2019 Global Market Outlook


Disruption in its various forms is likely to determine the direction of global markets in the coming year. With the U.S. moving later in the business cycle, the U.S. Federal Reserve raising rates, and credit conditions diverging widely across other global economies, the potential for market volatility remains high.

Discover how disruption within technology, central banks, and geopolitics will impact global markets in 2019.

Our expert panel provides actionable insights on compelling ideas for the year ahead.

When it comes to navigating global disruption, our strategic investing approach means we go further to get the full story.

Equity analyst Paulina Amieva talks to management, suppliers, and customers in Mexico City to get a true sense of companies actively solving friction points that impede growth.

There are typically three broad investment stages to a crisis: the liquidity vacuum, the transition "from terrible to bad," and the return to fundamentals.

A recent study shows that the rigor of our independent research and the decision-making of our experienced portfolio managers has created value over the long term.

Put our approach to work for your clients.

Invests in firms with a favorable combination of growth prospects and valuation. Several of the aspects we look for: accelerating earnings and cash flow growth, reasonable valuation, and barriers to entry at industry and product level.

Invests in domestic and foreign debt instruments, including government and corporate bonds; mortgage- backed, commercial mortgage-backed, and asset- backed securities; and preferred stocks.


Invests in a variety of industries in developed and, to a lesser extent, emerging markets. Invests in firms taking market share in the global economy and demonstrating strong free cash flow, sustainable margins, long product cycles, and experienced management teams.

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National Banks


Variable Annuity


RIA & Regional Bank


Important Information

Past performance cannot guarantee future results. All investments are subject to market risk, including the possible loss of principal.

Bond funds are subject to risk that if interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short term.

Investing overseas involves special risks, including political uncertainty; unfavorable currency exchange rates; and to a lesser degree, market illiquidity. As with all mutual funds, these funds are subject to market risk, including possible loss of principal.

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