Our US small and mid cap team is cautiously optimistic on the outlook for markets in 2018 against a more certain backdrop for economic growth.
We see scope for positive progress in 2018 as corporate profitability improves, inflation remains low and stock fundamentals become more important in driving share prices.
The coming year is likely to be a positive for one for global equities but there are risks, and with valuations at relative highs there is little margin for investor error.
We look at the huge shift of economic power towards a growing and increasingly wealthy Asian middle class, which - crucially - is both young and at ease with technology and rapid change.
The debate on whether to use passive or actively-managed funds can sometimes be one-sided. Our research suggests investors should keep an open mind.
As covered in the Financial Times, our research challenges the conventional wisdom that portfolio turnover and transaction costs should be minimised, and finds it to be misguided.