Imperium Capital Publication

Global Matters Weekly – 30 January 2023

Turning away from the glass-halfempty mentality

by Gregoire Sharma, CFA — Senior Portfolio Manager & Research Analyst

— It seems, inflation has likely peaked and is expected to fall materially this year

As we turn the page on 2022 and look with cautious optimism at 2023 for some respite in markets, investors are appraising the investment landscape with an understandable degree of trepidation. Indeed, following the macroeconomic and geopolitical events of 2022, losses in fixed income markets were on par with those in equities making it one of the worst years on record for balanced portfolios.

Market Snapshot

    • Global equities returned 2.2% last week
    • Following Germany’s promise of military support, the US announced that it would be sending 31 M1 Abrams tanks to aid Ukraine’s battle against Russian forces
    • Brent crude fell by 1.1% to $86.66 per barrel
    • Gold rose 0.1% to $1928.04 per ounce

Global Matters Weekly – 23 January 2023

No stress

by Matt Connor — Investment Analyst

— Heightened emotions often cloud judgement and can lead to irrational decision making.

I have recently returned from a holiday to Cape Verde, where the country’s motto of “No Stress” suits the tropical island lifestyle. After returning to (a much colder) reality it has dawned on me that investors ought to take a leaf out of the Cape Verdean’s book and try not to stress and act in haste when making investment decisions.

Market Snapshot

    • Global equities fell 0.4% last week
    • A mixed week for major indices: the European Central Bank indicated it intends to hike interest rates and there are recession fears in the US, however, there were some positive returns in Asia
    • Brent crude rose 2.8% to $87.63 a barrel
    • Gold rose 0.3% to $1926.08 per ounce

Global Matters Weekly – 16 January 2023

Well, that wasn’t expected…

by Richard Parfect — Fund Manager

— Risk is integral to investing; it is ultimately what determines returns

Having booked my first skiing holiday in 11 years with some friends in Chamonix towards the end of January, I’m seeing news articles showing temperatures approaching 10c and zero snow on the ground. When I booked the trip for my group, of all the things I considered that might scupper the trip; no snow in the Alps, in January, was not one of them. Investing is far from immune to such tales of the unexpected.

Market Snapshot

    • Global equities returned 3.3% last week
    • The World Bank released its latest round of economic projections, with global growth projection for 2023 now at 1.7%, marking a downgrade from 3.0% forecasted in June
    • Brent crude rose by 8.5% to $85.28 per barrel
    • Gold rose 2.9% to $1920.23 per ounce

Global Matters Weekly – 9 January 2023

Divine inspiration

by Alex Harvery — Senior Portfolio Manager & Investment Strategist

— On a brighter note, and with Janus looking forward, 2023 presents us with a fuller palette of investment opportunities than we’ve seen for some years

The month of January takes its name from the Roman god Janus, whose two opposing faces depict duality and transition, endings, and new beginnings. This god of gateways looks both backward and forward, and if ever there was a January to excite him (he is generally depicted with a beard), then this is surely it.

Market Snapshot

    • Global equities returned 1.8% last week
    • Most World indices saw positive returns to start the new year
    • Brent crude fell 8.5% to $78.57 per barrel
    • Gold rose 2.3% to $1865.69 per ounce