Global industrial momentum still weakening
June 5, 2025
Trade disruption and a monetary relapse suggest receding prospects for a H2 recovery in global manufacturing PMI new orders.
NS Partners is a research-driven, active manager that combines its
Stock selection is based on identifying companies that are expected to generate increasing economic — not accounting — profit (i.e., where returns on invested capital exceed their cost of capital). We closely monitor monetary conditions in the major economies and maintain a strategic bias to those companies, industries, and countries that have superior long-term growth potential.
Our rigorous research and screening process results in team members, each a specialist in a particular country or region, explaining the rationale for investing in the company before the stock is included in the portfolio. Decisions to buy or sell are made within a broader framework that looks at:
Buy thesis
Industry outlook
EVA
Addressable market and competitive dynamics
Contribution to portfolio risk
NS Partners’ overall objective is to maximize exposure to the best
market opportunities while keeping the portfolio within acceptable
risk tolerance levels and ensuring proper diversification of
investment ideas.
Insights
Read More
Global money update: renewed weakness
June 4, 2025
A hopeful signal from an earlier monetary pick-up has fizzled.
US money update: balance of payments drag
May 30, 2025
US money growth is slowing, suggesting less support for the economy and improving prospects for rate cuts.
UK inflation: underlying softening
May 28, 2025
UK April inflation numbers were much less bad than reported.
Implications of Asian currency tremors
May 16, 2025
This month’s commentary examines how the violent surge in the Taiwan dollar in early May could signal the start of a broader shift in global capital that could have big implications for which markets out- or underperform going forward.
Why is the UK an employment outlier?
May 16, 2025
UK monetary trends have been arguing for faster MPC easing. Labour market news is now reinforcing the message.
Inflation leading indicators still benign
May 9, 2025
Three indicators that signalled the 2021-22 global inflation spike and reversal continue to suggest a favourable outlook.
Are US monetary conditions about to tighten?
May 1, 2025
“Treasury QE” has supported US broad money growth but a lifting of the debt ceiling promises a reckoning.
Are Eurozone money trends inflecting weaker?
April 30, 2025
Eurozone March money numbers suggest that further ECB policy easing will be required to insulate the economy from global weakness.
Global money update: cavalry arriving?
April 24, 2025
A rise in money growth, if sustained, could offset US tariff damage.
‘Beautiful’ tariffs and the end of exceptionalism
April 22, 2025
This month’s commentary considers how America-First trade policy has exposed US money and credit imbalances, and how this may signal the beginning of a new regime in global financial markets.
Echoes of 1971
April 17, 2025
Current events are reminiscent of the same stage of the last 54-year Kondratyev cycle.
Chinese / Japanese monetary divergence still widening
April 15, 2025
Monetary trends suggest that China’s economy is better placed to withstand tariff damage than Japan’s.
A “monetarist” perspective on current equity markets
April 2, 2025
A promising recovery in global money growth may be insufficient to offset lagged effects of prior tightness and the US trade policy shock.
International Equity Strategy Commentary
March 31, 2025
Strategy Commentary for Q1 2024 on the International Equity Strategy
For additional information on NS Partners Ltd, please contact:
Brent Wilkins
Senior Vice President,
Head of Institutional Sales, Canada
Eric Hasenauer
Senior Vice President,
Co-Head of Institutional Sales, USA,
John Ricketts
Senior Vice President,
Co-Head of Institutional Sales, USA
Anna Kirk
Chief Compliance Officer
& Head of Client Service
Please take the time to carefully read the following as it contains important information regarding certain restrictions imposed by statute and the applicable securities regulatory authorities on the distribution of information through this website.
Material presented on this website should be considered for background information only and should not be construed as investment or financial advice. Further, information on this website should not be construed as an offer or solicitation by the Connor, Clark & Lunn group of companies to provide investment management services or to buy or sell any products.
The NS Parters Ltd. (NS Partners) website may contain hyperlinks to websites operated by parties other than NS Partners. Such hyperlinks are provided for your reference only. NS Partners does not control such websites and is not responsible for their contents. The inclusion by NS Partners of hyperlinks to other websites does not imply any approval or endorsement of the material on such websites or any association with their operators.
The Connor, Clark & Lunn group of companies includes a number of entities that may be registered as investment advisers, investment fund managers and exempt market dealers in various provinces and territories of Canada. A number of entities are also registered with the Unites States Securities and Exchange Commission as advisers in that country and the Connor, Clark & Lunn group of companies also includes a number of investment advisers and fund managers that are authorized and regulated by the Financial Conduct Authority in the United Kingdom. The information provided on this website regarding each entity is directed solely towards qualified investors in jurisdictions where the appropriate entity is registered. Services offered by any of the entities in the Connor, Clark & Lunn group of companies are offered solely to qualified residents of the jurisdictions where the entities are qualified to do business.
Certain securities regulations prohibit the publication of specific registration information about the registered entities in the Connor, Clark & Lunn group of companies. For more information, please contact the Connor, Clark & Lunn Compliance Department at [email protected] or 604-685-2020.