Equity analyst Irena Petkovic separates what the team knows about the AI build-out from what it doesn't: accelerating hyperscaler results, supply as the bottleneck, the midterms, financing, and agent traffic. She then explains how asking what's in the stock shaped the team's position in Alphabet.

New Global Small Cap lead manager Ching Chang describes what China's market cycles taught him, why the small cap premium has gone missing, how regional weights fit with bottom-up stock picking, and what he looks for in management teams.

Equity analyst Joshua Samuel examines the value chain beneath GLP-1 drugs: why oral pills need more drug substance, how peptides are built and purified, and why a silica gel supplier with 70% share does not screen as healthcare. Growth rests on several drivers at once.