Key Takeaways
- • Glovista Investments presented a global macro outlook on October 8, 2019, at the JW Marriott Miami, addressing late-cycle US economic deceleration, recession risks, and the reversal of post-1990 trade globalization dynamics as primary investor concerns.
- • Chief Investment Officer Carlos Asilis emphasized the necessity of a tactical global investment approach to navigate macroeconomic headwinds, citing potential increased tax pressure in developed markets alongside trade policy uncertainty.
- • The firm delivered a 10-year performance outlook for major asset classes and presented an investment case for emerging market equities on both absolute and relative bases versus developed peers, highlighting secular transformation trends.
- • Glovista's analysis addressed the complexity of emerging markets investing by simplifying factor analysis for institutional investors, positioning a minimalistic, binary return-payoff assessment methodology.
- • The briefing incorporated discussion of strategic corporate philanthropy as a vehicle for driving positive change in regions where the firm invests, integrating ESG considerations into the macro framework.
Summary
Glovista Investments hosted an executive briefing on October 8, 2019, to present its global macroeconomic outlook and key investment themes to members of the private wealth community at the JW Marriott Miami. The event featured the firm's leadership, including Chief Investment Officer Carlos Asilis, Deputy CIO Darshan Bhatt, and Strategic Advisor Ignacio Gil.
Asilis outlined the central macroeconomic challenges confronting institutional investors, emphasizing late-cycle US economic dynamics with emerging recession risks, the structural reversal of trade globalization patterns that have defined markets since 1990, and anticipated increases in tax pressure across developed economies. In response to these headwinds, Glovista advocated for a tactical global investment approach designed to navigate uncertain market conditions, rather than passive or long-term buy-and-hold positioning.
The presentation included the firm's proprietary 10-year performance outlook across major asset classes and a detailed investment case for emerging market equities. This analysis considered both absolute return opportunities and relative value versus developed market peers, positioning emerging markets within the context of secular trends reshaping the investment landscape. The firm specifically addressed the complexity inherent in emerging markets analysis, using simplified frameworks to distill multifactor environments into actionable binary return payoffs for institutional clients.
Beyond traditional portfolio construction, Glovista discussed the integration of corporate philanthropy as a strategic tool for generating positive social and economic outcomes in regions where the fund maintains active investments. This approach reflects growing institutional emphasis on impact-oriented capital deployment alongside financial returns.
Asilis outlined the central macroeconomic challenges confronting institutional investors, emphasizing late-cycle US economic dynamics with emerging recession risks, the structural reversal of trade globalization patterns that have defined markets since 1990, and anticipated increases in tax pressure across developed economies. In response to these headwinds, Glovista advocated for a tactical global investment approach designed to navigate uncertain market conditions, rather than passive or long-term buy-and-hold positioning.
The presentation included the firm's proprietary 10-year performance outlook across major asset classes and a detailed investment case for emerging market equities. This analysis considered both absolute return opportunities and relative value versus developed market peers, positioning emerging markets within the context of secular trends reshaping the investment landscape. The firm specifically addressed the complexity inherent in emerging markets analysis, using simplified frameworks to distill multifactor environments into actionable binary return payoffs for institutional clients.
Beyond traditional portfolio construction, Glovista discussed the integration of corporate philanthropy as a strategic tool for generating positive social and economic outcomes in regions where the fund maintains active investments. This approach reflects growing institutional emphasis on impact-oriented capital deployment alongside financial returns.
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