Hosted by Steven Williams, Head of UK Distribution, this webinar features Paul Markham, Investment Director and Head of Global Equities at GAM Investments, as he explores how shifting global dynamics are reshaping equity markets, and how investors can adapt.
16 July 2025
Drawing on over 25 years of investment experience, Paul Markham, Investment Director and Head of Global Equities at GAM Investments, shares his outlook on how political, social and economic shifts are reshaping global equity markets, and how investors can adapt.
Topics include:
- Global Challenges: The declining influence of post-war institutions like the UN and NATO, and the long-term implications for market dynamics.
- Emerging Risks: The rise of non-traditional threats—cyber warfare, trade fragmentation, and geopolitical flashpoints—as key considerations in investment strategy.
- Societal Shifts: Demographic transitions, generational divides, and evolving consumer values driving innovation and disruption.
Paul emphasises a bottom-up investment approach, currently underweighting US equities due to dollar pressure and valuation concerns. He highlights opportunities in companies like BYD, a competitively priced EV manufacturer, and Sony, which is benefiting from secular growth in gaming and music streaming. The defence sector is also gaining traction as geopolitical situations evolve. He concludes with a cautious near-term outlook, but readiness to re-engage portfolios on market pullbacks.
Paul Markham manages Global Equity and Disruptive Growth strategies at GAM Investments.