The Aftermath is Martin Currie’s ground-breaking study on the new realities that are occurring as a result of the pandemic. Covering a vast range of economic, societal and environmental outcomes, the research outlines the key themes and implications relevant for long-term equity investors.
Sections covered
The role of the state
The role of the state will change even in ‘mature’ and ‘stable’ democracies. The harsh reality is that ‘big government’ is better placed to deal with pandemics. Even governments in hitherto considered mature and stable democracies are to varying degrees stretching traditional norms.
Sectors
There is a vast dispersion in outcomes from the changing business norms and flexible working to travel and transport. What is clear is that every sector of the economy to greater or lesser degrees will be affected by the pandemic.
Society
Existing trends in society, the global economy and geopolitics will accelerate but not deviate substantially. The course has broadly been set already, from a growing rejection of traditional politics, to an increasing focus on climate change and a technology-led reinterpretation of business models.
Going Green
Climate change policies could benefit from higher prioritisation. Given the global extent of the cost of COVID-19, in human lives and in material losses, a recalibration of attitudes to global threats and an intensifying public pressure could result in a higher prioritisation of climate change policy.
Geopolitics
Geopolitical risk will increase. Every dormant or low-intensity geopolitical stress point in the world will become more amplified. For many countries, there are sources of geopolitical or even existential risk that have lain semi-dormant for over 70 years and are reawakening now. The tone will be set by the US-China confrontation.
Navigating the world after covid-19
In our final video for the series, Kim discusses the likely changes in direction that the world will take after COVID-19, and the winners, losers and investment implications.
Regulatory information and risk warnings
Past performance is not a guide to future returns
This information is issued and approved by Martin Currie Investment Management Limited (‘MCIM’). It does not constitute investment advice. Market and currency movements may cause the capital value of shares, and the income from them, to fall as well as rise and you may get back less than you invested.
The opinions contained in this recording are those of the named manager. They may not necessarily represent the views of other Martin Currie managers, strategies or funds. These opinions are not intended to be a forecast of future events, research, a guarantee of future results or investment advice.
The analysis of Environmental, Social and Governance (ESG) factors form an important part of the investment process and helps inform investment decisions. A strategy does not necessarily target particular sustainability outcomes.
The information contained has been complied with considerable care to ensure its accuracy. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Martin Currie has procured any research or analysis contained in this recording for its own use. It is provided to you only incidentally and any opinions expressed are subject to change without notice.
The information provided should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any of the security transactions discussed here were, or will prove to be, profitable.
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For wholesale investors in Australia: This information is issued and approved by Martin Currie Investment Management Limited ('MCIM'). It does not constitute investment advice. Any distribution of this material in Australia is by Martin Currie Australia Limited ('MCA'). Martin Currie Australia is a division of Legg Mason Asset Management Australia Limited (ABN 76 004 835 849). Legg Mason Asset Management Australia Limited holds an Australian Financial Services Licence (AFSL No. AFSL240827) issued pursuant to the Corporations Act 2001.
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