

  • who holds an Australian Financial Services License
  • who has or controls at least $10 million (and may include funds held by an associate or under a trust that the person manages)
  • that is a body regulated by APRA other than a trustee of:
    (i) a superannuation fund;
    (ii) an approved deposit fund;
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme.
    within the meaning of the Superannuation Industry (Supervision) Act 1993
  • that is a body registered under the Financial Corporations Act 1974.
  • that is a trustee of:
    (i) a superannuation fund; or
    (ii) an approved deposit fund; or
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme
    within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million.
  • that is a listed entity or a related body corporate of a listed entity
  • that is an exempt public authority
  • that is a body corporate, or an unincorporated body, that:
    (i) carries on a business of investment in financial products, interests in land or other investments; and
    (ii) for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82 of the Corporations Act 2001, the terms of which provided for the funds subscribed to be invested for those purposes.
  • that is a foreign entity which, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.
I Disagree