IN FOCUS6-8 min read

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

This month's Lens looks at cheap stock markets, stocks vs bonds, and a sustainability stock market league table, alongside our usual wrap-up of everything you need to know in equity markets.

10-05-2023
barcelona
Read full report
47 pages

Authors

Duncan Lamont, CFA
Head of Strategic Research
See all articles

Click here to download your October copy.

Summary:

  • The expected reward for investing in US equities vs bonds has collapsed (slide 5)
  • But not all equities are expensive: small caps are cheap in absolute terms and vs large caps (slide 6)
  • The Super-7 have given up some but not much of their lead over the rest of the market (slide 7)
  • Markets are cheaper on an equal-weighted basis vs market-cap weighted: opportunities for active managers to find cheap stocks away from the biggest names (slide 8)
  • Companies on the Spanish stock market collectively have the biggest positive impact on society and the environment, according to our new analysis. The German and Danish markets also score highly (sides 10-12)
  • The UK and Dutch markets are at the bottom of our sustainability stock market league table but that ranking misses important features (slides 10-11, plus read more)
  • Corporate profits would be cut hard if the financial cost/benefit of companies’ externalities hit their profit & loss statement (slide 12). This is not a forecast, and only one piece of the puzzle when it comes to assessing the return outlook.

webimage
Read full report
47 pages

Subscribe to our Insights

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

The views and opinions contained herein are those of Schroders’ investment teams and/or Economics Group, and do not necessarily represent Schroder Investment Management North America Inc.’s house views. These views are subject to change. This information is intended to be for information purposes only and it is not intended as promotional material in any respect.

Authors

Duncan Lamont, CFA
Head of Strategic Research
See all articles

Topics

EquityLens
Equities
Market views
Alpha Equity
Global
Duncan Lamont
Contact Schroders
Follow us

Please consider a fund's investment objectives, risks, charges and expenses carefully before investing.

The website and the content included is intended for US-based financial intermediaries (and their non-US affiliates) on behalf of those of their clients who are both (a) not “US persons” as that term is defined in Rule 902 under the United States Securities Act of 1933, as amended (the “1933 Act”) and (b) “non-United States persons” as that terms is defined in Rule 4.7(a)(vi) under the Commodity Exchange Act of 1936, as amended. None of the funds described herein is registered as an “investment company” as that term is defined in the United States Investment Company Act of 1940, as amended, and shares of the funds described herein have not been and will not be registered under the 1933 Act or the securities laws of any of the states of the United States. The shares may not be offered, sold or delivered directly or indirectly in the United States or for the account or benefit of any “US person.”

The information contained in this website does not constitute an offer to purchase or sell, advertise, recommend, distribute or solicit a subscription for interests in investment products in any Latin American jurisdiction where such would be unauthorized. The information contained in this website is not intended for distribution to the public in general and must not be reproduced or distributed, entirely or partially to any individuals who are not allowed to receive it according to applicable legislation. The investment products and their distribution may not be registered in Latin America, and therefore may not meet certain requirements and procedures usually observed in public offerings of securities registered in the region, with which investors in the Latin America capital markets may be familiar. For this reason, the access of the investors to certain information regarding the investment products may be restricted. Financial intermediaries and Advisors must ensure the information provided in this website is appropriate and suitable to the receiver’s domicile and jurisdiction and according to the applicable legislation.

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

Issued by Schroder Investment Management (Europe) S.A., 5 (“SIM Europe”), rue Höhenhof, L-1736 Senningerberg, Luxembourg. Registered No. B 37.799

Schroder Investment Management North America Inc. (“SIMNA”) is an SEC registered investment adviser, CRD Number 105820, providing asset management products and services to clients in the US and registered as a Portfolio Manager with the securities regulatory authorities in Canada.  Schroder Fund Advisors LLC (“SFA”) is a wholly-owned subsidiary of SIMNA Inc. and is registered as a limited purpose broker-dealer with FINRA and as an Exempt Market Dealer with the securities regulatory authorities in Canada.  SFA markets certain investment vehicles for which other Schroders entities are investment advisers.

Schroders Capital is the private markets investment division of Schroders plc.  Schroders Capital Management (US) Inc. (“Schroders Capital US”) is registered as an investment adviser with the US Securities and Exchange Commission (SEC).  It provides asset management products and services to clients in the United States and Canada.  For more information, visit www.schroderscapital.com

SIM (Europe), SIMNA, SFA and Schroders Capital are wholly owned subsidiaries of Schroders plc.

© Copyright 2023 Schroder Investment Management North America Inc