Changing market and geopolitical environments are part of the equation for long-term investors. As active investors, we are prepared to manage through trying times.
Executive Managing Director and Sr. Portfolio Manager Brian Christiansen discusses the importance of candor and collaboration in a culture that promotes long-term thinking.
Our second annual stewardship report reflects our commitment to provide clients and other key stakeholders with transparency into our initiatives, actions, and the progress we made in 2022.
U.S. markets have recovered following 2022’s historic selloff, leading some to question what comes next. Valuations are elevated, the cost of capital is the highest it’s been in decades, and overall economic and geopolitical uncertainty remains. In this environment, we believe certain active approaches are better positioned to benefit than others.
Throughout emerging markets, advances in technology are enabling the creation of digital banking solutions that better address evolving consumer preferences and enable billions of the unbanked to access the financial system.
Businesses that provide the building blocks for generative AI or are able to harness its power to provide better products and services should be the beneficiaries of this first wave of the artificial intelligence revolution.
ChatGPT has practically turned chipmaker NVIDIA into a household name. We believe NVIDIA and other companies along the semiconductor value chain should grow more than expected, benefitting not only from AI adoption but also from other new technologies that demand more powerful and more complex chips.
While there is a long road ahead before data-driven decision-making becomes common across organizations, we believe businesses that enable this data stack will be an important area for venture capital investment in the years to come.
China’s changing macroeconomic and geopolitical dynamics call for a nimbler and more selective investment approach. Renewable energy and industrial automation are among the developing opportunities where we see value creation potential.
Low penetration of traditional banking services creates considerable growth opportunities for emerging markets banks, while the maturity of the financial services sector in developed markets limits these opportunities.
As long-term stewards of capital, we believe it is critical that businesses, investors, and capital allocators factor climate change into their long-term strategies as they would any other environmental, social, or governance issue.
Today, we view electrification, or the shift from vehicles with internal combustion engines to those powered by batteries, as one of the most important secular trends of the next decade.
