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It’s official. Indian stocks have entered a new bull market phase. From mid-February, 2016, through till the end of August, the BSE Sensex Index has returned 22 percent, according to Bloomberg data.¹ The catalysts are well known at this stage: Above-normal monsoon rains, following two years of drought; A pay hike for government workers intended to help boost consumption; Strong recovery in corporate earnings, with…
The Standout Performer So Far This Year The Olympics are over now, but Brazilian equities are still gunning for gold in 2016, having already provided investors with some of the best returns so far this year. Since the beginning of January through August 19, 2016, Brazil’s Ibovespa Index is up 54.9 percent, compared to a 13.9 percent gain for the TSX Composite, and a loss…
Introducing Urjit Patel After months of speculation, the long-awaited decision as to who will replace Raghuram Rajan as central bank Governor has finally been made. On August 20, 2016, Urjit Patel was appointed new chief of the Reserve Bank of India. A long-time colleague of Prime Minister Narendra Modi, Mr. Patel is viewed as a market-friendly successor, that will augment the government’s macroeconomic policies. While…
The Current State of Global Markets: Investors Say ‘No’ to Record-Low Yields Developed markets, for example the U.S., Canada and the UK, currently offer little to no yield for income-seeking investors. In fact, over US$10 trillion in government debt actually sport negative interest rates.¹ As a result, investors have been turning en masse to the emerging markets in search of greater yields, and the data…
Just when investors thought India could not grow any faster, the new Goods and Services Tax (GST) is projected to help boost the world’s fastest-growing, major economy by as much as 2 percent, according to Finance Minister Arun Jaitley.¹ On August 3, 2016, the bill passed in the Upper House, with an overwhelming 197 members in favour of the new bill, out of a total…
India’s monsoon is currently delivering heavy rains across most of the country, particularly central India. Investors often wonder why this is so important. Specifically, GDP growth rate could increase to over 8 percent for the current fiscal year, on the back of a strong monsoon season. This is incredible, considering that India already holds the title of the world’s fastest-growing major economy at 7.6 percent.¹…
Latin America... Refocusing on FundamentalsLooking Beyond the Turmoil in the Pursuit of Long-Term Growth Opportunities Firstly, let's get some of the noise out of the way. Latin America, has seen better days. Brazil, which accounts for around 55 percent of the region's market cap, has been in political disarray over the past several months. Media coverage surrounding localized diseases and ill preparedness for the Olympics,…
India has over 45 million small- and medium-sized companies or SMEs. Compare that number to Canada, which has a registered number of around 1.1 million SMEs, according to the latest data from the Government of Canada.¹ As in most countries, SMEs are the driving force of the economy, normally employing a large majority of the working population and contributing significantly to GDP growth. With India…
Where can today’s investors go if they are looking for growth and income? As expansion in the developed world remains tepid, particularly in light of Britain’s recent decision to leave the European Union, and global yields continue to hover around historic lows, investors are increasingly turning to the emerging markets to help improve the risk-adjusted returns of their portfolios. Within the emerging market universe, investors…
On July 4, 2016, Wealth Professional, published an interview of our CEO, Mr Bhim Asdhir, who shared his views on India and its future. According to Bhim, "India's emergence as a global power is similar to that already experienced in China. Now that the Chinese economy has slowed, India is primed to take its place as the global pacesetter." Bhim also speaks about some of…
Britain's decision to leave the European Union (EU) was a macro event that came as a surprise to global financial markets. In the aftermath of ‘Brexit’, our expectation is that major central banks are likely to maintain a stance of accommodative monetary policies over the short- to medium-term, while an interest rate hike in the U.S. now seems unlikely, especially before the end of 2016.…
The UK conducted a referendum on June 23, 2016, and the British populace has voted to exit the European Union (“EU”). Global financial markets reacted strongly as they do to any black swan events that can create uncertainty. The long term impact of Brexit outside of EU, however, should be limited. In particular, the emerging markets largely remain insulated from the adverse consequences of such…

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