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The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
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Past performance and current analysis do not guarantee future results.
*UK represented by FTSE All-Share, Australia by S&P/ASX 300, Japan by TOPIX, Europe ex UK by MSCI Europe ex UK, emerging markets by MSCI Emerging Markets, US large-caps by S&P 500, US small-caps by Russell 2000, and China Onshore by MSCI China A.
As of December 31, 2022
Source: Bloomberg, FactSet, FTSE Russell, MSCI, Nasdaq, S&P, Tokyo Stock Exchange and AllianceBernstein (AB)
Past performance and current analysis do not guarantee future results.
*Based on MSCI World Value, MSCI World Minimum Volatility and MSCI World Growth
As of December 31, 2022
Source: FactSet, MSCI and AB
Historical analysis does not guarantee future results.
As of November 30, 2022
Source: National Bureau of Economic Research and AB
Past performance does not guarantee future results
Based on Bernstein sector classifications.
Sector weights from 1980 are as of January 1, 1980. Sector weights for 2022 are as of December 1, 2022
Source: Compustat, MSCI, S&P, Worldscope and AB
The views expressed herein do not constitute research, investment advice or trade recommendations, and do not necessarily represent the views of all AB portfolio-management teams and are subject to change over time.
MSCI makes no express or implied warranties or representations, and shall have no liability whatsoever with respect to any MSCI data contained herein.
Chris Hogbin is the Global Head of Investments for AB. In this broad leadership role, he oversees all the firm’s investment activities. Hogbin is responsible for driving investment success across asset classes, fostering collaboration and sharing best practices across investment teams, as well as leveraging a common infrastructure and evaluating opportunities to invest in capabilities that deliver better outcomes for clients. He is also a member of the firm’s Leadership team and Operating Committee. Hogbin joined AB’s institutional research business in 2005 as a senior analyst covering the European food retail sector. In 2010, he was named to Institutional Investor’s All-Europe Research Team and was ranked as the #1 analyst in his sector in both 2011 and 2012. Hogbin became European director of research for the Sell Side in 2012 and was given additional responsibility for Asian research in 2016. In 2018, he was appointed COO of Equities for AB. In 2019 Hogbin was promoted to co-head of Equities, becoming head of Equities in 2020. Prior to joining the firm, he worked as a strategy consultant for the Boston Consulting Group in London, San Francisco and Shanghai, where he was responsible for the execution of critical business-improvement initiatives for clients in the financial-services and consumer sectors. He holds an MA in economics from the University of Cambridge and an MBA with distinction from Harvard Business School. He is a trustee of the Public Theater in New York.
The risk of higher equilibrium inflation is a key marker of the notion that investors face a new regime. Recent policy announcements have lent more weight to the idea that the path of inflation might be upward. In this note we focus on the disparate forces that imply a higher long-term level of inflation.
Inigo Fraser-Jenkins | 10 March 2025Efforts to secure supply chains and energy sources are creating powerful and enduring themes for equity investors—even in these turbulent times.
James MacGregor, Cem Inal, Luke Pryor | 14 February 2025