Independent Strategy adds value to it’s clients by seeking out investment themes and opportunities in Macro Investments, often challenging conventional wisdom.
Too often investment research is constrained by the narrow focus of the research provider, but we seek to create a cohesive global view. We are compact and flexible enough to respond quickly to an ever-changing investment scene.
The research is designed to benefit both short-term and longer-term strategic thinking. It carefully studies geo-political and economic events, while looking for breaks in historical trends to uncover investment opportunities.
We produce 60-70 reports a year on investment strategy, dealing with multiple investment topics. The scope of the research is global.
After due consultation with the client, we devise a dedicated investment benchmark and country allocation policy for a portfolio of assets.
Alternative investments are becoming an increasingly important part of institutional investors’ portfolios.
Based on how far the US term premium has fallen, to see any further meaningful decline in bond yields we’d need another downside macro shock. While we’re not bulls on growth — seeing plenty of risks out there — we don’t think we’re on the cusp of an immediate downturn. We are closing our long US 2-year Treasury position.SUBSCRIBE TO DOWNLOAD REPORTS
The Australian economy has had a great run, avoiding recession for almost three decades. Most macro indicators are in reasonable shape. But there are three risks looming. First, high levels of household debt and heavy exposure to residential housing put domestic demand under the spotlight. Second, should the upcoming election deliver a Labor victory, there is the danger of leftward shift in economic policy. Third, in the longer run, the likelihood of slower growth in China may lead to softer demand for Australian commodities.SUBSCRIBE TO DOWNLOAD REPORTS
The slowdown in global growth has been accompanied by an inversion of the US yield curve — the one recession indicator that always enlivens markets. While statistically the curve is an excellent forecaster of downturns, there is much to suggest things might be a little different this time.SUBSCRIBE TO DOWNLOAD REPORTS