Research

We pride ourselves on strong fundamental research

At Griff, we strive to build critical and constructive thinking among all analysts based on inquisitive research on markets to seek quality opportunities. The key pillars of our weekly pitches are the abilities to demonstrate in depth research and understanding of the stock which at times, drives the courage to deviate from market consensus.

In 2024, we decided to publicly share some of our research, with the publication of “The Big 9 Themes” equity strategy note, which highlights long-term thematic investments that could generate long-term alpha.

The Big 9 Themes

“The Big 9 Themes” equity strategy note is Griff’s first published content where we adopt a top down approach by understanding core drivers, risks, debates, government policies, and trends for each theme. With rates expected to be higher for longer, uncertain equity outlook and emerging risks, we believe a thematic selective approach can be a long run alpha generator.

In determining the themes, we identified key trends and emerging opportunities for the next decade that would have universal impacts on the global economy. We then pieced together nine main themes that we think constitutes decade-long investment opportunities.

The note is entirely researched, written and presented by a group of students from The Griff Investment Fund, ranging from first year to final year students. The roles played by the students in Griff include the executive committee, sector heads, senior and junior analysts. The contents of the note were written between late 2023 and early 2024.

The full note is available for download here.

Theme #1: Obesity is set to be the fastest growing pharmaceutical segment in the next decade with a 27% CAGR, launching it to be the 2nd largest pharma category by 2030.

Theme #1: Obesity is set to be the fastest growing pharmaceutical segment in the next decade with a 27% CAGR, launching it to be the 2nd largest pharma category by 2030.

Theme #2: Climate Mitigation is key to reach global net zero targets. We think the theme presents multi-decade long growth opportunities of c. US$10trn annually.

Theme #2: Climate Mitigation is key to reach global net zero targets. We think the theme presents multi-decade long growth opportunities of c. US$10trn annually.

Theme #3: Climate Adaptation will be needed to adapt to already warmer climates. We focus on 4 subthemes arising from a damaged climate: water, natural disasters, cooling and food security.

Theme #3: Climate Adaptation will be needed to adapt to already warmer climates. We focus on 4 subthemes arising from a damaged climate: water, natural disasters, cooling and food security.

Theme #4: The Fourth Industrial Revolution, with AI, AR/VR, advanced engineering, and robotics, is merging into the economy and daily life. AI adoption drives 37% yearly industry growth, offering vast global opportunities.

Theme #4: The Fourth Industrial Revolution, with AI, AR/VR, advanced engineering, and robotics, is merging into the economy and daily life. AI adoption drives 37% yearly industry growth, offering vast global opportunities.

Theme #5: The Indian Decade is the next emerging market story, creating various opportunities to invest in what would be the next US$5trn economy and the 3rd largest by the late 2020s.

Theme #5: The Indian Decade is the next emerging market story, creating various opportunities to invest in what would be the next US$5trn economy and the 3rd largest by the late 2020s.

Theme #6: Deglobalisation’s existence presents lucrative opportunities to capitalise off of large fiscal spending. We’ll look at how governments are scrambling to stay ahead in the tech race.

Theme #6: Deglobalisation’s existence presents lucrative opportunities to capitalise off of large fiscal spending. We’ll look at how governments are scrambling to stay ahead in the tech race.

Theme #7: Ageing Population presents outsized opportunities, as the over 60 population in 2050 doubles from today - requiring more healthcare and retirement solutions.

Theme #7: Ageing Population presents outsized opportunities, as the over 60 population in 2050 doubles from today - requiring more healthcare and retirement solutions.

Theme #8: The Future of Food encompasses the changes happening in the food production chain, including the change in consumer diet choices, crop farming methods, healthy eating trends and the increased supply chain transparency.

Theme #8: The Future of Food encompasses the changes happening in the food production chain, including the change in consumer diet choices, crop farming methods, healthy eating trends and the increased supply chain transparency.

Theme #9: Wellbeing is the next big theme in how consumers are choosing to spend their disposable income with a focus on cosmetics, pets and mental health.

Theme #9: Wellbeing is the next big theme in how consumers are choosing to spend their disposable income with a focus on cosmetics, pets and mental health.