How to thrive amid a confluence of generational shifts

Equity markets have historically moved in long, multi-year cycles, each dominated by a prevailing theme. Each decade has reflected a distinct trend: the 1970s focused on energy and commodities; the 1980s and 1990s brought the rise of computing and mobile technology; the 2000s were shaped by global trade and China's emergence; and from the 2010s, digital innovation has led the way.

Being aligned with these trends has delivered considerable benefits for investors. Over the last decade, US-based mega-cap technology companies, buoyed by low interest rates, have driven a significant share of market returns, resulting in concentrated market leadership. Now, with higher inflation, rising interest rates and increased geopolitical tension, a major shift is underway — one that typically occurs only every 10 to 15 years.

Click here to explore the four key areas of transformation and examine how we are identifying the long-term investment opportunities that they present.