In this latest report, C WorldWide share their expectations on Global Equities, their insights on achieving the target of net zero emissions of greenhouse gases by 2050 and their perspective on the debate over short versus long-term investment.
Investor confidence is rising as the world economy recovers with vaccination levels going up. Paradoxically, the key US 10-year bond yield declined in an environment of strong economic growth, where GDP in the US grew 10%, companies reported strong earnings growth, South Korean exports rose to a 10-year high and economic sentiment in Europe almost reached a 35-year high.
In the quarter, the strategy returned 8.0%, trailing the MSCI AC World Index, which returned 9.0%. The underperformance can largely be attributed to weakness in some of our Asian investments, partly due to the stronger dollar. Some of the best contributors were Alphabet which reported very strong numbers with revenues growing 35% driven by Search growing 30%, YouTube 49% and Cloud 46%. Microsoft and Amazon were also strong performers as the Covid pandemic is accelerating the digital transformation and transition to the cloud.
Report Highlights
- Global Equities: Expectations – Bo Knudsen, Managing Director and Portfolio Manager
- Net-Zero Emission – Mission Impossible? – Morten Springborg, Global Thematic Specialist
- The Next Decade belongs to the Long-Term Investor – Peter O’Reilly, Portfolio Manager
- C WorldWide Global Equities ex. Tobacco – Second Quarter Commentary
