Chart of the week - 18 August 2025
In this week's Chart of the Week, Portfolio Manager Slawomir tables key Jackson Hole meetings in the post-Great Financial Crisis era. Jackson Hole is an annual Economic Symposium hosted by the Federal Reserve Bank of Kansas City. It is a closely watched event where central bankers, economists, and policymakers gather to discuss major global economic issues.
Equity exuberance - Simon Price
In this week's Chart of the Week, Senior Equity Fund Manager Simon uses the Goldman Sachs Non-Profitable Tech Index to reveal a recent surge in investor interest toward companies with limited prospects for sustainable business models, allowing them to outperform higher-quality peers.
5-year Italian bond yields now trade below France
This chart shows the yield difference between 5-year Italian government bonds (BTPS) and 5-year French government bonds (BTANS).
The comeback of active management? Why 2025 could be a turning point
In this week's Chart of the Week, Fund Manager Gary Moglione reveals a significant shift: after years of declining breadth, the percentage of stocks outperforming the MSCI World is finally rising. If this trend continues, 2025 could be remembered as the year active management made its comeback.
Not-so-magnificent banks - Lorenzo La Posta, CFA
In this week's Chart of the Week, Portfolio Manager Lorenzo La Posta highlights the past five years' total returns of Italy's UniCredit Bank versus the Magnificent 7 tech giants. Despite having nothing inherently "magnificent" about it, this Italian banking group has quietly and substantially outperformed them, proving that the best investments are often overlooked.
