In the Room with
Global recessionary fears prevail – which companies will win, and which will lose?
Now that the era of easy money has ended, many companies are ill-prepared for higher interest rates. With earnings and balance sheets expected to take centre stage, who will be the stock market winners and losers?
In September 2023, host Stephen Backhouse was joined by Charlie Dutton, portfolio manager in Ninety One’s Quality team, to answer this very question. The two discussed the state of the global economy and true growth opportunities.
A global asset manager with roots in South Africa, Ninety One is commited to developing specialist investment teams that bring a different perspective to active and sustainable investing and offer strategies across equities, fixed income, multi-asset and alternatives to institutions, advisors and individual investors around the world.
About the webinar
The post-2008 era, marked by near-zero or negative interest rates, encouraged elevated risk-taking in investment markets. However, persistent inflation has driven global central banks to aggressively increase interest rates to stabilize prices. This shift has stressed many businesses, especially those unprepared for these higher rates, leading to significant disruptions in the banking sector. Despite these challenges, the Federal Reserve remains committed to controlling inflation by ensuring financial institutions remain liquid.
The emphasis in investing has now transitioned from easy-money policies to the importance of robust corporate fundamentals. Despite economic uncertainties, sectors like semiconductors and leisure display resilience and growth potential. In the current stringent financial climate, the spotlight is on high-quality companies with strong balance sheets and consistent earnings.
About Ninety One
Ninety One is a global asset manager with roots in South Africa and a commitment to developing specialist investment teams. We bring a different perspective to active and sustainable investing and offer strategies across equities, fixed income, multi-asset and alternatives to institutions, advisors and individual investors around the world. Established in 1991 as Investec Asset Management, we demerged from Investec Group and became Ninety One in March 2020, with dual listings in London and Johannesburg.
We believe that active investing can be a force for good. Our purpose is to provide long-term investment returns for our clients while making a positive difference to people and the plane
Head of Strategic Accounts
Stephen is a business development specialist with over 11 years’ experience in the asset management and platform industry. Stephen’s focus is all aspects involved in forging long-lasting relationships with strategic partners, more specifically the Discretionary Fund Managers and large Key Accounts, who are influential partners in our industry and are important stakeholders for the future proposition of INN8.
He was previously the head of Marketing and Business Development at STANLIB, where he was responsible for the Standard Bank relationship. Stephen obtained his Bachelor of Commerce from Rhodes University, and his Honours in Financial Analysis and Portfolio Management from the University of Cape Town.
Charlie Dutton, Portfolio Manager in Ninety One’s Quality team since 2016, boasts over 20 years of industry experience. His expertise spans global investments, with a focus on Asian equities. Before joining Ninety One, he was a lead portfolio manager at Coupland Cardiff Asset Management, where he directed the CC Asia Alpha fund. Previously, he held key roles at J.P. Morgan and holds a Geography degree from Durham University. He’s a Level III CFA® Programme pass.
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