Noel Smyth

Commercial and geopolitical forces are threatening to fracture the internet into competing regimes, making it harder for companies to operate across borders and potentially limiting their growth. We explore the implications for investors.

Over recent years, a group of established companies have traded at relatively high valuations for their robust competitive advantages and consistent growth records. But in a competitive economy, investors should not assume this will continue indefinitely, warns Giles Parkinson.

As part of our engagement efforts, every January we send a letter to the chairs of companies we invest in (and some we don’t, but still want to use our influence with) to set out our stewardship priorities for the year. Here, in full, is our 2021 letter.

Shawn Mato, convertible bond fund manager, picks three themes that could have a big say in how the asset class performs in 2021.

Giles Parkinson, global equities portfolio manager at Aviva Investors, looks at three themes that will shape the asset class in 2021.

Trevor Green, UK equity portfolio manager at Aviva Investors, picks three themes that could have a big say in how the asset class performs in 2021.

Alistair Way, head of emerging market equities at Aviva Investors, looks at three themes that will shape the asset class in 2021.

We select some of our key pieces of content in a year of unending drama.

After decades of secrecy, light is increasingly being shone on the potentially hazardous compounds produced by chemical companies. In the latest instalment of our editorial series, Link, experts from Aviva Investors’ credit, equities and ESG teams discuss the prevalence of chemicals in modern life, and how to balance usefulness and safety.

Evidence that a company wields pricing power in its industry is the best indication of a sustainable competitive advantage, argues Giles Parkinson.

The gravity-defying rally in technology shares has led some commentators to draw comparisons with the dot.com bubble of the late 1990s. However, Mikhail Zverev and Alistair Way believe there are still opportunities to be found in some of the sector’s less-fashionable stocks.

As the US presidential election looms, we explore potential scenarios – from a Democratic “blue sweep” to a Trump re-election to a divided government – and assess the implications for investors.

Equity markets are slow to price in the implications of change. This creates opportunities for dynamic, style-agnostic investors to take advantage, argue Caroline Galligan and David Cumming.

Facebook, Twitter and other platforms are drawing criticism for their failure to tackle hate content. But will the hit to their reputation do any lasting commercial damage?

COVID-19 has intensified interest in the human microbiome, as researchers contemplate whether bacteria living in the gut might affect susceptibility to infection. Drawing on our experience in public markets and Ahren Innovation Capital’s knowledge of private markets, we look at the companies making strides in live biotherapeutics, using ‘bugs as drugs’, and key challenges that need to be overcome.

Investors wanting to consistently exploit market inefficiencies should leave style biases behind, argues Mikhail Zverev.