Insights

There are trillions of semiconductors driving almost all electronic goods; without them, the modern world simply wouldn’t work. Investment Manager Tom Miedema investigates the ubiquitous chip.

Innovative heart treatments, AI-powered surgical robots, and booming wearable tech are transforming patient care. But these advances come with high costs. Can a value-based model balance progress with affordability?

Six key materials – sand, salt, iron, copper, oil and lithium – have shaped our civilisation. Author Ed Conway tells Investment Manager Lucia Gibbard why physical commodities matter more than ever.

Bjørn Gulden has transformed the fortunes of Adidas since taking the helm in 2023. But can the iconic Three Stripes maintain its impressive momentum in a world of tariffs?

This year’s Journal looks different. It has more colour, more character and more columns. But the Journal’s ambition remains the same: to share the ideas shaping our thinking and informing the companies we invest in on behalf of our clients.

Russia, China and various shadowy groups hostile to the West have pipelines, oil and gas platforms and subsea internet cables in their sights. Senior Chatham House Fellow Armida van Rij assesses the risks.

In the latest edition of our Research Journal we cover geopolitical risk from Europe to North Korea, the economics of the growing global debt burden, the mindboggling complexity of the semiconductor supply chain, and the implications of the rise and rise of anti-obesity drugs. Download this edition or listen to the audio version.

As governments and companies strive to de-risk critical supply chains, Tom Miedema asks what this means for the global technology industry, both financially and in terms of efficiency.

Novo Nordisk and Eli Lilly’s ground-breaking anti-obesity drugs look set to be transformational for millions of individuals worldwide so what about the likely consequences for other companies in healthcare and beyond?

Now in its 13th edition, the ambition behind our Journal remains unchanged. Through exploring some of the themes at the forefront of the Research team’s agenda we hope to share the thinking of a range of experts alongside our own views and in doing so show how we address these subjects in the context of our long-term investment approach.