Publications

Letter from the CIO - September 2025

Towards Global Reflation, but Under Certain Conditions

Towards Global Reflation, but Under Certain Conditions

A moderate recovery in global growth appears to be taking shape, driven by emerging markets and Europe.

Equities are advancing, supported by defensive stocks, while bonds are diverging; gold is rising, and oil is
retreating.
Political uncertainty persists, particularly in light of the risk of White House interference in the Fed.

📌Download the full CIO Letter in PDF format here.




September 17, 2025

Publications

Outlook 2026 H1

The year 2025 confirmed a global soft-landing scenario, albeit at the cost of persistent imbalances across major economic regions.

January 15, 2026

Publications

Mirror, mirror on the wall, who is the fairest now?

Powered by TikTok and rapid innovation, K-beauty is emerging as the new global force in the beauty industry.

January 12, 2026

Publications

Letter from The CIO - December 2025

Investing with discipline: what 2025 has taught us

December 11, 2025