We believe in fundamental, bottom-up research, which we complement with a rigorous proprietary quantitative screening process, to deliver market-leading outcomes for your clients:

Sustainable

Using sustainability analysis as a core part of our fundamental research process

Growth

Our approach has an anti-mega cap bias, seeking to maximise total returns by investing in quality stocks across global equity markets.

Market Neutral

We aim to deliver positive returns driven by alpha, not beta, with low levels of volatility and very low correlations with equity markets

Income

Total return mind-set, aiming to deliver a sustainable and growing income stream as well as long-term capital growth.

Is One Bad Apple Set to Spoil the Bunch?

Apple suppliers have been slashing guidance and warning us about faltering demand for the past three months, so I’m somewhat surprised that the latest warning, this time from Apple themselves, has come as such a shock to the market. The major concern is that the...

Spotting those Super Subs

‘Super Sub’- in sport, it’s bittersweet. You’re a legend to the fans scoring a goal off the bench, but is it really a tag you want as a player? Ole Gunner Solskjaer is one of the best known examples of a super sub. He seems to be about to play the role again at...

Snow Christmas Cheer Here

“Unbelievably bad” Christmas is a critical time for retailers. For many, it’s when the majority of the profits for the year are made (or not). Sports Direct CEO Mike Ashley’s comment that “November’s trading was unbelievably bad” is a stark warning that there may be...

Asian Fusion

A trip combining visits to countries as diverse as India and Singapore is always likely to throw up some exciting experiences and insights. Euan Weir, an investment manager in our Global Equities team, shares some of the main themes that came out of his recent...

Japan – change does happen

Japan is a conservative country which places continuity and stability above change. This can frustrate overseas investors, who periodically get excited about Japan changing and buy the stock market, only to give up a year or two later, disappointed at the pace of...

Badger Daylighting – What’s in a name?

If I mentioned Badger Daylighting to you, you’d probably wonder what I was talking about. Moonlighting is having a second job at night, so you might deduce that badger daylighting is a nocturnal woodland creature taking on additional employment during the day to earn...

Reflections on a choppy week

As we come towards the end of a turbulent week for markets, we thought there was some value in taking a step back and reflecting on what has happened and how it affects the outlook. Source: factset Since the start of the October and particularly this week, volatility...

It’s not just Amazon

Amazon briefly crossed the $1 trillion market capitalization threshold earlier this month. It’s the second US company to do so this year, following Apple in August. This milestone has generated a lot of headlines, and apparently some angst – ‘Apple’s $1 Trillion...

A move that ‘tix’ the right boxes

Natixis, the French financial services provider, announced last week (September 12th, after close) that it is to sell its retail banking operations to its parent company BPCE. In what has certainly not been a vintage year for European financials and their...

Are we there yet?

"Are we there yet?" - the familiar refrain of young children well before the end of a journey might equally be asked by investors as US stocks on Wednesday 22nd August marked (by some measures) the longest bull market in history. As at 31/8/2018, it has been 3,462...

Investment Destination Guide

Planning a bank holiday weekend getaway? The Kames equities team present their investment destination guide.   Spain - Allan Clarke Spain’s got a lot to offer itself for the European holiday maker. Fabulous weather and great beaches? Of course. But for investing?...

Shipping is going green

My colleague Euan Weir recently wrote an interesting piece on environmentally friendly shipping regulations, which should benefit refiners who produce low-sulphur fuel. About time too!...Goldman Sachs estimate 15 of the world’s largest ships emit more sulphur dioxide...

Insperity – Doing the HRd work for businesses

Insperity was created in 1986 in Texas, USA; the brain child of co-founder Paul Sarvadi, who remains the chairman and CEO today and owns 6.3% of the company. He envisaged making business owners’ lives easier by taking HR and administrative burdens off their plates....

It’s Complex and under-appreciated!

In 2020, new regulations come in to force from the International Maritime Organisation (IMO 2020) aiming to dramatically reduce sulphur emissions in shipping. Specifically, fuel sulphur content will have to reduce from a maximum of 3.5% currently, to just 0.5% by 1st...

China – in an index of its own

On June 1st  2018, the journey to full inclusion of Chinese A shares in the widely followed MSCI suite of equity indices began. 226 stocks became MSCI EM Index constituents at an initial inclusion factor of 2.5%. A-shares are those of mainland-China based companies...

Amplifon – forging ahead

Amplifon, the world’s largest hearing-aid retailer and a sustainability leader in health care, announced last week that it is acquiring GAES, a Spanish producer and distributor of hearing-aids.   This is exactly the kind of deal we would expect from Amplifon, a...

Microsoft – In the clouds

Last week Microsoft delivered top-and bottom-line results and guidance above estimates resulting from both strong execution across its business and a strong IT spending environment. Although Azure, the company’s cloud business grabbed much of the attention with its...

Our top five Asian equity picks for income

Asia continues to rise as a percentage of the world’s indices, reflecting the fact that the majority of the world’s population lives there and the economies are growing faster than the rest of the world. Secondly, Asian companies are now more liquid and returning more...

Key stocks to ride the investment cycle

Cycling has never been so popular, whether it is middle aged men in lycra (‘Mamils’) taking to the roads and the parks at the weekends, or the ever increasing numbers taking to two wheels for their regular commute, cycling is now not only big business but also a...

Les Bleus, World Cup and some investment takeaways

After a captivating and nail biting final in Russia which delivered all the thrills, drama and tears fans on both sides expected (and then some!), are there any investment lessons to learn from this World Cup? A few spring to my mind:   Act as one – the power of the...

Global banks

Investing in the equity of global banks has never been easy. Share prices typically reflect a myriad of factors, including the health or otherwise of domestic, regional and even global economic activity. The virtual collapse of the financial system a decade ago has...

Which equity strategy for more troubled water

After a trip to Southern Europe to meet with clients and prospects on global equities, our senior investment specialist, Luc Simoncini, discusses the questions most asked, the options for mitigating rising volatility in the markets and outlook for global equities....

A victim of its own success?

Craig Bonthron, co-manager of the Kames Global Sustainable Equity Strategy, shares his views on why Chinese solar panel producers no longer get subsidies. Opinions and views from the Equities team at Kames Capital are not an investment recommendation, research or...

Who needs cash? The changing face of global payments

Carolyn Bell, support manager for the Kames Global Equity Market Neutral strategy, talks about the changes taking place within the global payments industry and the areas that are of most interest to us from an investment perspective.   Opinions and views from the...

Climate change: Five key investor questions… answered

When will renewables be cheaper than fossil fuels? According to the annual Lazard LCOE (levelised cost of energy) study, renewables are already cheaper without any subsidies than fossil fuels in most parts of the world. Indeed, in some areas, the most expensive form...

How we combine quantitative and fundamental equity analysis

When I first joined the asset management industry there was a clear view that it was very much ‘Man (or woman) versus Machine’ or rather, fundamental versus quant. At some firms this is still the view; never shall the two meet. I have always disagreed with this. I...

Capitalists with a conscience

Nearly two-thirds of our proxy voting activity occurs in the approaching second quarter of the year. In terms of what we can expect, in the US at least, ISS (the leading provider of proxy voting services) suggest that 2018 promises to continue the recent trend of...

All hail America’s new pollution king

US coal is dead. Coal use for electricity generation in the US has plummeted and in turn so have electricity CO2 emissions. In fact, electricity CO2 emissions have fallen sufficiently that America has a new pollution king! Transport is now America’s...

#SustainableDisruptors

As growth investors, our nirvana is identifying the next disruptive winner which will dominate the future in the way that the likes of Amazon and Facebook dominate the present. Our three key sources of alpha when searching for the next big winners are: • ...

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Video: Insperity Inc stock story

Video: Swire Pacific stock story

Video: Everbridge stock story

Video: Worldpay stock story

Video: Kames Global Equity Market Neutral Fund 2nd anniversary

Video: Neil Goddin discusses the Kames Screen

Video: Neil Goddin discusses how markets change and react to macro events

Kames Fundamentals, Valuations,Technicals (FVT)

Stock picking for persistent returns Click to download

Article: Why we are happy to be small in a big investment universe – Stephen Adams, Head of Equities. Click to download

The philosophy that defines Kames Capital for global equities

Act as One

Our equity team works from a single investment location in Edinburgh

Our culture of challenge and debate means we rigorously interrogate every investment decision

By combining the roles of analyst and fund manager we make decisions more efficiently

Act with Conviction

We avoid the crowds, by seeking under-researched companies and under-valued characteristics

Proprietary quantitative screening complements our fundamental, research-driven approach

Our concentrated portfolios contain only our best ideas

Act Responsibly

Active stewardship, with industry-leading ESG credentials

Investing in management teams as well as businesses; meaningful engagement

Clear ownership and accountability for the investments we make on behalf of our investors