Under pressure
In recent months, the U.S. dollar has come under pressure, with many observers attributing its weakness to the perceived end of American exceptionalism and a supposed rotation of capital flows out of the U.S. This narrative has gained traction alongside the belief that the eurozone may be on more solid footing than previously thought. However, in truth, there have been no significant flows out of the U.S. Figures published by the US department of Treasury debunks the claim for rotation out of the US. The primary driver of the dollar’s decline has been hedging activity, not structural reallocations or changes in economic fundamentals. We believe that, over time, fundamentals will reassert themselves—and when they do, the dollar is likely to recover further. 
Elston's Hoshang Daroga joins Chris Ainscough, Chris Ainscough and Ben Gilbert for Citywire's fifth episode of their MPS Allocators series.
Read on for more details.
Elston's Hoshang Daroga discusses all things MPS with Chris Ainscough, Olivia Geldenhuys and Ben Gilbert for Citywire's MPS Allocators.
Read on for more details. 
We discuss the rationale for being overweight US Equities given the resilient economy and strong earnings growth outlook. But one manager's overweight can be another manager's underweight: it depends on your benchmark and how you define "Neutral."
While the theoretical case for private markets can look compelling, the practical realities are more complex and not without pitfalls.
There are some key issues investors need to consider, in our view, are: 1) illiquidity, 2) opacity and 3) fees and misaligned incentives. We explore each of these in turn. 
Andrea Acimovic (Elston) explores the evolving SDR rules and impact on MPS providers in our Elston Investment Forum 2025.
Read on for more details. 
Where next for the UK economy? Hermione Taylor outlines the challenges at our Elston Investment Forum 2025.
Read on for more details. 
Hermione Taylor, the FT Investor’s Chronicle Economist, shared her outlook for the UK economy at the Elston Investment Forum
Hoshang Daroga (Elston) and Natasha Sarkaria (BlackRock) discussed the outlook for markets at our June 2025 Elston Investment Forum. Watch the video or read on to find the key findings are summarised here.
Watch our latest Global Market Outlook with Hoshang Daroga (Investment Director, Elston Consulting) and Natasha Sarkaria (Investment Strategist, BlackRock) speaking at our Elston Investment Forum 2025.
Read on for more details. 
Where next for US trade policy, economy and markets ? We catch up with Greg Swenson on what's Trump doing and why.
Watch the presentation from Greg Swenson at our Elston Investment Forum 2025 Read on for more details. |
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