Beyond Markets

In this monthly China update, our experts discuss if the Chinese property market has finally reached a trough, as well how to pre-position for potential tax reforms in the country, particularly consumption tax. They also assess the impact of previous US trade tariffs on China, and explore the relationship between gold and productivity cycle.This episode is presented by Richard Tang, China Strategist and Head of Research Hong Kong at Julius Baer, with Hong Hao, Partner and Chief Economist at GROW Investment Group.

In this episode of Beyond Markets, Alisa Wood, Partner, KKR, shares her insights on private equity and in particular, open-ended, evergreen fund structures. We explore what evergreen structures are, how it compares with traditional, closed end 10-year fund structures, and why it is advantageous to build exposure to private equity in a portfolio. This episode is hosted by William Fong, Co-Head, Alternatives & Strategic Solutions Specialists Asia at Bank Julius Baer.  0:18: Introduction1:14: What are open-ended, evergreen private equity structures?2:50: The growing popularity of evergreen private equity structures6:06: Open-ended vs close-ended structures9:35: Redemption opportunities in evergreen funds12:22: Institutional experience & investment focus18:29: Why invest in private equity?23:23: Get to know Alisa – PEWIN, The Public Theater31:01: Recommended musicals in NYCImportant legal information:The information and opinions expressed in this podcast constitute marketing material and are not the result of independent financial or investment research.Please refer to www.juliusbaer.com/legal/podcasts for further important legal information.Kohlberg Kravis Roberts & Co. L.P.  (KKR) disclaimer:This podcast is for informational purposes only and should be considered of a general nature. The information in this podcast is current only as of the date published. No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of Kohlberg Kravis Roberts & Co. L.P. (along with certain affiliates), or any of its respective partners, executives, employees as to the accuracy or completeness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any of them for any such information or opinions. Such information or opinions should not be relied upon and are subject to change without notice. Anyone listening to this podcast should consult their own advisors relating to any investment decision. Statements contained in this podcast that are not historical facts are based on KKR's current expectations, estimates, projections, opinions and beliefs. These statements involve known and unknown risks, uncertainties and other factors and should not be relied upon. There are several risks associated with investments in private equity structures. In addition, any projections or other estimates, including estimates of returns or performance, are “forward-looking statements” and are based on certain assumptions that may change.

In this episode, we provide some highlights of what happened during the 1st US presidential debate of 2024 and what to expect from a very heavy macro data week.This episode is presented by Kelly Chia (Deputy Head of Research, Asia).

How are loans made by direct lenders different from bank loans? What should potential investors in this asset class need to be aware of, and for whom is it suited.Listen to the latest Beyond Markets podcast, with Fiona Kenyon, Head of Private Markets Advisors at Julius Baer, and Craig Packer, Co-President and Head of Credit at Blue Owl Capital, to learn more about the world of private credit and direct lending.01:51 Introduction to topic and speakers02:50 What exactly is private credit and is it the same thing as direct lending?04:14 Are companies that borrow from direct lenders typically of poorer quality than those that get bank loans?06:17 What’s the history of direct lending? Is this a new asset class or has it been around for a long time?07:56 Are the characteristics of direct loans very different from bank loans? 10:04 Why has direct lending grown so much in the past few years?14:04 Is this ‘the golden age of credit’? What are some of the risks of direct lending as an asset class? 16:01 Given the complexity, how can direct lending fit into a wealth investor’s overall portfolio?Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

In this episode, we review what happened last week, Nvidia’s new achievement unlocked as most valuable company in the world and the US presidential elections. We also dive into Nvidia CEO Jensen Huang’s mindset on how he arrived at where he is today.This episode is presented by Kelly Chia (Deputy Head of Research, Asia).

In today’s episode of Beyond Markets we discuss real estate and how we can make buildings better with Carsten Menke, Head of Next Generation Research at Julius Baer.

With an improving economic outlook and a broadening recovery, what should investors expect in the second half of 2024? In this episode of the Beyond Markets podcast, Christian Gattiker, Head of Research, and Kelly Chia, Deputy Head of Research Asia, talk to Helen Freer about the current market environment and where they currently see opportunities for investors.01:02 What are the implications for investors of the improving economic outlook?02:05 What will central bank rate cuts mean for equities?03:34 Our focus within equities05:24 Why are mid-caps set to do well?06:16 What impact will geopolitics and US elections have on equity markets?07:01 What is our preference in terms of regions?07:49 Why do we like industrials?09:07 Why is Japan currently attractive?10:22 What opportunities do we see in emerging markets?11:21 What Next Generation themes are worth highlighting now?11:58 Where do we see opportunities within fixed income?13:34 What about emerging market debt?14:09 Summary and conclusions on fixed income opportunities15:10 Current thoughts on gold16:27 Summary of outlook for H2 2024Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

In this episode of The Week in Markets, we review the recent central bank meetings and new ideas in the US outside of Magnificent 7. In Asia, we discuss why we still like Japan and comment on the implications of recent EU tariffs on China. We also make a few simple points on private equity investments.This episode is presented by Richard Tang, Head of Research Hong Kong for Bank Julius Baer.

After many years of abnormalcy in the fixed income market, we are finally starting to see some normalcy returning to it. However, that doesn't mean there are no problems with government bonds. The US debt load has risen to 35 trillion post the pandemic, consequences of the US election are uncertain, and military spending will go up if tensions continue to rise around the world.  On the other hand, the world economy is doing well, companies are becoming better run, and inflation expectations are generally falling. Against this backdrop, investors could look to  investment grade corporate bonds in the fixed income space.This episode is presented by Mark Matthews, Head of Research Asia at Julius Baer.

In this monthly China update, our experts review the preliminary impact of the recent key measures announced by Chinese policymakers to stabilise the property market, and if we could see a sustained recovery. The Chinese equity market has also rallied strongly since April, and our experts discuss what it could take to drive a second rally, and the sectors that should perform. They also share their thoughts on how to navigate contradictory Chinese PMI numbers, as well as renewed US-China trade relation tensions. This episode is presented by Richard Tang, China Strategist and Head Research Hong Kong at Julius Baer, with Hong Hao, Partner and Chief Economist at GROW Investment Group.