IN FOCUS6-8 min read

Schroders Equity Lens November 2023: your go-to guide to global equity markets.

Index concentration and future returns, equities vs bonds, improving profitability, and which stock markets look cheap?

13/11/2023
Photo of San Francisco bay

Authors

Duncan Lamont, CFA
Head of Strategic Research, Schroders

Click here to download your November copy

Summary:

  • The Super-7 continue to dominate. They are up over 50% this year, the rest of the world is flat. They make up more of global portfolios than Japan, UK, China and France combined (slides 5-6)
  • New research, to be published soon, shows that deviating from the market has been a winning strategy when concentration has been high. The tables could be set to turn in favour of more actively managed strategies at last (slide 7)
  • The expected reward for investing in US equities vs bonds continues to fall (slide 8)
  • Not all equities are expensive: small caps are cheap in absolute terms and vs large caps (slide 9)
  • Profit margins are starting to rebound in several markets (slide 19)
  • Earnings expectations for growth companies have been on the rise vs value companies, helping to fuel the growth rally this year (slide 31)
equity-lens-nov23-chart

Subscribe to our Insights

Visit our preference centre, where you can choose which Schroders Insights you would like to receive.

Authors

Duncan Lamont, CFA
Head of Strategic Research, Schroders

Topics

EquityLens
Market views
Global
Duncan Lamont
Equities
Follow us

Please remember that the value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.

This marketing material is for professional clients or advisers only. This site is not suitable for retail clients.

Issued by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered Number 4191730 England.

For illustrative purposes only and does not constitute a recommendation to invest in the above-mentioned security / sector / country.

Schroder Unit Trusts Limited is an authorised corporate director, authorised unit trust manager and an ISA plan manager, and is authorised and regulated by the Financial Conduct Authority.

On 17 September 2018 our remaining dual priced funds converted to single pricing and a list of the funds affected can be found in our Changes to Funds. To view historic dual prices from the launch date to 14 September 2018 click on Historic prices.