This article was first published on April 2, 2016. by Eddie Lee Staff, fans bid farewell to broadcaster It was finally curtains for Asia Television last night (April 1, 2016) after a couple of near-shutdowns last month and one dramatic twist after another to the embattled station’s chequered final episode. Just before the stroke of midnight, the cash-strapped broadcaster pulled the plug after airi...
This article was first published on April 2, 2016. by Eddie Lee Staff, fans bid farewell to broadcaster It was finally curtains for Asia Television last night (April 1, 2016) after a couple of near-shutdowns last month and one dramatic twist after another to the embattled station’s chequered final episode. Just before the stroke of midnight, the cash-strapped broadcaster pulled the plug after airing a re-run of one of its trademark Miss Asia beauty pageants. The only fresh programmes on air...
AndreyPopov/iStock via Getty Images Market review and outlook The major equity indexes climbed to all-time highs in the third quarter as positive growth and continued interest-rate cuts by central banks raised hopes that the world economy was poised for a soft landing. The U.S. Federal Reserve joined its global peers in loosening policy with a half-point rate cut in September, a move that provided...
AndreyPopov/iStock via Getty Images Market review and outlook The major equity indexes climbed to all-time highs in the third quarter as positive growth and continued interest-rate cuts by central banks raised hopes that the world economy was poised for a soft landing. The U.S. Federal Reserve joined its global peers in loosening policy with a half-point rate cut in September, a move that provided a meaningful boost to sentiment. Stocks were also propelled by China's announcement of an aggressive economic stimulus package designed to support the nation's economy and financial markets. Contributors and detractors At the end of September, the fund was positioned with 121% of its capital invested in long positions (down slightly from 122% at the end of the second quarter) and -71% in short positions (versus -69% at the end of June), for a net exposure of 50% long. In comparison, the fund entered the quarter with a net long position of about 53%. The fund's long portfolio returned approximately 5.0% and underperformed the benchmark. The short portfolio lost ground with a return of -3.7%. Alibaba Group Holding Co. Ltd. ( BABA ), KKR Corp. ( KKR ), Broadcom, Inc. ( AVGO ), and Renesas Electronics Corp. ( RNECF ) were the leading single-stock contributors in the long portfolio. DexCom, Inc. ( DXCM ) and Samsung Electronics Co., Ltd. ( SSNLF ) were the most notable detractors. The fund combines five distinct strategies subadvised by Wellington Management, four of which produced positive absolute returns in the quarter. In the healthcare strategy, long positions in healthcare services and small- to mid-cap biopharmaceutical companies contributed. Holdings in semiconductor stocks detracted in information technology. Positions in capital markets, insurance, and consumer finance were the leading contributors in financials. Long positions in financials and consumer discretionary were the most notable contributors in the diversified equity strategy, but longs in consumer staples ...
phakphum patjangkata/iStock via Getty Images Manager perspective and outlook Throughout the fourth quarter, global risk assets delivered gains, with several equity markets reaching record or multi-year highs. Performance was largely driven by resilient corporate earnings and expectations for more accommodative monetary policy. Equity market leadership continued to broaden beyond US equities as non...
phakphum patjangkata/iStock via Getty Images Manager perspective and outlook Throughout the fourth quarter, global risk assets delivered gains, with several equity markets reaching record or multi-year highs. Performance was largely driven by resilient corporate earnings and expectations for more accommodative monetary policy. Equity market leadership continued to broaden beyond US equities as non-US markets outperformed. The rotation was driven in part by a weaker US dollar. Amid growing uncertainty about US trade and fiscal policies, central banks and large institutional investors appear to have sought to reduce risk by diversifying their holdings across different currencies and assets rather than keeping too much in US dollars, seemingly reflecting lower confidence in US dollar-denominated assets. Performance highlights The fund's Class A shares at net asset value (NAV) had a positive return in line with its balanced benchmark for the quarter. Equities: The fund's equity income exposures produced gains overall as global stocks largely advanced during the quarter. The fund's positions in Invesco S&P 500 Equal Weight Income Advantage ETF ( RSPA ) , Invesco QQQ Income Advantage ETF ( QQQA ) and Invesco MSCI EAFE Income Advantage ETF ( EFAA ) all posted gains and were top contributors to performance in the fourth quarter. Bonds: The fund's fixed income exposures also delivered an overall gain overall for the quarter. The fund's exposures to both US investment grade and high-yield bonds contributed to results, given that the US Federal Reserve cut the federal funds rate twice during the quarter. The fund's emerging market debt exposure also made a positive contribution to results. 30-day SEC yields Class A 5.19 Class R6 5.82 Class Y 5.72 Click to enlarge Had fees not been waived and/or expenses reimbursed, the SEC yields would have been 5.00% for Class A shares, 5.62% for Class R6 shares and 5.53% for Class Y shares. Gross performance attribution (%) Quarter Year to d...
Hiroshi Watanabe/DigitalVision via Getty Images Key Takeaways Markets: Global equity markets collectively advanced through the final quarter of 2025 as investors weighed easing inflation trends and expectations for lower policy rates in 2026 against slowing economic growth and persistent geopolitical risks. US stocks overall advanced into year-end, while other regions were more mixed—benefiting fr...
Hiroshi Watanabe/DigitalVision via Getty Images Key Takeaways Markets: Global equity markets collectively advanced through the final quarter of 2025 as investors weighed easing inflation trends and expectations for lower policy rates in 2026 against slowing economic growth and persistent geopolitical risks. US stocks overall advanced into year-end, while other regions were more mixed—benefiting from pockets of technology- and artificial intelligence-led strength (notably in Japan and China) but constrained by currency moves, uneven domestic demand and sector-specific headwinds. Contributors: Stock selection was a major contributor across most regions represented in the fund's portfolio, especially in continental Europe and the United States. Selection was also beneficial in the commodity-sensitive Australia and Canada. Detractors: Stock selection detracted from relative return in Japan, where results were especially weak in the consumer discretionary sector. Outlook: We retain measured conviction toward equities into 2026, as influential pillars of support for risk assets—such as inflation, policy and corporate fundamentals—remain healthy. These dynamics fuel our belief that equities have the potential to generate positive returns for investors, despite stretched valuations. Performance Review Stock selection added value across most regions represented in the fund's portfolio, led by continental Europe and the United States. Selection was also notably strong in Australia, and modestly so in Canada, the United Kingdom and developed Asia ex Japan. Selection detracted in Japan, especially in the consumer discretionary sector. Region and sector allocation decisions had little impact, with a modest benefit of an overweight to the United Kingdom, which outperformed the benchmark for the period. Outlook We retain measured conviction toward equities into 2026, as influential pillars of support for risk assets—such as inflation, policy and corporate fundamentals—remain healt...
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)